BTCUSD (Coinbase) Bitcoin volatility has been compressing for several weeks and as you can see from the chart, the price action is stuck inside a symmetrical triangle. At the time of writing, bulls are pressuring the upper line, yet no breakout occurred. If it does happen, then our next upside
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) We were right about the compression of volatility due to the Easter holiday and as you can see from our chart, Bitcoin has been trading between $68.5k and $71.5k. Neither bulls nor bears were able to generate a clear directional move, but as activity picks up again in
BTCUSD (Coinbase) The 4h chart suggests that Bitcoin weakness bottomed around the 200 SMA. As you can see from the chart, the price bounced twice after touching the orange line, suggesting there were strong buyers there. Also, the RSI retraced from overbought conditions and now buyers are better positioned to
BTCUSD (Coinbase) Even though bulls managed to push the price above the 2021 ATH, that wasn’t enough for a sustained move on the upside. Bitcoin almost touched $74,000 and then retraced sharply towards $65,000, showing that this market remains vulnerable to selling pressure. We believe traders have been ahead of
BTCUSD (Coinbase) Bitcoin is officially trading at an all-time high, after managing to surpass the $69,000 level reached in November 2021. As we expected last week, $69k acted as a temporary resistance level, but there’s nothing to cap the overwhelming flow of bullish interest. Looking at the 4 chart, we
BTCUSD (Coinbase) In our last weekly analysis, we expected continued consolidation and this assumption was wrong. Bitcoin broke above $53,000 and what followed was a major move on the upside. The price found temporary resistance near $64,000, but it’s clear now that the all-time is closer than ever this year.
BTCUSD (Coinbase) Bitcoin bullish momentum stopped on a dime after touching the $53,000 level, a key resistance we highlighted a week ago. Since then, the market traded sideways, as volatility crushed, even though there has been strong bullish momentum in the stock markets. This shouldn’t be treated as a reason
BTCUSD (Coinbase) The bullish momentum continued last week and Bitcoin is now trading at new 2024 highs. Buyers had little struggle breaking above $49,000, confirming the strong bids. Although we believe there is room for further upside, traders wanting to get long should proceed cautiously. When the market goes up
BTCUSD (Coinbase) A couple of weeks ago we highlighted the $45,000 area as key resistance and that the bull trend will only resume on a break above. The potential for a head and shoulders pattern is now negated and the prospects for a continuation towards 50,000 have improved dramatically. At
BTCUSD (Coinbase) We can’t see a lot of activity in Bitcoin during the last couple of days and it looks like buyers have shifted attention to other coins. In terms of technicals, the price is now locked inside a triangle pattern and figuring out the next impulsive move looks a
