BTCUSD (Coinbase) Despite an encouraging start of the week, Bitcoin is poised to end in red, mainly due to the losses that started to unwind once the US inflation figures were released. Investors and traders fear inflation is sticky and that could prompt more hawkishness from central banks, in particular
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) Bitcoin reached the $19,000 area as we’ve expected last week but once that happened, an impulsive rally started to unfold. By the time of writing, buyers managed to push the price towards $21,700, a key resistance and a potential neckline for an inverted head-and-shoulders pattern. If that’s the
BTCUSD (Coinbase) Conditions have not changed with Bitcoin and even if the price has been consolidating over the past week, the sellers are still the ones in control. Right now we see BTC attempting to break below a short-term triangle formation and the probability favors a continuation lower. Low appetite
BTCUSD (Coinbase) The FED’s chair speech at the Jackson Hole Symposium was a real drag on risk assets and even Bitcoin suffered as a result of the hawkish stance. Central banks aren’t willing to show any sign of pivot, so in the meantime, there is nothing to support current valuations.
BTCUSD (Coinbase) The pain seems to have not ended for Bitcoin, considering last week was a bearish one. The price broke below our channel impulsively and now our view shifted in favor of sellers for the near term. This week will bring the Jackson Hole Symposium, where the markets expect
BTCUSD (Coinbase) Summer trading time is now the norm and we continue to see subdued ranges in the price of Bitcoin. Even though it reached $25k, buyers were unable to sustain the gains, something that usually happens in a market where liquidity is thin and false breakouts occur often. The
BTCUSD (Coinbase) Another week passed and still, Bitcoin continues to post a sluggish performance, suggesting a lack of appetite for riskier assets. The price was mostly on the retreat, even if it did not breach the channel we talked about last week. Because the ranges are narrow, we’ll focus on
BTCUSD (Coinbase) It has been another steady week for Bitcoin and given the price managed to break above the July 20th high, that further reinforces the slight bullish strength. We can easily notice that BTC is moving up in an ascending channel formation, so as long as it remains in
BTCUSD (Coinbase) Bitcoin had a mixed performance last week, rising during the first few days, only to give back some of the gains by Sunday. However, when looking at the broader picture, things have improved for the bulls, since the price managed to break above $22,000, a clear role-reversal level,
BTCUSD (Coinbase) Bitcoin continued to trade sideways during the past week and $21.7k turned out to be strong resistance for buyers. Still, the price did not make a new lower low, below the June 30th swing point, which means, the bulls have a slightly higher advantage. We are now waiting
