Amid the collapse of crypto giant, FTX, the overall market conditions took a hit as the world’s largest cryptocurrency nosedived to a new two-year low of nearly $15.5K. The other cryptocurrencies also faced significant selling pressure as Ethereum is down by 20.15%, XRP by 25.65%, and polygon by 22.00% at the time of writing on a weekly basis.
Considering the...
The world’s largest cryptocurrency has developed positive sentiment during the past week as the price level maintained sustainability above the psychological mark of $20K.
Moreover, the price level was able to have a positive breakout above the resistance zone between 0.786 FIB level and 0.618 FIB level and attained a new weekly high of nearly $21.5K. However,...
The bears are back again in the overall market conditions as the weekly loss for BTC reaches nearly (-)12.30%. On the chart, the price level has suffered a negative breakout from the rising channel pattern reflecting upon a strong change in sentiments
During the past bullish rally, BTC faced significant resistance around the 0.236FIB level which may have...
The past week's price performance resulted in more skepticism among investors as BTC faced multiple negative breakouts below the crucial psychological mark of $20K. Compared to the previous high of the previous month, BTC is almost down by 37%.
On the Fibonacci retracement table, the price level has fallen below the 0.236FIB level and unable to have any...
The past financial quarter didn’t go as expected. We did witness the emergence of humongous selling pressure in the overall market conditions including Bitcoin. The world’s largest cryptocurrency has almost retraced about 60% considering the high of Q2 2022 and the current market price. Although the downfall wasn’t a steeped one, BTC found support levels at...
During the past week, Bitcoin faced intensive volatility led by the headlines that Russia invades Ukraine on Thursday. The news forced BTC to drop straight from $39K to around $34K. However, buyers at lower levels gave a push back in no time. This further led to the testing of EMA-20 ($39,600) which went unsuccessful as investors are looking for relevant exists...
What are your thoughts on this ..?
In my opinion, we will reach 24718 USD(0.618 fib) and bounce back from there, if not, as we can see historically if BTC gets below 50 MA there will be a 50+% crash eventually (it happens 3 times) and 200 MA acted as the support
BTC continues to be in sideways movement and traded in a range of $32,699K to $36,660. It formed a monthly red candle for June, with long upper and lower wicks and closed the month with a 5.95% decline. On the weekly TF, it formed a Doji candlestick pattern which depicts indecision between the bulls and bears, it closed the week with minor gains of 1.66%. It is...
Bitcoin made its new ATH of $64,899 in the April month of this quarter but bulls were unable to hold the gains and succumbed downside due to the negative sentiments initiated by a negative Elon Musk's tweet and China ban news. Total Market cap after peaking at $2.5 Tr in May to $1.3Tr at the time of writing, it dipped by ~48% in this quarter.
The flagship...
Below the 27,000 USD level, the Bitcoin market tends to experience heightened bid support. This implies that there are a substantial number of market participants willing to place buy orders at or above this price level. Such bids create a strong support zone, reducing the likelihood of a rapid decline in Bitcoin's value below this threshold.
Lower Downside...
The past week for Bitcoin turned out to be fundamentally negative as crypto-friendly and related banks collapsed. However, at the time of writing, the world’s largest cryptocurrency showed symptoms of recovery as the weekly loss stood at just around 1.00%, even after suffering a dip below the crucial mark of $20K.
On the Fibonacci retracement table, the 0.5 FIB...
Bitcoin faced significant resistance from the crucial psychological mark of $25K during the past week. Due to the pullback by the resistance mark, its weekly performance is facing a loss of approximately 6.00%.
MA-10 has faced multiple negative crossovers against both MA-20 and MA-50, respectively. It suggests that BTC is again entering into bearish sentiment....
BTC had a positive crossover against the crucial psychological mark of $25K. The breakout suggested that there is significant positive momentum prevailing for the world’s largest digital asset.
The RSI level is also trading at a bullish level (62.00) with the potential to have a positive breakout to the overbought region. However, the MACD level is looking...
Bitcoin continued its positive momentum in the past week as the YTD gain reached approximately 40%.
On the Fibonacci retracement table, BTC price level had entered the resistance zone which is above 0.786 FIB level.
Considering the technical indicators, Bollinger bands has contracted its width which suggests a potential consolidation or profit-booking momentum....
The world’s largest cryptocurrency has maintained its positive momentum since the start of the year and generated approximately 36.83% YTD returns.
On the chart, two areas are marked representing the resistance zone and sustainability zone, respectively. The current price action of BTC suggests that it will be targeting a positive breakout above the resistance...
Bitcoin started 2023 on a positive note as the price level formed a rising channel pattern on the chart. Considering moving averages, MA-10 is trading above both MA-20 and MA-50, which is again a positive sign for the world’s largest cryptocurrency.
The RSI level is also showcasing an extremely positive nature with a breakout to the overbought region. At the...
