BTCUSD (Coinbase) We’re back with the first weekly analysis for 2023 and Bitcoin seems to start the year on an upbeat tone. Technically, there is a short-term bullish trend line in play, so as long as we don’t see an impulsive breakout below it, there’s scope for some more gains,
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) Not a lot of movement can be seen in the price of Bitcoin last week, consistent with what we expected in our prior analysis. However, BTC is now locked in a triangle formation, and once breached, there could be a pick-up in activity. The price is trading below
BTCUSD (Coinbase) Last week has been volatile for Bitcoin, considering the price broke impulsively above the $17,300 resistance only to find resistance close to $18,400, erasing all gains for the week. Even if we’ve anticipated the surge higher, we’ve also highlighted the risks associated with the FOMC meeting. Rightfully, the
BTCUSD (Coinbase) Not too much activity can be seen in the BTC price action over the last couple of days, suggesting market participants are in a wait-and-see mode. Rightfully so, there is a great deal of uncertainty around next week’s FED meeting that could impact all major asset classes. That
BTCUSD (Coinbase) We are finally seeing the structure of the price action changing and Bitcoin respecting an ascending trend line. Even if traders should not get overly excited, this is an early indication the holiday season could bring some more gains for the token’s price. Thus far, the $17,200 area
BTCUSD (Coinbase) Bitcoin retested the November 9th low on Monday and since then managed to recover, now projected to end the week with modest gains. However, we might be witnessing a double bottom formation, which increases the probability of a Santa Claus rally, despite the bearishness that dominated 2022. On
BTCUSD (Coinbase) Bitcoin volatility compressed even further last week, in the absence of any catalyzer that could drive the price back up. Moreover, we can see the price consolidating in a triangle pattern, so as we move into next week, the direction of the breakout could indicate where the short-term
BTCUSD (Coinbase) A new strong wave of selling unraveled over the past week, driven mainly by the bankruptcy of FTX, the 3rd largest crypto exchange in the world. Tokens have been dumped at fire sale prices and Bitcoin was one of the collateral victims. The price broke below the September
BTCUSD (Coinbase) The past week has been rather choppy for Bitcoin and even if the price made a new high, touching $21,500, we are not yet convinced the order flow is favoring a strong upside move. Sellers have been actively selling the rips and despite better sentiment in the stock
BTCUSD (Coinbase) In line with our expectations, Bitcoin finally managed to stage a short-term rally, managing to break above $20,400 for the first time since September. The move was welcomed by the buyers and now that the sentiment has improved, small dips were treated as new buying opportunities. As long
