BTCUSD Coinbase As we’ve expected in our last weekly analysis, Bitcoin was unable to break above the 4h chart 200 MA stay there. Sellers emerged with strength and now the price continues to consolidate below the moving average. The next week could be key in determining the next impulsive direction
Weekly Crypto Analysis by Crypto Frontline
BTCUSD Coinbase The past week had seen Bitcoin mostly flat, with buyers not managing to hold the short-term gain. The price is close to the level it was when we wrote our past weekly analysis and that’s not a very encouraging sign, viewed from a broader picture. Bitcoin continues to
BTCUSD Coinbase Bitcoin had broken impulsively below the 4h chart 200 moving average and since then it continues to be under selling pressure. At the time of writing is sits little under the $9,000 mark but we believe there is more room to go on the downside. From a broader
BTCUSD Coinbase Bitcoin continues to quietly consolidate inside a triangle pattern, but since the formation is close to being filled, a breakout and spike in volatility look imminent. At this point, it is really hard to anticipate the next direction of price, considering the break will be the most important
BTCUSD Coinbase Following the false break above the $10,000 area, Bitcoin had remained subdued, as we’ve expected in our last weekly crypto analysis. It tested again the key area and then resumed selling, almost touching the $9,000 mark. The support area around $9,200-$9,400 had capped the downside so far, but
BTCUSD Coinbase Bitcoin buyers showed some momentum at the beginning of the week and managed to break above the key $10,000 area. However, it wasn’t enough to spark a continuation higher, since the price action was unable to stay above the area. Since then, Bitcoin had been consolidating below $10,000,
BTCUSD Coinbase The triangle formation we’ve talked about in the future is almost filled and just a few hours ago the buyers managed to break above it. However, there’s no follow-through buying for now, which means this could also be a false break or fakey. Traders should watch how the
BTCUSD Coinbase Bitcoin had not yet managed to retest the $10,000 area, as the price started to weaken just shy of the level. However, the price action does not suggest a change in the order flow occurred, but rather a corrective phase which is still favoring the bulls. Looking at
BTCUSD Coinbase Following the halving, Bitcoin had remained positive and currently, the price action is pointing towards a new retest of the key $10,000 area. Looking at the bigger picture, we can notice a cup-and-handle” type pattern, which communicates the order flow had not changed and the bulls are heavily
BTCUSD Coinbase Even though Bitcoin started the week in an upbeat tone, the last three days show the bullish momentum is fading, as the halving is priced in and buyers are taking profits. The price had found resistance around the psychological $10,000 area and since then it dropped around $2,000.
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