Market Overview: Bitcoin The Bitcoin price ascended to meet the 2022 High price magnet, trading upward as expected. However, the narrative took a sharp turn thereafter, with a formidable reversal that saw the price plummet by over $7500. This week’s weekly bar is a Bear Reversal bar, prompting the pivotal question: Has the market initiated […]
Bitcoin towards $50000 because Strong Magnet
Market Overview: Bitcoin Bitcoin is trading upwards towards a strong magnet. In this week’s, we observed a notable shift as prices surged above the 2023 high, only to experience an immediate sell-off. The subsequent dip resulted in trading below the prior weekly low, marking the end of a series of consecutive weekly higher lows, signaling […]
Bitcoin 2023’s Powerful Bull Run
Bitcoin’s Market Overview: Bitcoin surged over 150% in 2023, marked by a Bull Run with a notable 5-month pause. The price nearly erased the impact of the 2022 bear breakout. Throughout the year, anticipation focused on the potential approval of a Bitcoin ETF. As 2024 approaches, all eyes are on the Bitcoin Halving, historically a […]
Bitcoin 11-week huge bull micro channel
Market Overview: Bitcoin Futures Bitcoin continues the bull micro channel by avoiding, per 11th consecutive week, trading below the prior weekly low. This upcoming week, is the last trading week of 2023; So far, the price of a Bitcoin increased its value by +160% respecting 2022’s close. Hence, the next weekly close will settle a […]
Bitcoin 2nd inside bar of a solid 10-week bull micro channel
Market Overview: Bitcoin Futures Bitcoin 2nd inside bar of a 10-week Bull Micro Channel. Last week, we have said that the price was likely to test this week’s low instead of continuing to trend up higher, and this is what happened. This sell-off was provoked by Bulls taking profits, since there is not any topping […]
Bitcoin risky big bull bar late in a Bull Breakout testing 45k
Market Overview: Bitcoin Futures Bitcoin achieved a big bull bar late in a Bull Breakout. The price rallied 17.60% respecting the past week’s close. However, this surprising Bull Breakout occurs after many bars into a Bull Micro Channel, which is often an exhaustive move, meaning that it is more likely to trade lower towards $40000 […]
Bitcoin Cup and Handle and Good Bull Follow Through around 40k
Market Overview: Bitcoin Futures Bitcoin’s monthly chart: The price created a good follow through bull bar in November, after the Buy Signal Bar of October, that was Breaking Up a Tight Trading Range. During November, the price increased its value by 9.40% respecting the past month’s close. Now, after the Cup and Handle Bull Breakout and […]
Bitcoin 7-week Bull Micro Channel at Measured Move
Market Overview: Bitcoin Futures Bitcoin futures 7-week Bull Micro Channel at Measured Move. The price concluded another week with a low above the prior low, a 7-week streak. By the end of the upcoming week, there will also be the monthly close. Traders expect a test of $37000 during the week, which is the middle […]
Bitcoin caution right below 40000 Sell Zone
Market Overview: Bitcoin Futures Bitcoin right below 40000’s sell zone. During the week the price decreased it is value but still, it closed above the mid-point of the weekly range. The prior 3-week’s low are all nearby, trading below that might change the inertia in favor of the bears. Moreover, the price is near a […]
Bitcoin Direct Towards Rectangle’s Measured Move and $40000
Market Overview: Bitcoin Futures Bitcoin futures are Trading towards a Rectangle Measured Move and $40000. This week, the price closed higher 7.80% respecting the past week’s low. The Bull Breakout is evident, there are magnets close above that are probably going to be reached. Bitcoin futures The Weekly chart of Bitcoin futures Past: Support and […]