Archive | bitcoin technical analysis

Bitcoin (BTC) Price Watch: Down But Not Out!

Bitcoin Price Key Highlights Bitcoin price appears to be keeping its head above the near-term area of interest at the channel support. If a bounce back to the resistance happens, an inverse head and shoulders pattern could also be completed. A break past the channel top could be enough to confirm that a long-term uptrend… […]

Bitcoin Price Weekly Analysis: BTC/USD’s Triangle Break Near

Key Points Bitcoin price formed a decent support near $6,050 and recovered against the US Dollar. There is a key triangle forming with resistance near $6,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is facing many hurdles on the upside near the $6,300 and $6,450 levels. Bitcoin price… […]

Bitcoin Price Watch: BTC/USD Upsides Remain Capped

Key Points Bitcoin price declined below the $6,100 level before recovering substantially against the US Dollar. There is a major bearish trend line in place with resistance at $6,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must break the trend line resistance and $6,350 to move further higher… […]

Bitcoin (BTC) Price Watch: Next Potential Support Zone

Bitcoin Price Key Highlights Bitcoin price has broken below that near-term area of interest and is setting its sights on the next support zone. Price could fall to the very bottom of its range visible on longer-term charts, where buyers may be waiting. Technical indicators reflect weakening bullish momentum and a return in selling pressure…. […]

Bitcoin Price Watch: BTC/USD Trend Overwhelmingly Bearish

Key Points Bitcoin price declined further and broke a key support at USD 6,300 against the US Dollar. There was a break below a contracting triangle with support at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently under pressure and it remains at a risk of… […]

Bitcoin (BTC) Price Watch: Still Fighting to Stay Afloat

Bitcoin Price Key Highlights Bitcoin price is still hovering at the area of interest visible on the 4-hour time frame as buyers and sellers battle it out. A small consolidation pattern can be seen at current levels, and this could be seen as a bearish continuation signal. If any of the retracement levels hold, an… […]

Bitcoin Price Watch: BTC/USD Primed for Losses

Key Points Bitcoin price failed to hold an important support at $6,550 and declined sharply against the US Dollar. There was a break below a key bullish trend line with support at $6,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating near the $6,300 level and… […]

Bitcoin Price Watch: BTC/USD Near Crucial Juncture

Key Points Bitcoin price declined further and broke the $6,680 and $6,600 support levels against the US Dollar. Yesterday’s highlighted connecting bearish trend line is intact with resistance at $6,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $6,550 support zone to avoid more declines… […]

Bitcoin (BTC) Price Watch: Potential Bounce Targets

Bitcoin Price Key Highlights Bitcoin price is still inside its short-term ascending channel but is on its way to test support. If the near-term floor holds, the Fibonacci extension tool on this pullback shows the potential upside targets. Technical indicators are suggesting that the rally could carry on from here. Bitcoin price looks prime for… […]

Bitcoin Price Watch: BTC/USD In Steady Uptrend

Key Points Bitcoin price spiked above the $6,800 resistance recently before correcting lower against the US Dollar. There is a short-term bearish trend line in place with resistance at $6,730 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to move further higher above the $6,750 and $6,800… […]

Bitcoin (BTC) Price Watch: Ascending Channel Below Major Support

Bitcoin Price Key Highlights Bitcoin price has formed higher lows and found resistance at the $6,785 level to create an ascending triangle. Price is testing the pattern’s resistance, which lines up with the broken long-term support visible on the 4-hour chart. Technical indicators are suggesting that the ceiling could hold for now. Bitcoin price is… […]

Bitcoin Price Weekly Analysis: BTC/USD Could Break $7,000

Key Points Bitcoin price formed a strong support base near $6,450 and jumped higher against the US Dollar. There is a major ascending channel in place with support at $6,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains supported and it is likely to move further higher above… […]

Bitcoin Price Watch: BTC/USD Could Break $6,400

Key Points Bitcoin price struggled to move above the $6,600 resistance area and declined against the US Dollar. Yesterday’s highlighted crucial bullish trend line was breached with support at $6,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently heading towards an important support area near $6,420-00. Bitcoin… […]

Bitcoin (BTC) Price Watch: Another Reversal Pattern About to Form?

Bitcoin Price Key Highlights Bitcoin price is still stalling on its potential reversal as it tests another area of interest. A new reversal pattern that could turn out to be an inverse head and shoulders appears to be forming. In that case, bitcoin price might form a shoulder by dipping back to $6,000 before attempting… […]

Bitcoin (BTC) Price Watch: Bulls Defend Wedge Support

Bitcoin Price Key Highlights Bitcoin price continues to consolidate inside its rising wedge formation visible on the 1-hour chart. Price has bounced off support to test the resistance and is now back to the bottom once more. Technical indicators appear to be suggesting that the uptrend is more likely to resume than to reverse. Bitcoin… […]