BTCUSD We’ve warned since two weeks ago that what’s happening with Bitcoin is a textbook “pump and dump” scheme and the price action development confirms our view. Exactly how we’ve talked in the last week crypto analysis that Bitcoin will retest the broken range and then head south, which is
Weekly Crypto Analysis by Crypto Frontline
BTCUSD Coinbase Bitcoin broke below the range structure which we’ve mentioned last week and now looks set to further erase the gains seen at the end of October. However, we believe it’s still possible the buyers will try to take the price up, but from our point of view, the
BTCUSD Coinbase As we’ve expected, the Bitcoin price did not manage to continue higher at the same impulsive pace and instead, in consolidated in a range for the past week. In our previous analysis, we’ve highlighted that the $9,000-$8,600 area will serve as support and so far, $9,000 had been
BTCUSD Coinbase A lot of twists and turns for Bitcoin during the past week, after weakening towards our targets and then surging impulsively on the upside. The massive rally covered more than $3,000 in less than two days, but now things look to have settled. We suspect the current consolidative
BTCUSD (Coinbase) During the past week, Bitcoin continued to weaken, but the selling had been capped by the lower line of the ascending channel which we’ve talked about a week ago. The price had already tested it twice in the past two days, communicating there’s relatively strong buying interest. As
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
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
