So far, the first week of 2024 carried in a rocky fashion for Bitcoin, with the price initially posting a new high and then dumping nearly 10%, only to rise again later. Currently, Bitcoin trades near $44,000, and we are starting to ponder about a shorting opportunity. With that said, we are paying close attention to the upward-sloping channel forming above...
After a series of bearish breakouts from the pattern resembling a triangle on the hourly chart, Bitcoin kicked off the new year on a bullish note and skyrocketed through its upper bound. By doing so, it established a new high at $45,532. Yet, despite this being a bullish development, a few things continue to ring an alarm bell for us. Last week, we noted that...
In a previous article about Bitcoin, we discussed how it has been struggling to move higher since early December 2023. Additionally, we outlined a few bearish developments on the daily chart and emphasized the weak trend. Currently, we are paying close attention to the pattern resembling an ascending triangle on the hourly chart. A breakout above the upper bound...
With a marketcap under a milion, you can't ask for a coin with stronger signs of growth. I lay it own in the video, This is a gem! If you want to keep these coming all i ask is that you subscribe and follow! Thank you!
After establishing a new yearly high on 8th December 2023, Bitcoin has been struggling to move higher. In addition to that, technicals on the daily graph began to reflect the loss of bullish momentum and started to turn bearish. Simultaneously, this has been accompanied by an ongoing decline in the number of Bitcoin addresses with balances exceeding 100 BTC and...
I zoomed out like this to show you how all these fib extension ranges were covered by a wick in a previous day Also, looks like we've had a very healthy correction. Look at how even though prices had bottomed volumes steadily been rising up like there's some serious accumulation going on
Volume Increasing, went down to bottom fib and looking to make a come back! Bull Hammer at the end of Downtrend!
Since the start of this month, Bitcoin has been trading above the upper bound of the upward-sloping channel, which begs the question of Bitcoin’s return to it. With that said, there are a few developments that we are paying close attention to. First, the number of Bitcoin addresses with balances exceeding 100 BTC is down from where it was at the start of the...
In yet first significant pullback since mid-October 2023, Bitcoin shed about 9% of its value in the past three days (with much of the decline coming overnight). In the process of doing so, it retraced almost to the 20-day SMA, which often coincides with corrections of the main trend. Despite that, there are a few developments that stand out to us. First, the RSI...
Bitcoin has been on an impressive winning streak for the past two months, seeing its market cap dominance rise more than 8%. Furthermore, today, it broke above $42,000, hitting values unseen since April 2022. While that is getting bulls drunk with greed, a few developments stand out to us. By now, probably many of you know that we have been tracking the number of...
The recent turmoil engulfing Binance, the world's largest crypto exchange, has cast a shadow over its proprietary cryptocurrency, Binance Coin (BNBUSD). The upheaval was triggered by the unexpected resignation of Changpeng Zhao amid his confession to criminal wrongdoing (facilitating money laundering) and the announcement of a hefty fine for the exchange,...
A remarkable opportunity in a currency that I've thoroughly researched and confirmed its strength, with a suitable volume for potentially high profits. The stop-loss is set close. Let me explain the chart: the green lines indicate potential buy points, the red line below the price signifies the stop-loss, and the upper lines represent initial targets. I...
Since the start of the week, the big talk in the cryptocurrency market has been about Binance and its CEO, Changpeng Zhao. On Tuesday, the U.S. Securities Exchange Commission announced that the CEO of the largest crypto exchange in the world pleaded guilty to a federal charge involving money laundering. Simultaneously, Binance admitted that it had not implemented...
For the past week, Bitcoin remained choppy between $35,000 and $38,000. During this period, there was no significant change in the number of Bitcoin addresses with balances exceeding 1,000 BTC; however, the number of Bitcoin addresses with balances exceeding 100 BTC rose a bit (in fact, it has been trending up slightly since 11th November 2023). In addition to...
Bitcoin attempted to establish a new high above $37,978 in the past two days but failed. In the meantime, the decline in ADX on the daily chart began to reflect a slight loss of bullish momentum; additionally, MACD, Stochastic, and RSI reversed, now pointing to the downside. These actions heighten our alert level as we continue to see the falling number of Bitcoin...
After hitting nearly $38,000 last Thursday, a questionable relationship between the rising price of Bitcoin and decreasing volume continues to develop. In addition to that, the data obtained from LookIntoBitcoin reveals the number of Bitcoin addresses with balances exceeding 100 BTC dropped from 16,029 to 15,966 between 8th November and 13th November 2023, marking...
"As we enter the bullish season, the initial target to aim for is target : 100 🎯. This is based on a combination of technical analysis indicators and market trends. However, it's important to approach trading with caution and adapt to changing market conditions. Keep an eye on key support and resistance levels, as well as any significant news or events that may...
While Bitcoin hovers slightly below $35,000, the volume continues to decline, suggesting a decreasing interest among buyers near the current price tags. Consequently, we remain very vigilant and monitor the situation. On the daily chart, RSI is approaching 70 points; if it breaks below this level, it will bolster the odds for a trend reversal. In addition to that,...