BTCUSD (Coinbase) Bitcoin weakness continues as the price is treating the daily 20 EMA as resistance, instead of support. Additionally, we are seeing the RSI heading south towards oversold conditions, suggesting a corrective move is developing. We expected support at $112k and buyers did step in after enthusiasm flooded the
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) Bitcoin weakness emerged in the second half of last week after concerning inflation data in the United States. The price briefly touched a new ATH and then sold off impulsively and now not even the daily 20 EMA seems to be acting as support. Additionally, the ascending trend
BTCUSD (Coinbase) Bitcoin buyers are back in business and we see the price already above our short-term consolidation channel. That puts the ATH under pressure and we might even see a break higher, towards $125, the next important resistance zone. Breaks are usually followed by stronger buying, so it shouldn’t
BTCUSD (Coinbase) Bitcoin ended lower last week, as the consolidation continued to extend. The price has breached the short-term channel we highlighted and found support at $112,000, an important area of support. Looking ahead, traders should watch whether the price will be able to break above the 20 EMA on
BTCUSD (Coinbase) Bitcoin continued with a consolidative stance last week and so far, the mood doesn’t seem to have changed. The price trades inside a channel formation, yet all-time highs are not too far away. In the bigger picture, the bullish trend is intact, but a lack of bullish appetite
BTCUSD (Coinbase) Bitcoin has remained flat for the last 7 days, as volatility has shifted to the altcoin space. The bull move failed to extend higher after 2 BTC whales sold a large amount in the open market. Naturally, traders and investors and wondering whether these large players know something,
BTCUSD (Coinbase) Upside volatility in Bitcoin spiked last week after the price managed to go above the May 22nd high. Since then, we’ve seen the largest coin manage to reach several new all-time highs. Right now, the price is trading above $122k, but the move seems a bit stretched. We
BTCUSD (Coinbase) What’s happening with Bitcoin right now can be labeled as a slow grind higher, with the price getting close to the all-time high. We can see how the price action broke above a bearish channel formation and that raises the prospects for a continuation higher. On the macro
BTCUSD (Coinbase) There has been a spike in geopolitical tensions during the weekend, and that has made BTC weaken below $100k. We warned last week that this would be the greatest risk to our bullish forecast and unfortunately, it materialized. However, thus far, there is no follow-through selling and the
BTCUSD (Coinbase) Last week $110k continued to act as overhead resistance and we saw some BTC selling on the back of rising geopolitical tensions in the Middle East. Although there’s still uncertainty on when that could happen, markets don’t seem to care. Selling has been limited since the daily 20
