BTCUSD Coinbase Following the September selloff, Bitcoin is now consolidating into an ascending channel. The past week had been choppy, with selling resuming after news that big payments companies withdrew from Facebook’s Libra project. We now see a series of higher lows and higher highs building up, which means that
Weekly Crypto Analysis by Crypto Frontline
BTCUSD Coinbase For the past week, the Bitcoin’s performance had been quiet, but still, sellers had been the ones in control over the order flow. At the time of writing, we’re back below the $8,000 area and it seems like the sellers want to retest the short-term bottom located around
BTCUSD Coinbase What we’ve assumed for the past few weeks turned out to be right and Bitcoin eventually broke below the triangle formation, as well as below the daily 200 moving average. The bigger picture had shifted towards the sell-side and we believe there’s more pain ahead for the largest
BTCUSD Coinbase The Bitcoin volatility continues to compress as the price fluctuates inside a nice symmetrical triangle structure. Since the market had almost filled the entire structure, a breakout looks imminent somewhere during the next two weeks. Thus far, the 4h chart 200 MA acted as a dynamic resistance, which
BTCUSD Coinbase For the past week, Bitcoin continued to trade undecided inside a falling short-term price channel, showing there’s a relative balance between both buyers and sellers. The market looks to wait for either a strong positive or negative news before breaking on either side, but what we know for
BTCUSD Coinbase The Bitcoin price continues to edge higher during the past week but failed around our bearish trend line, where stronger selling emerged again. At the time of writing, we are little above the line, but there seems to be selling interest around the 4h chart 200 MA. With
BTCUSD Coinbase As we’ve expected for the past weeks, Bitcoin started to weaken impulsively and it is now trading around $9,600 on the Coinbase exchange. We don’t think the selling had ended and there could more room in the near term. The key support area to watch stands between $9,100
BTCUSD Coinbase Although we have a choppier activity in the past week, Bitcoin was not able to stay above the 4h chart 200 moving average and it did not even manage to reach our falling trend line. That’s not a very good sign for buyers which may signal further losses
BTCUSD Coinbase The trendline which we’ve mentioned several times in the past few weeks managed to hold and as a result, sellers resumed impulsively, driving Bitcoin towards the $9,500 area. As long as the price will remain below the trendline, we will continue to be in consolidation phase and the
BTCUSD Coinbase As we’ve already anticipated, Bitcoin encountered resistance around the descending trend line, with buyers unable to keep the price above it for more than 24 hours. However, the selling pressure seems to be weak, as the last 20+ candles of selling can barely cover less than 8 candles
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