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
Weekly Crypto Analysis by Crypto Frontline
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
BTCUSD (Coinbase) Last week we’ve mentioned that at best, Bitcoin should consolidate as the end of the month is approaching. Our assumption turned out to be true, considering BTC is now trading around $27,500, unable to remain above $30,000 for too long. When looking at the daily chart, sentiment is
BTCUSD (Bitstamp) Bitcoin’s price continued to rise last week, but not at the same impulsive pace. We can see how the $31,000 area acted as resistance and since then, BTC broke below the 4h chart 200 EMA. Selling volumes picked up a bit, which means the market is cautious, which
BTCUSD (Coinbase) Bitcoin continues to rise and has recently reached the $30,000 key resistance area. A new high for the year is a positive development for buyers and if the price manages to hold above the psychological support, we believe the move could extend a bit higher. More specifically, we
BTCUSD (Coinbase) Bitcoin failed to continue rallying and we can see how the $28,600 area acted as a strong resistance. The price is now trading below the 4h chart, RSI is headed toward oversold and volumes have decreased materially. All of these factors point to a more defensive approach from
