BTCUSD (Coinbase) Same as April, the month of May started with an upbeat tone for Bitcoin, which had broken above the last month high and reached our key $5,790 – $5,890 resistance area standing around a previously broken floor. Thus far the buyers were unable to push the price action
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase chart) The positive momentum in Bitcoin seems to have faded in the last few days, as the price weakened, despite managing to reach the $5,600 area. Also, the price action breached below the ascending trend line we’ve talked about two weeks ago, another bearish signal, which might communicate
BTCUSD Coinbase Although we’ve seen some weakness in Bitcoin more than a week ago, it seems like buyers are keeping their ground firmly. An ascending-type triangle formation is currently unfolding, communicating that sellers are being squeezed out of the market. Traders should watch for breakouts around $5,345 and $5,500 area,
Bitcoin (Bitstamp chart) Although it managed to start the month of April in a strong way, Bitcoin did not manage to sustain the bull run for the past week and the price action stalled around the $5,200-$5,326 key resistance area. A false break setup took place on April 10th, trapping
BTCUSD (Coinbase chart) The less likely scenario mentioned in our last weekly crypto analysis occurred and what followed is a massive breakout which led the Bitcoin price to a new 2019 high, located around $5,350 on the Coinbase exchange. At the present time, the price seems to struggle around the
BTCUSD (Coinbase) The bullish parabolic structure continued to advance higher after the buyers started to rebound around the 4h chart 200 moving average. It’s encouraging to see Bitcoin managed to make new weekly highs, but still, volatility and volumes remain very low. As you can see from our chart, we’ve
BTCUSD Bitstamp For the past week, the Bitcoin momentum continued to be weak, which is why the price action had been consolidating between $4,036 and $3,925 levels. Another brief selling which wiped out a few days of gains took place in the middle of the week, communicating how fragile the
BTCUSD Bitstamp Last Sunday Bitcoin dropped impulsively after testing our $4,173 resistance level, and since then no significant activity can be seen. The price action had been locked in a range between $3,873 and $3,715 and until a breakout on either side will take place, we’ve changed our outlook
BTCUSD Bitstamp During the past week, the Bitcoin price managed to break above the consolidation structure and as we can see, strong gains followed. Right now, Bitcoin is close to challenging the December 2018 highs, but despite the positive momentum, we would like to remain cautious. Even though significant gains
BTCUSD Bitstamp Bitcoin volatility shrank for the past week, which is a good thing for bulls, considering that the consolidation took place after a breakout above the 4h chart 200 moving average. We suspect the area above and around the MA will act as significant support, raising the odds of
