BTCUSD (Coinbase) Bitcoin is testing the upper line of our consolidation channel again and for that matter, we believe the likelihood of a breakout and extension higher has increased. When the price is squeezed towards a key area, eventually a spark in volatility occurs. Seasonality also helps the mood, so
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) The waiting game continues as Bitcoin remains below a key resistance zone. We’re talking about the daily 200 SMA + the falling upper line of the consolidation channel. So far, buying pressure hasn’t been strong enough to generate a sustained break, meaning there could be more choppiness in the
BTCUSD (Coinbase) Our bullish tilt from last week turned out to be true since Bitcoin continued to move up and temporarily breached the consolidation channel. However, we are seeing some weakness to start the new week and that should keep buyers on hold for now. It could be geopolitics since
BTCUSD (Coinbase) Risk sentiment got a boost last week after the FED decided to cut interest rates by 50 bps. The market took it as a stimulating sign and figured out that the largest central bank wanted to boost liquidity in order to prevent further deterioration in the labor market.
BTCUSD (Coinbase) We had a short-term rally last week, yet Bitcoin failed to hold above $60k. It’s important to note that the second half of September is the most bearish period of the year, so we should expect to see weakness until the October bullish seasonality kicks in. As we’ve
BTCUSD (Coinbase) Bitcoin weakness was also the key theme last week, and the price could barely find temporary support around $53.5k. Still, that’s not strong enough to suggest the tide has turned in favor of buyers. September bearish seasonality is ruling the game and we might see more selling before
BTCUSD (Coinbase) Bitcoin failed to hold above the daily 200 SMA and as we’ve stated in our last weekly analysis, that could be a potential bearish sign. Rightfully so, bears took control and drove the price below $60k which is another important support area. Things are complicated right now, not
BTCUSD (Coinbase) Bitcoin buyers continued to gain some ground last week and as we wanted, the price managed to break and hold above the daily 200 SMA. That seems to be the case so far and suggests the balance has shifted in favor of bulls. However, looking at our chart
BTCUSD (Coinbase) Bitcoin ended flat last week as volatility compressed. Even though the risk sentiment improved across all financial markets, it did not end as a positive factor for BTC’s performance. We believe the main reason for that is the break below $53k. That generated a lower high and now
BTCUSD (Coinbase) In line with our expectations, Bitcoin did manage to rebound substantially, as risk sentiment stretched on the downside. Although it broke above $60k, the combination of the 20 EMA and 200 SMA on the daily chart turned out to be strong. The price is now seen retracing lower
