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
Weekly Crypto Analysis by Crypto Frontline
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.
BTCUSD Coinbase After hovering around the $7,500 area for a few days, the Bitcoin price action had accelerated on the upside the past week and almost reached the $9,500 area on the Coinbase exchange. Given the parabolic structure had accelerated on the upside, backed by high volume, this could be
BTCUSD Coinbase A week ago, the Bitcoin price action context looked uncertain, but over the last few days, developments had shown that buyers are back in control. That happens because the price broke above the April 7th high and since then it treated the level as support. A new higher
BTCUSD Coinbase Bitcoin broke below the channel formation we’ve talked about in our last weekly crypto analysis but found support after touching the 4h chart 200 moving average. Since then, the price had retested the broken channel three times and buyers were unable to break back inside the structure. The
BTCUSD Coinbase The month of April continues to see Bitcoin with lower volatility and with losses erased. After almost reaching the $7,500 area, the price weakened once again below $7,000, but despite of that, it is trading inside a bullish channel formation. Despite a choppier performance, Bitcoin is recovering and
