BTCUSD (Coinbase) Bitcoin continued to be under pressure last week and we have been trading below $90k for 4 consecutive days. The next major area of support is located around $80k – $77k and we think that should provide more bullish flows. The daily chart is still showing heavy selling
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BTCUSD (Coinbase) Unfortunately for buyers, momentum fails to improve as the market continues to treat the daily 20 EMA as resistance, unable to break above it. BTC is usually correlated with the Nasdaq index and this was true last week as well, when tech stocks were under pressure. We think
BTCUSD (Coinbase) Inability to hold above the daily 200 SMA resulted in further selling last week, but thankfully for buyers, our $100k key support area managed to hold. The price is now seen recovering, on the back of positive developments in terms of the US government shutdown. This will push
BTCUSD (Coinbase) Even though November is usually positive for Bitcoin, the price doesn’t seem to follow that seasonal trend thus far. We don’t see a major break below the daily 200 SMA yet, but the sellers do have a slight edge. Technically, we see Bitcoin locked in a range between
BTCUSD (Coinbase) Bitcoin sentiment is improving to start the new week on easing tensions between China and the US. The price has breached above the $114k area, a prior swing high, suggesting buyers are willing to step in, even at higher prices. Looking at the 4h chart, the price has
BTCUSD (Coinbase) Even though the selling continued last week, we can see how the area around the daily 200 SMA managed to act as support. We highlighted last week that breaking and holding below would be a bearish sign, so since that hasn’t materialized, our expectations for the next few
BTCUSD (Coinbase) Bitcoin volatility spiked during the last few days on the back of renewed worries related to US – China trade. Although the price managed to reach a new ATH, it failed to build momentum. Selling was aggressive, but stalled close to the daily 200 SMA, an important area
BTCUSD (Coinbase) The start of October is in line with seasonal patterns, considering Bitcoin momentum gathered pace for several days in a row. It also managed to reach a new ATH yesterday, before retracing to the $123k key level. Only 2 of the last 10 closed candles on the daily
BTCUSD (Coinbase) Bitcoin closed lower last week, but managed to recover some ground on Sunday. Looking at the daily chart, we see the price locked inside a triangle formation, which puts us in a wait-and-see mode until a break happens. Short-term traders can still play both sides of the structure,
BTCUSD (Coinbase) Bitcoin buyers pushed through our short-term bearish trend line and that shifted the sentiment to bullish. The price is also trading above the daily 20 EMA and the RSI is edging up, both confirming the bullish momentum. This week, we get the FOMC and that event can stir
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