cryptototrade_official

cryptototrade_official

In today's session Bitcoin suffered a strong collapse burning more than 15% in a few hours, then bounced back on the support level at 8,000 recovering a shy 5%. What was the reason for this dump? The reason is simple and we had already anticipated it in previous analysis: the quotation had reached an important level of multi-year resistance where there was an...

cryptototrade_official

As anticipated in yesterday's analysis, the quotation has reached a very important resistance level, a multi-year downtrend line that has been accompanying us since the collapse of 2017. The level to keep an eye on now is the 10,500, where we have already had a double high that has caused prices to collapse. A break of the latter, and therefore the trend line,...

cryptototrade_official

In the last few hours the quotation has broken through an important annual resistance level. Everyone, including us, expected a downward reversal that did not take place, sending the short positions to a halt. Today's bull run was attributed to the fact that the miners have reduced their sales quantities over the past seven days, anticipating halving...

cryptototrade_official

In today's session, the quotation broke the resistance line of the ascending channel upwards, kicking off a bull run that has so far posted a +15%, or an appreciation of $1,000 in 24 hours. The channel's target is positioned precisely in correspondence with the long-term trend line (9,400) where we expect a strong area of resistance that could retrace the quote,...

cryptototrade_official

Halving is the pre-programmed halving of the reward for miners who extract the cryptocurrency by confirming the various transactions. This occurs approximately every four years (210,000 blocks). We have often heard of Bitcoin as digital gold, but why? Because just like gold, which is found in nature in a limited way, Bitcoin also has a limited offer of 21 million...

cryptototrade_official

This weekend we have seen a compression of volatility that has kept prices almost stable. In these hours, just before the opening of the Asian markets, from which we expect volatility to increase, prices are starting to move, heading towards the highs reached last Thursday, trying to exceed them. We expect that in the next few hours a continuation of the race...

cryptototrade_official

Following yesterday's bull run, today's quotation moved in a fairly narrow range and trading volumes plummeted. We expect that prices could rise again to test the EMA200, where there will be a possible retracement towards 7,200. An overshooting of the EMA200, above 8,000, could bring the price to the highs on the main downtrend line in the 10,000 area. This last...

cryptototrade_official

In today's session, the quotation broke the triangle they had identified in yesterday's analysis by pushing prices up 10%. This bullish movement has also flown the highs that we had identified in the channel descended briefly, changing market sentiment. At this point we expect a continuous rise in prices towards 8,000, or rather up to 7,900, where we find another...

cryptototrade_official

In today's session the quote broke the EMA20 upwards, triggering a series of buy orders that quickly led prices to test the EMA50 with a 4% increase. At the moment it seems that bears are defending this level, but if in the next sessions it should give way, we could see a test of the resistance of the downward channel that has been formed in the last two weeks. In...

cryptototrade_official

Since yesterday's analysis at 6:00 pm, the price has fallen further by about 3%, falling below the psychological threshold of 7,000 and below the EMA20 (TF: 1D) which until yesterday served as a support. At this point, as described in the previous analysis, sentiment has become bearish with the confirmation of a lower maximum than in the previous sessions, thus...

cryptototrade_official

Following the collapse of over 60% at the end of February, Bitcoin attempted a comeback from 4,000, forming an ascending wedge. The figure bearish has been completed following the break-down of April 13; from here buyers have tried, until now without success, to bring the prices inside the figure, finding support at 6,479.6 (0,382 FIB). In the last few hours the...

cryptototrade_official

TF 1D: Following the collapse Bitcoin has attempted a recovery by reversing the short-term trend, thus forming a continuous flag pattern, but in recent sessions is turning into a rectangular triangle following two attempts to break the 7,000 area. In the last few hours buyers are having difficulty in maintaining the support of the EMA 20; a closing above the EMA...

cryptototrade_official

The current situation of Bitcoin is very uncertain, buyers are trying to maintain the support level at 6,000, which corresponds with the EMA200 on the 1W time frame. We are now just a few hours away from the weekly close, and if it will be above this support level, the market sentiment will be positive again and we could see a new test of this week's high (6,900),...

cryptototrade_official

Last week was characterized by a strong collapse of the various world stock exchanges due to the coronavirus, and Bitcoin also suffered a collapse of over 50%. The current situation is that prices are moving in boundary range forming increasing lows and with resistance at 6000. Just in these hours on the timeframe at 1h the moving averages 20 and 50 are about to...

cryptototrade_official

Although in the last few sessions the EMA200 broke down, the sellers have not been able to push the price in deep red; in fact, the latter found support on the FIB 0.5 level (8,474), thus recording a loss of just 2% as a result of this important breakdown. This indicates that there is a good propensity to buy at these levels; however, prices have been rejected...

cryptototrade_official

In the last sessions the bulls are trying to bring prices above 9,000, keeping as support the EMA200 (8,600) which is close to the 0.5 FIB level; a break above this resistance level (9,000) is a positive sign that it could restart the price upwards towards the downtrend line at 10,480, finding a first resistance area at 9,600. On the other hand, if buyers are...

cryptototrade_official

As expected from the previous analysis, the price breaks the neckline of the bearish figure head & shoulders and in the last hours reaches its target at 8,800. Short-term sentiment has become bearish with a downward bias of the 20-year moving average and a negative momentum. If prices don't find support at these levels we could see a further collapse to 8,200, and...