BTCUSD (Coinbase) After reaching a new high for the year, Bitcoin consolidated in a pretty narrow range, still trading above $30,000. Although the rally did not extend any further, the uptrend continues to be intact and the current consolidation serves as a foundation for another leg higher. The price is
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Bitstamp) The market sentiment improved substantially since last week on the back of news related to the BlackRock Bitcoin ETF. That could mean new future inflows into BTC and market participants decided to front run. Technically, the price broke above the falling trend line we’ve talked about and naturally,
BTCUSD (Bitstamp) In line with our last week’s expectations, Bitcoin did reach the $25,000 support area and bounced impulsively off of it. We continue to believe that zone can cap the downside unless an unexpected risk event pops up in the media. Volatility seems to be compressing and BTC is
BTCUSD (Bitstamp) Last week has been bearish for Bitcoin and the broader market as the US SEC started an investigation on Coinbase and Binance, two of the largest exchanges. Because of that, it should be no surprise to see the market continued to treat the daily 20 EMA as overhead
BTCUSD (Coinbase) Despite strong risk appetite across all stock markets last week, Bitcoin failed to deliver. In fact, we see the price ended in the red for the week and now trades below the 20 EMA. Moreover, the falling trend line continues to be in play, as buyers didn’t even
BTCUSD (Bitstamp) The market mood improved substantially since Thursday last week and now we see Bitcoin attempting a breakout above a trend line that goes back to mid-April. Since then, this coin has been retracing lower, but now that the uncertainty around the US debt ceiling is over, traders have
BTCUSD (Coinbase) We’ve seen Bitcoin volatility continuing to compress over the last week and now the price is locked into a short-term triangle pattern. Naturally, the direction of the breakout could dictate where the price is headed next and as a preliminary assumption, we give a slight edge to sellers.
BTCUSD (Coinbase) Bitcoin is currently showing some signs of recovery to start the new week, yet when analyzing the broader picture, it looks more like a topping formation. More specifically, we suspect this could be a head and shoulders pattern and as long as the price trades below $30k, this
BTCUSD (Bitstamp) Bitcoin ended slightly negative last week and that sentiment seems to be extending, considering we see an inability to break above $30,000. As we’ve mentioned in the past, that’s an important line in the sand and as long as buyers can’t push BTC above it, more selling could
BTCUSD (Bitstamp) Bitcoin recovered during the first half of last week, but $30,000 turned out to be a very strong resistance. We are now seeing sellers pressuring the daily 20 EMA and that’s not an encouraging sign ahead of a new week packed with macro data. From our point of
