BTCUSD (Coinbase) Bitcoin sentiment continued to improve during the last couple of days. No news is good news for risk assets, meaning in the absence of a major risk event, prices continued to rally. Looking at the chart above, we can see how the price is currently consolidating around $67k.
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) For this week’s crypto analysis, we’re shifting to the daily chart because we want to point out how Bitcoin continues to be in consolidation mode. You can see how the price is trading inside a bearish channel and only after a breakout higher should traders change their sentiment
BTCUSD (Coinbase) Although Bitcoin briefly broke below the $60k area, the FOMC turned out to be more dovish than the market expected. That acted as a tailwind for risky assets and we can see how Bitcoin benefited as well. We are bullish short-term, as long as the price stays above
BTCUSD (Coinbase) Last week we mentioned that if BTC weakens and moves back close to $60k, that will be a bearish sign. As you can see from the chart, once the price broke impulsively below the 4h chart 20 EMA, buyers failed to reverse the order flow. This is also
BTCUSD (Coinbase) The 2024 Bitcoin halving is now behind us and the price seems to be performing well, at least during the last few days. In line with our last week’s projections, the area close to $60,000 acted as strong support, so congratz to those who managed to enter long
BTCUSD (Coinbase) The last few days have been about geopolitics and risk assets took a dive as markets feared a new conflict in the Middle East will emerge. Bitcoin was also under pressure and we can see how the price slumped all the way to that March 20th low around
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
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
