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
Weekly Crypto Analysis by Crypto Frontline
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
BTCUSD (Coinbase) Despite the thin liquidity around the Easter holiday, Bitcoin sellers are relentless and still drive the price lower. As things stand right now, there is little hope for a fast pullback on the upside, given the buyers look overwhelmed when looking at the daily chart. With that being
BTCUSD (Coinbase) Despite the positive developments we talked about last week, Bitcoin took a turn for the worse and broke below a key support area, highlighted in blue on our chart above. At the same time, the price breached the 20 EMA and there are few price action hints suggesting
BTCUSD (Coinbase) The past week has been choppier for Bitcoin, even though the price managed to break above the February 10th high. We can see there are sellers near the daily 200 SMA because that is where the price pulled back. With that being the base, the sentiment should remain
BTCUSD (Coinbase) In line with our last week’s expectations, Bitcoin continued to move up and is now trading inside a resistance area around $44.5k – $45.5k, a place where it got rejected three times already. Because sellers were active there in the past, we should not exclude a pullback towards
BTCUSD (Coinbase) Since last week, Bitcoin’s price action developments have improved in favor of buyers, considering we see it above the triangle structure. Tech stocks banked four consecutive days of gains, so even if crypto as a whole lagged, next week we might see an extension on the upside. This
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