Category: bitcoin technical analysis

Bitcoin displays strong technicals for new record high as futures open interest hit $13 billion

Bitcoin retests $40,000 after recovery almost 30% in two days. Bitcoin open interest increases 74% from the previous month, suggesting high investor optimism. Bitcoin has brushed shoulders with $40,000 again following the early week breakdown to $30,000. The pioneer cryptocurrency has presented a strong bullish front in the last couple of days by first, holding […]

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Bitcoin price on the final stretch to $40,000 but these are the levels to watch

Bitcoin nurtures recovery eyeing $40,000 after overcoming resistance at $36,000. BTC/USD must close the day above the 61.8% Fibonacci to complete the leg up to $40,000. Bitcoin rebounded after confirming support at $30,000. On the upside, the largest cryptocurrency movement was limited to $36,000. The mid-week trading saw BTC retest support at $32,000 but buyers […]

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Bitcoin price risks revisiting $30,000 while Goldman Sachs reckons that BTC has matured as an asset

Bitcoin bulls focus on avoiding declines to $30,000 by holding above the 100 SMA and $33,000. Bitcoin is becoming more mature as an asset but needs institutional backing to stabilize. Bitcoin is fighting to hold above the $33,000 but overhead pressure continues to make this task a difficult one for the bulls. The largest cryptocurrency […]

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Bitcoin price in dilemma at crucial pivotal level; will it be $42,500 or $32,500?

Bitcoin closes the week under $40,000, opening the Pandora box for a possible slide to $32,500. Closing the day above the ascending channel’s upper boundary may invalidate the breakdown but favor a recovery above $40,000. Bitcoin almost brushed shoulders with $42,500 last week but stalled, allowing for a retreat under $40,000. However, Bitcoin managed to […]

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Bitcoin price pulls back from $40,000 but speculators see it at $50,000 in the near-term

Bitcoin price rejected from the historical record at $40,000 but short term support expected at $37,500. Speculators believe that BTC has a long way to go, placing their short term goal at $50,000. Bitcoin hit $40,000 for the first time in history but this was not a surprise to many. The flagship cryptocurrency has been […]

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Bitcoin price imminent leap to $40,000 awaits breakout at this key level

Bitcoin bulls nurture the uptrend towards the much-anticipated run-up to $40,000. BTC/USD immediate upside is capped by the ascending parallel channel’s upper boundary resistance. Bitcoin is on the verge of the ultimate breakout to $40,000. The push to rally to this new all-time high comes after the flagship cryptocurrency pierced through the resistance at $35,000 […]

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Bitcoin price poised for an 11% dump to $30,000 before the rally to new all-time high resumes

Bitcoin price faces a growing bearish grip after failing to settle above the immediate resistance at $34,000. The bellwether cryptocurrency is on the verge of a breakdown to $30,000, mostly if the immediate support at $32,000 caves. Bitcoin has managed to recover from the recent 20% dump from the new all-time high at $34,807 to […]

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Bitcoin end-year rally takes a hiatus under $24,000 but the journey to $30,000 just started

Bitcoin hits a wall under $24,000 but confirms support slightly above $22,000. The bullish outlook has been validated by a golden cross pattern on the 4-hour chart. Bitcoin continued with the remarkable uptrend on Thursday to new all-time highs. As reported, the flagship cryptocurrency is currently in price discovery and could rise to any level […]

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Bitcoin Majestically Enters Price Discovery Above $20,000 As The Moon Beckons

Bitcoin’s least resistance path is upwards as the IOMAP reveals the absence of known resistance. BTC rally hits a new all-time high marginally under $22,000 but the bullish momentum is still intact. Bitcoin finally broke the psychological resistance at $20,000, catapulting itself to new all-time highs. The flagship cryptocurrency seems to have jumpstarted the crypto […]

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Bitcoin price makes the final approach to a new yearly high as investors anticipate another rally

Bitcoin bounced off support at $17,500 and lifted towards $20,000 but hit a snag at $19,438. On-chain metrics suggest that Bitcoin is ready for gains above $20,000 while its downside is well protected. Bitcoin recently tested support at $17,500, almost hitting the target as we had predicted. The freefall appears to have allowed more investors […]

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