Bitcoin Bulls Buy Back Bitcoin has maintained its position as the leading cryptocurrency in 2024, building on the momentum generated by the historic approval of spot Bitcoin ETFs in January. The digital asset, which started the year trading around $45,000, has rallied 58% since January. Wall Street’s traditional finance giants, including BlackRock and Fidelity, have Read More…
Introduction Bitcoin is up 43% YTD and 131% for the past year. The surge has come after a horrific bear market that saw ‘digital gold’ crash by 80%. The rally we have seen has now stalled, and the chart is no longer printing aggressive higher highs like we saw earlier in the year. However, it Read More…
Technical Analysis: Descending Channel: The primary structure in play is a descending channel, which has kept price action constrained between roughly $75,000 and $50,815. Until Bitcoin can decisively break out of this channel, the prevailing trend remains slightly bearish in the medium term but still bullish in th belong term. Potential Support Levels: Short-Term Outlook: Read More…
Introduction Bitcoin has plunged to levels not seen since February, briefly dipping below the $50,000 mark. This dramatic sell-off comes just days after Bitcoin was flirting with the $70,000 level. This is part of a broader market sell-off triggered by renewed recession fears, as even the big indices started falling on Monday. Investors, already on Read More…
Introduction Bitcoins’ huge bull run in 2024 may be coming to an end as the ‘digital gold’ daily chart may be looking at a very scary triple-top formation coupled with bearish divergence. 2024 Performance BTC is up 54% YTD and 160%, looking back on one year. This has followed the traditional cycle of a bull Read More…
Introduction Based on our analysis this week, we can see that Bitcoin is currently in a short-term bearish trend after a big pump at the start of the year. There is a descending channel pattern starting from late March. This pattern is characterized by consistent lower highs and lower lows within the channel. Support and Read More…
