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…
Bitcoin Falls Below $60,000 Following reports of an Israeli missile strike in Iran, global financial markets reacted strongly. Bitcoin fell by 5.5% in a matter of hours, dropping below $60,000. Ethereum, the second-largest cryptocurrency, also declined, falling below $3,000 to $2,895. As geopolitical risks increased, investors moved their funds into traditional safe-haven assets, such as Read More…
Bitcoin’s remarkable rally has the cryptocurrency community buzzing as it nears the previous all-time high (ATH) of approximately $68,900. A technical analysis of the daily and weekly charts reveals a sustained upward trend that invites optimism for continued bullish momentum. The daily chart showcases Bitcoin’s substantial break above both the 50-day Simple Moving Average (SMA) Read More…
Weekly Chart Analysis: Price has formed a large rounding bottom pattern and parabolic curve, typically considered a bullish reversal signal. The price was approaching the all-time high (ATH) resistance zone, near $69,435, before swiftly pulling back after greyscale started dumping on the market. We should monitor this level closely; a decisive weekly close above the Read More…
