BTCUSD Coinbase The Bitcoin rally continues relentlessly, even though financial markets had been under pressure the past week. As we can see from the chart, buyers are pressing the 2019 highs and even managed to briefly break above, suggesting the momentum continues to be strong. In case the price will
Weekly Crypto Analysis by Crypto Frontline
BTCUSD Coinbase It was another positive week for Bitcoin considering the price broke above the August high and reached 13,300 for the first time since July 2019. This positive development had been triggered by the latest news from PayPal, which will allow, buying, selling, and Bitcoin storage for US customers.
BTCUSD Coinbase After breaking above a triangle formation impulsively, Bitcoin had managed to reach the $11,700 area, but since October 12th, it started to consolidate again in what seems like another triangle. Volatility had gradually dropped while the buyers are still in control short-term, considering the price had not managed
BTCUSD Coinbase In our last weekly crypto analysis, we’ve highlighted that Bitcoin volatility was dropping as the price was ranging inside a triangle formation. The structure was broken on the upside on October 8th, and since then the buyers had regained control. Some short-term resistance seems to have emerged around
BTCUSD Coinbase Bitcoin volatility continues to compress as does its price, currently trading inside a triangle formation. Given the high degree of uncertainty during the past few weeks, it is hard to anticipate the direction of the breakout, which means traders should play the structure until that happens. Support had
BTCUSD Coinbase The price of Bitcoin continued to fluctuate between a key support area located around $10,400 – $10,100, and the 4h chart 200 MA, which is also reinforced by a short-term descending trend line. Although the price had managed to recover some losses during the past few days, it
BTCUSD Bitstamp After breaking above the consolidation structure we’ve talked about a week ago, Bitcoin continued to recover but encountered resistance around $11,100, a resistance reinforced by the 4h chart 200 MA. Since the RSI was also easing after reaching overbought territory, the price action seems to have stalled for
BTCUSD Bitstamp The $10,000 area had been strong-enough support for Bitcoin and the past week, the price formed a short-term bottoming formation around it. However, the upside had been limited and the $10,500 capped further buying. It’s good to see the RSI rising from oversold levels, but compared to the
BTCUSD Bitstamp In our last weekly crypto analysis, we were right in our assumption that Bitcoin can continue lower, towards the key $10,500 support. The selling pressure had been stronger than we have thought, and the price actually found support around the $10,000 key support area. The market activity is
BTCUSD Bitstamp In our last weekly crypto analysis, we’ve highlighted that if Bitcoin continues to trade below the 4h chart 20 EMA, that would be a negative sign and the downturn could persist. That’s exactly what happened, and we currently see the price still in the corrective phase. The activity
