Just a quick update to yesterday’s extended Bitcoin update: Shortly after reaching the significant resistance of the month-old descending trend-line, as of yesterday, Bitcoin got rejected and rapidly lost momentum. Failing to hold the $7400 and breach the December descending trend-line (marked light green on the following daily chart), had sent Bitcoin below the next...Read More
Whenever a year comes to its end, people start reminiscing on the last 365 days, recovering photos and memories, and the same could be expected to happen in the next few days, as this year ends. 2019 though, marks another milestone as the whole decade is coming to a close. While some people might start...Read More
Over the past three days, despite that most of the traders are off on vacation, we could see a nonsense trading around the $7200 BTC mark. The following daily chart tells the short-term story: throughout the month of December, Bitcoin can’t get over the green resistance line – including the latest tryout two days ago...Read More
From euphoria to depression: The crypto traders thought they are leaving off for Christmas in an optimistic mood; however, Bitcoin had other plans, as of now. Two days ago, following accurately touching the critical resistance level of $7700, which was discussed here many times as the short-term first significant level, the cryptocurrency got poorly rejected....Read More
Bitcoin doesn’t like to stay so long at one spot. The more it does remain, the sharper the next move will be. Let’s start from the macro-level: the last Wednesday saw Bitcoin’s huge price move of about a $1000 gain in just 12 hours – surging from below $6500 straight into the $7400 resistance (the...Read More
Bitcoin Bitcoin went through a rollercoaster of price action this week. On Monday, the cryptocurrency started to fall, and it dropped by a total of 10% by Tuesday to reach a low of $6,430. However, after that, it rebounded higher, gaining a total of 15% to climb back above the $7,000 level and reach the...Read More
After going through another volatility earlier this week, which pushed its value down to as low as $6450 on major exchanges, Bitcoin has made a quick recovery above $7,000 and is currently trading at $7,200, indicating a 1.12% gains on the daily chart. Meanwhile, Bitcoin’s dominance continues to increase and it stands at 68.3%. This...Read More
Bitcoin was a down-trend road for the past two weeks, and this is no secret. Yesterday the lowest price since May 2019 was reached once again – roughly around $6500. Once it was reached, it completed a 10-days decline of $1100 or 15%. That was the right place to ask – “Is it a time...Read More
Bitcoin and most altcoins have marked a few consecutive days of negative price action. In a recent poll regarding Bitcoins’s potential bottom, over 70% of voters said that it would be below $6,000. Additionally, the Fear and Greed Index is dropping daily, further confirming the negative sentiment among the community. Where Will Bitcoin Bottom? One...Read More
So far, the month of December 2019 reminds us of the cruel month of December 2018. Last year it was the capitulation candle to $3122 that was achieved on December 15. This year’s December isn’t disappointing the bears at all: from the monthly high that was reached on Dec 4 at $7770, down to $6530,...Read More
After two weeks of consolidation steadily above the $7000, Bitcoin broke below. If you were following the recent price analysis posts here, you would not be surprised. Bitcoin was showing weakness, not being able to overcome the mid-term descending trend-line (shown both on the following 4-hour and 1-day charts). Aside from this, the long positions...Read More