BTCUSD (Coinbase) It was another week to forget for Bitcoin as selling pressure continued to intensify, driving the price towards the peak of 2018, around $20k. The price overshoot below it, but thankfully, buyers started to get more active once $18k has been reached. Right now it’s Monday morning and
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) The crypto bloodbath continues and Bitcoin has retested the May 12th low, after a very negative weekend. Financial conditions are tightening once again which brings forward the deleveraging process. Simply put, market participants no longer want risky assets and instead want to sit on cash, afraid markets can
BTCUSD (Coinbase) Since mid-May Bitcoin seems to have entered a period of stabilization, showing on the chart as a range between $32k and $28.5k. The structure continues to hold, but we can notice buyers are getting more active, threatening to break above the 4h chart 200 SMA. In case that
BTCUSD (Coinbase) The past week saw a rebound in risk-taking, but unfortunately, this risk appetite did not favor the crypto market. The assumption we made last week was right for tech stocks, but Bitcoin has been on a steady consolidation, not managing to break and hold above the $30,000 psychological
BTCUSD (Coinbase) Sellers have taken a break following an impulsive selloff and as we can see from the chart, the price action has been consolidating in a symmetrical triangle formation. At the time of writing, the buyers seem to be improving their stance, given the price is narrowly trading above
BTCUSD (Coinbase) It was a week to forget for crypto enthusiasts as valuations took a major tumble across the board. Bitcoin slumped below the key $30,000 support area and managed to find bids near $25,000. Although the price rebounded and it’s now trading marginally above $30k, the breach below support
BTCUSD (Coinbase) The Bitcoin selloff accelerated and for 4 days in a row, the largest crypto closed with losses when looking at the daily chart. At the time of writing, BTC is close to retesting the January 24th low, which is also the current yearly low. A temporary bounce might
BTCUSD (Coinbase) Bitcoin continued to grind lower last week and managed to reach the short-term ascending trend line we’ve talked about. However, since the selloff has not accelerated, now the price seems to be correcting higher, even though we are not yet out of the woods. The area around $38k
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BTCUSD (Coinbase) Last week ended with losses for Bitcoin, as we’ve expected, but still, the price continues to trade above the ascending trend line mentioned in our last weekly analysis. Since the selling pressure has eased slightly, that might be regarded as a positive sign. However, it would be important
