BTCUSD (Coinbase) The Bitcoin recovery continued as the price managed to reach and even break above the $40,000 key resistance area, It also managed to overcome the high seen on June 15th and that is negating the short-term bearish bias we had in place. Looking ahead, it would be critical
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) After weeks of waiting, Bitcoin buyers have finally stepped in more aggressively and pushed the price away from the $30k key support area. At the time of writing, BTC is consolidating above the $34k area, having breached above the 4h chart 200 SMA, a dynamic resistance level that
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BTCUSD (Coinbase) Another week and more losses for Bitcoin, with the only positive news seen in the reduction of the volatility and aggregate value lost. The price is trading inside a bearish channel and looks poised for a retest of the key $30k area unless the structure highlighted in our
BTCUSD (Coinbase) Bitcoin volatility is still low and has been for the past week, showing the same indecision among market participants. The price continues to treat the daily 20 EMA as resistance yet the selling emerging around it very weak, communicating a subtle change in the order flow might be
BTCUSD (Coinbase) Although it is far from a strong bounce, Bitcoin had posted some gains over the past few days, suggesting the selling pressure is not so intense. The price had formed a higher low and a higher high on the 4h chart and now all that’s left is to
BTCUSD (Coinbase) The Bitcoin sentiment continued to deteriorate at the beginning of the past week, given the price breached below $30,000, erasing all gains for the year. Even though the key support area highlighted in our chart is still holding, we don’t have a strong confirmation for any change in
BTCUSD (Bitstamp) Bitcoin stumbled into strong resistance around $40,000 and had been rolling off for the past several days. Downside pressure on stock markets, combined with a rising US dollar, both acted as a headwind for BTC and now we see the token heading back to the $31,000 area. It
BTCUSD (Coinbase) Bitcoin buyers will need to wait a little longer until the pullback on the upside will materialize. The triangle formation mentioned a week ago did not turn out to be a valid structure and now we see the string of lower highs keeping the pressure elevated. Even though
BTCUSD (Coinbase) The symmetrical triangle formation we’ve talked about continues to be in play, as neither side of the market was able to generate a strong price action move. However, since the structure is almost full, we suspect a breakout and a burst of volatility is very likely to occur
