• Bitcoin is breaking out of a long bearish zone – the six-month channel boundary. • $7600-$8000 support provides a rebound for Bitcoin. • A retracement move is likely if the price drops below $8500 After finding support at $7600 last week, Bitcoin has further mounted key support at $8000 -which now fuels the current […]
News coming from a crypto market research company, Arcane Research, remarks that Bitcoin’s trading volume has more than doubled in the past week. Based on the publication, Bitcoin’s 7-day average trading volume has increased by 125% just in the first week of 2020, with about $1.5 billion in trades recorded on the 8th of January […]
Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Bullish On January 10, after the bulls’ failure to break the resistance at $8,200, Bitcoin decides to fluctuate below the resistance. The coin fluctuates in a tight range of $8,000 and $8,200. The upward move has been temporarily […]
• Bitcoin is in the middle of a consolidation circle. • Sellers may gain control if $8000 breakdown. On January 8, Bitcoin’s price hits $8400 after recording a six-day price increase. The market saw a small drop to $7800 before bouncing back to where BTC is now priced at $8000. However, the entire market cap […]
Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Bullish In the last 48 hours, the bulls have shown strength as they continue to sustain prices in the bullish trend zone. On January 10, Bitcoin made a retest at $8,200 and pulled back. The coin now fluctuates […]
Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Bullish Yesterday, the bulls made an impressive move as the bulls reach a high of $8,400. The coin was resisted and the price retraced to a low of $7,800. The support is holding which was previously a resistance […]
• A break above the daily channel pattern would confirm a bullish trend. • Bitcoin holds key support at $7400. • Short-term sellers regain control of the market after $8000 break. Bitcoin has continued to remain trapped in a bearish zone, following the January 8 rejection at the descending channel that is forming on the […]
Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Bullish Interestingly, the bulls broke the resistance levels of $7,600 and $7,800. In the previous analysis, we had anticipated that Bitcoin may rise to a high of $9,200 if the overhead resistance was broken. The price action has […]
• Bitcoin’s price rejects at $8400 after a short-term bullish rally. • $7600 support may provide a rebound for Bitcoin if $7800 fails • Bitcoin loses +5.36% following last 24-hours selling The $8400 resistance has rejected short-term buyer but it appeared the bullish trend is still valid on the 4-hours chart as Bitcoin relies on […]
