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
Weekly Crypto Analysis by Crypto Frontline
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
BTCUSD Bitstamp The price of Bitcoin managed to rebound around the $9,100 support and then edge higher towards the 4h chart 200 moving average. Currently sitting around the $10,650 area, there seems to be much weaker selling activity around the MA, which could point for some further gains. Still, Bitcoin
BTCUSD Bitstamp After retesting the 4h chart 200 moving average, Bitcoin started a new leg lower that seems to be headed towards the $9,000 area, where we could see some reactions from the buyers. A breakout below it could mean that the price will head towards the bottom line of
BTCUSD Coinbase As we have expected in our last weekly analysis, Bitcoin continued to weaken and reached a new July low at around $9,049. Looking at a bigger picture, we are in a downward flag, which is still a corrective price action formation. Although selling had intensified for the past
