BTCUSD (Coinbase) A week ago we’ve warned that a breakout below a short-term ascending trend line could generate an impulsive selloff and as it can be easily noticed from our chat, the price dipped towards $46,000 before finding some buyers. However, the price action context continues to be favorable for
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) Bitcoin had continued to recover from the April selloff, but still trades below the all-time high and not yet confirming the bias changed towards the bulls. At the time of writing, the price action is struggling to break above $58,300, which is why the prospects for a continuation
BTCUSD (Coinbase) A week ago we did not exclude a potential rebound in the BTC price and as it can be seen from the chart, that’s exactly what happened. The buyers took short-term control over the order flow but failed to break around our first major resistance zone located around
BTCUSD (Coinbase) As we’ve anticipated in our last weekly crypto analysis, Bitcoin continued to weaken due to deteriorating risk sentiment and overbought conditions on higher time frames. Looking at the 4h chart, the $50,000 area had recently acted as resistance, given the price action failed to break back above it,
BTCUSD (Coinbase) Weekend activity in Bitcoin had intensified as market participants are dumping the token on the back of negative headlines. Turkey announced a ban on Bitcoin payments and so far, the market does not seem to like the news. The selloff had started little below the $65,000 resistance area
BTCUSD (Coinbase) Bitcoin continues to press higher and the price is now hovering above $60,500 as buyers remain resilient. Since it is trading near the all-time high, our bias continues to be tilted towards the upside. If the resistance near $62,000 will fail to cap more buying, then the next
BTCUSD (Coinbase) The longer-term Bitcoin picture had not been deteriorated, even though the price is struggling to break above $60,000 since mid-March. We can easily notice a key resistance area around $58k – $60k, but at the same time, a series of higher highs, the last two emerging around or
BTCUSD Coinbase Over the past week, the sellers had been in control as the BTC price failed to break above the former February all-time high located around $58,300. Now the price is moving lower inside a downside channel that so far had been respected by the market accurately. As long
BTCUSD (Coinbase) Even though a week ago conditions were favorable for a continuation higher, Bitcoin failed to do that. Rising US dollar combined with news from India potentially preparing a ban on crypto use had deteriorated the sentiment and BTC dipped below $58.3k, a key role reversal level. Since the
BTCUSD (Coinbase) After continuing the recovery during the week, Bitcoin managed to break above the prior all-time and now is trading above $60,000 for the first time in history. Based on prior similar occasions, a breakout above new ATHs had been followed by sustained buying, which is why it is
