This morning, Bitcoin price began to fall from a high timeframe bear flag that was formed following a breakdown of a multi-month triangle chart pattern – a pattern that signaled the end of the 2019 bull rally and possibly a major market trend reversal. With the rally now over, and given that the chart patterns…
The weekend has been largely lethargic for Bitcoin and crypto markets with little movement out of their trading ranges. A couple of tests of resistance occurred but BTC was beaten back by the bears and quickly retreated to its support level. A breakout will come soon and traders are eyeing entry and exit zones. Bitcoin…
Bitcoin has spent the past two weeks consolidating just below the 200 day moving average. So far it has managed to cling to support above $8,000 but a big move could be coming soon so which way will it go next? Bitcoin Trading Range Tightens Another day has seen Bitcoin bounce between $8,300 and $8,400…
After Bitcoin price broke down from its multi-month triangle formation, the entire crypto market is watching, waiting, and wondering where the bottom of the current downtrend is. But according to a fractal that appears shockingly similar to Bitcoin’s bear market bottom, the crypto asset has already bottomed and is about to explode back up to…
Following a continued downtrend and recent lows around $7,700 being defended by bulls, Bitcoin price is currently trading at $8,300 after a surge to $8,800 overnight last night was rejected with force by bears. However, according to a bullish crossover on the already oversold daily MACD, Bitcoin price could be targeting the previous high of…
Since the start of the week, Bitcoin price has rallied from a retest of lows around $7,700 to $8,700 – gaining over $1,000 in value during the short timeframe. The rise in Bitcoin price was also yet another retest of the asset’s 200-day moving average, and what happens from here could determine the trend ahead.…
A new technical analysis indicator has been launched that is named after an iconic trader who accurately predicted Bitcoin’s bottom over a year before it happened, due to his familiarity with parabolic assets retracing after an overly powerful rally. The indicator in question gave a sell signal just before last week’s massive Bitcoin price crash,…
Last week, following disappointment surrounding the much anticipated Bakkt launch, Bitcoin price smashed below $10,000 and plummeted over 20% to under $8,000 before it found support in the high $7,000 range. The move sent Bitcoin price through the 200-day moving average, with multiple daily closes below it. However, after the leading crypto asset bounced from…
Throughout much of 2019, Bitcoin’s store of value narrative took a back seat to a new narrative developing around looming economic recession and the asset’s scarcity making it a safe haven asset much like gold. Bitcoin has had many comparisons to the precious metal, and is considered to be its digital counterpart. But Bitcoin also…
The momentum behind Bitcoin price turned from bullish to bearish this week, when the crypto asset fell through the bottom of a triangle it had been trading inside, plummeting over 20% in value. The force of the drop took Bitcoin price down far enough where it tested the 200-day moving average as support – a…