BTCUSD (Coinbase) Bitcoin’s bullish momentum stalled and as we can see from the chart, the picture doesn’t look good for buyers. A trend line going back to July when the downturn started continues to cap the upside, which means the price is locked in between $27,000 and $25,000 for now.
Weekly Crypto Analysis by Crypto Frontline
BTCUSD (Coinbase) In line with last week’s projections, $25,000 turned out to be a very strong support area for Bitcoin. As you can see from the chart, that was the starting point for a strong bounce and now it looks like the price action structure has changed in favor of
BTCUSD (Bitstamp) Despite a lack of directional bias last week, Bitcoin is forming a base around $25,500. That’s good news for bulls and as long as the price manages to stay above the level, we see scope for further upside. This is an important week since a new batch of
BTCUSD (Coinbase) Last week we saw a pick-up in bullish sentiment after Grayscale managed to stage a court win against the SEC. This could be an early indication that a US-listed BTC ETF is not too far, so the enthusiasm might have been justified. Still, the market wasn’t able to
BTCUSD (Coinbase) Bitcoin has been consolidating in a narrow range after the slump. This suggests market participants are waiting on the sidelines for further clues. As you can easily notice from the chart, the price is gravitating above and below $26,000. At this point, the bears are still in control.
BTCUSD (Coinbase) Last week was one to forget for Bitcoin bulls given the price slumped impulsively. We can see from the daily chart the magnitude of the move, as BTC broke below the 200 SMa and managed to find support around an ascending trend line. Buyers managed to cap the
BTCUSD (Coinbase) Bitcoin buyers have not been strong enough last week, hence the price failed to break and hold above the $30,000 key area. As we expected, a cluster of resistance was found around that level, since the 200 SMA + a falling trend line were overlapping there. In the
BTCUSD (Coinbase) Bitcoin buyers are still in an uncomfortable position, given the price fails to break and hold above the 20 EMA on the 4h chart. On top of that, despite a temporary bullish spike last week, we can easily see how the market viewed the $30,000 level as a
BTCUSD (Coinbase) Bitcoin broke below $30,000 on Monday and since then consolidated below the level, suggesting the market sentiment shifted as a result. The daily chart shows the price trading below the 20 EMA and the RSI heading south, which is a situation favorable for sellers. However, when looking at
BTCUSD (Coinbase) The bottom of the range at $30,000 seems to be weakening, considering BTC has been trading below that level most of last week. Additionally, when looking at the 4h chart, the relationship with the 20 EMA is shifting in favor of bears, which is why we give a
