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
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) As we’ve anticipated a week ago, Bitcoin managed to rebound from the lows and even managed to surpass the $50,000 mark before finding resistance. The upside was capped around $51.8k and for now, that is where sellers are expected to rejoin the trend. Yesterday, the US Senate passed
BTCUSD (Coinbase) The inevitable had occurred and Bitcoin is now poised to end the week with sharp losses. The price tumbled from a record high to as low as $44,000, communicating there is little interest from the buy-side. However, as the week is wrapping up, the price is also approaching
BTCUSD (Coinbase chart) The last week of February is about to start and the Bitcoin rally sees no end in sight. The price managed to exceed our last week’s upside target and it is now poised for a continuation towards the key $60,000 area. Looking at the 1h chart, we
BTCUSD (Coinbase chart) Bitcoin finally broke above the January 8th high last Monday and since then it never looked back. We can see on the chart how the price action is floating above the 4h chart 20 EMA, treating as a short-term support level. As long as the structure won’t
BTCUSD (Coinbase chart) Bitcoin buying improved over the past week as the price continued to rise towards the $40k area, where it encountered short-term resistance yesterday. Overall, the price is heading towards the upper area of the corrective structure that started on January 8th. Buyers need to be aware that
BTCUSD (Coinbase price) Bitcoin continues its choppy trading phase and there doesn’t seem to be a sustained interest from the buy-side, the kind of which might trigger the next leg up. What’s encouraging for bulls, though, is that the price action found support several times around $30k-$29k. If that zone
BTCUSD (Coinbase) Bitcoin continued to underperform during the past week, as the US dollar consolidates higher and the global risk appetite is headed south. On top of the negative sentiment, the technical picture confirms buyers are not showing high interest to get involved. The triangle formation we’ve talked about last
BTCUSD (Coinbase chart) In line with our warnings last week, Bitcoin dropped more than 20%, finding support around the $30,000 area. Even though there wasn’t follow-through selling and the buyers managed to erase some of the losses, a new all-time had not been reached and in fact, we see the
BTCUSD (Coinbase chart) Bitcoin continues its impressive bull run and managed to reach $40,000. At the time of writing, the price is hovering near $41,000 after briefly touching $42,000. Even though there is still no sign of a short-term top, we can see massive divergence with the RSI, considering the
