BTCUSD (Coinbase) Bitcoin is back in full swing as the market marches higher, recovering most of June’s losses. While major stock markets have been under heavy pressure last week, BTC seems to be ignoring the crowd. The divergence in terms of correlation acts as a boost because when there aren’t
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) The market is back in full swing starting from Monday when we see Bitcoin up substantially. As things stand right now, the price action tilted in favor of bulls once again, and we suspect there are more gains to come. We can confidently say that for several reasons.
BTCUSD (Coinbase) We warned in our last analysis that a break below $60k is a bearish sign for BTC and as that scenario unfolded, follow-through selling pushed the price towards $54k. It seems like the market was frontloading as the hacked exchange Mt. Gox wants to liquidate holdings in order
BTCUSD (Coinbase) In line with our last week’s projections, Bitcoin continued to weaken and found support around the $60k – $61k key area. Despite a temporary break, the market could not keep the price below that zone for more than four hours. Additionally, we are now seeing further signs of
BTCUSD (Coinbase) Bitcoin selling intensified last week and the price broke below our support at $65,000. Additionally, as the chart above shows, BTC continues to respect a bearish trend line and treats the 20 EMA on the 4h chart as resistance. Those signs suggest the bears are in control and
BTCUSD (Coinbase) Bitcoin was choppy and ended last week in the negative. As our chart shows, the 4h chart 200 SMA failed to act as support, despite a temporary bounce off it. Looking ahead, we want to see whether the $65k level will hold as support. The price action structure
BTCUSD (Coinbase) Bitcoin is under pressure at the time of writing and as you can see, the price broke below the ascending channel we talked about last week. That’s a bearish sign and could point out to further losses during the week. However, the main event is the FOMC scheduled
BTCUSD (Coinbase) Bitcoin has consolidated lower last week, but losses have been contained. As our chart shows, the $67k area we highlighted capped the downside, alongside the ascending channel. Considering the structure remains in play, we are bullish for this week, as the market has a pocket of calm until
BTCUSD (Coinbase) Bitcoin continued to rise last week and after breaching the $67k level, the price surged towards $72k where it found resistance. As BTC pulled back, $67k acted as a role reversal level, capping the downside. Additionally, as our chart shows, the market is trading inside an ascending channel,
BTCUSD (Coinbase) Bitcoin sentiment continued to improve during the last couple of days. No news is good news for risk assets, meaning in the absence of a major risk event, prices continued to rally. Looking at the chart above, we can see how the price is currently consolidating around $67k.
