The past week turned out to be a pivotal point for the world’s largest cryptocurrency. Bitcoin fell below the crucial mark of $30K, which further led to panic selling among the altcoins. A negative breakout from the descending triangle pattern during the first week of the month hinted for such a nosedive in the price level However, looking onto the brighter...
The bears continued their wrath on BTC and the overall market conditions during the past week. Bitcoin fell below the crucial support levels of $37K and $34K in no time during the past week, reflecting extreme bearish sentiment. The price level has again formed a falling channel pattern after facing strong resistance at the 0.5FIB level. A negative breakout...
The past week continued to face the wrath of bears as Bitcoin traded within the falling channel pattern formed on the chart. The current level is looking at the potential to form a fourth lower high within the downtrend. However, a positive breakout above the 0.382FIB level can be a momentum breaker and bring back positive sentiment for the world’s largest...
The world’s largest cryptocurrency has once again become a victim of a strong consolidation range between $37K to $45K. The breakout above $45K during the start of the month gave positive hopes to the investors. However, the following retracement forced the price level to drop below $40K. The contraction in Bollinger Bands suggests that we are poised for another...
The bearish sentiment has again caught up with the overall market conditions from the past week. On the weekly basis, the price level has fallen by -1.27% while the monthly loss has amounted to -7.57% at the time of recording. On the Fibonacci retracement table, BTC faced formidable resistance at the 0.382FIB level which is placed at $47413.42, and faced a...
On the 1D-candlestick timeframe, BTC continues to face resistance at $47.3K. On the Fibonacci retracement level, the resistance is placed at the 0.382FIB level. The price level hints for a possible consolidation range looking to form between $44K to $48K. A breakout from the upper range of $48K can be positive signal for hitting the potential target placed at...
The bulls extended their support for the world’s largest cryptocurrency while maintaining positive performance for consecutive weeks. Moreover, the current price level is finally above the major resistance level of $45K and EMA-200 which could further drive the bullish momentum. The price level also had a positive breakout from the rising channel pattern...
The past week can be considered as a bullish week for Bitcoin as the price level showcases approximately 6% gain resulting in the positive breakout from the consolidation range. Bouncing back from the support placed at 0.236FIB level, BTC bulls had a positive crossover above 0.618FIB level. The price level had dual testing of the psychological mark of $42K but...
From the past week, Bitcoin price level didn’t offer much to the investors and has formed a strong consolidation range. The world’s largest cryptocurrency is said to consolidate between the price range of $37K to $40K. On the Fibonacci retracement table, the mentioned range is placed between 0.382FIB level to 0.5FIB level. The price level is having a strong...
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...
After two weeks of the continuous rally, BTC took a nosedive in the latter part of the last week and declined by ~1%. On the weekly TF, BTC formed an Inverse Hammer candlestick pattern, which indicates that the market is again in control of bears. As the overall trend is still bearish, the recent positive rally can be considered as a pullback. At the time of...
Ethereum has lost 40% of its value in a matter of past 3 months. Just like Bitcoin, ETH too has given a Breakout from the Trendline and is currently retracing back. Piling up of volumes too depict that the journey to the valley may have ended and ETH may soon continue its upward trajectory. The support to the lower side is present at $2.8K and $2.6K...
BTC after coming to the level of $32.9K gave an impressive bounce-back to the level of $45.8 K. it is currently trading at the level of $42.1K at the time of writing. As shown in the chart, the macroscopic view of its prices provides us with a range of $31K and $64K respectively. BTC gave a Fake Breakout from the range and could not hold the levels. Slowly and...
BTC has been showing positive strength since January 24th, bulls have been trying to push the market up for the last two weeks. The combined crypto Mcap has increased by more than 15% in these last two weeks. BTC formed a strong positive candle on the weekly TF after the last week’s Hammer candlestick pattern, which was depicting that we can expect a short term...
After the continuous declines, crypto markets took a breather last week and closed the week with ~1% gains. BTC also bounced back after making a recent low of $32,933 and closed the week with 4.46% gains. At the time of writing, BTC is trading slightly below $37,000. BTC formed a bullish Hammer candlestick pattern on the weekly TF, which depicts that we can...
Crypto markets continue to bleed as the total crypto Mcap plummeted by more than ~20% in the last week alone. Uncertainty in Russia and Ukraine also adding more fuel to this fire. Overall, the global markets are also trading in red from the start of this year and due to high correlation between both the markets, crypto markets plunged more than the Equity...
After 4 weeks of continuous sideways trend, BTC plummeted by ~11.50% in the last 7 days alone, thus the largest weekly decline of 2022. It formed a big bearish candle on the Weekly TF and closed below its 50-WEMA, this depicts a decisive breakdown below major support. At the time of writing, BTC is trading slightly above $41,500. On the Daily TF, BTC is on the...
After the last weekly gains, BTC again witnessed a bearish movement and closed the week with a 6.90% decline. It continues to consolidate in the range of $45,000 to $51,000 for the 4th straight week, which suggests that the tussle between bears and bulls is still going on and there is no definite trend. At the time of writing, BTC is trading slightly above...