Market Overview: Bitcoin Bitcoin faces a potential trend reversal after failing to sustain momentum above its previous all-time high. This week’s price action dipped below the prior low, snapping a seven-week winning streak on the weekly chart. Our previous analysis anticipated aggressive bears selling a doji bar after a buy vacuum test of resistance, and […]
Bitcoin stalls around $70000 after a buy vacuum test of the all-time high
Market Overview: Bitcoin The Bitcoin weekly chart shows a late-stage bull breakout, which raises concerns about a potential trend shift, either to sideways trading or a reversal. Bears might short here, while bulls are cautious. The daily chart action paints a different picture. Stuck in a bull channel without a clear Always In signal, short-term […]
Bitcoin hitting a new all-time high and $70000
Market Overview: Bitcoin Following up on our previous report’s prediction, Bitcoin has indeed climbed towards a magnetic pull – the all-time high. This week not only saw the price reach that target, but it surged past to a brand-new record of $70,199. This marks the first time Bitcoin has arrived at the significant big round […]
Bitcoin at 60k after an impressive bull run
Market Overview: Bitcoin Welcome back to the Bitcoin Report. In our last report, we cautiously eyed January’s big doji as a potential double top, raising concerns about a price reversal. However, February defied expectations with a powerful bull breakout bar, propelling the price from $40,000 to a staggering $60,000 – a remarkable +40% surge. Now, […]
Bitcoin at the Top of a Bull Channel holding above $50000
Market Overview: Bitcoin Bitcoin started the week on a high note, the previous week’s candlestick closing as a strong bull bar. This fueled expectations for a retest of the prior week’s high, but the current weekly bar paints a different picture. It’s shaping up as a bearish reversal, suggesting bulls are losing steam as the […]
Bitcoin Biggest Bull Bars late in Bull Trend above 50k
Market Overview: Bitcoin Bitcoin is trading above the significant psychological level of 50,000 Big Round Number (BRN) for the first time since 2021. Examining the weekly chart, we observe a consistent uptrend in price action, however, as Bitcoin continues its ascent, questions arise regarding the sustainability of this Bull Trend. Will the current bullish momentum […]
Bitcoin big bull breakout but still BOM at resistance
Market Overview: Bitcoin In previous editions of the Bitcoin Weekly Report, we anticipated the possibility of another leg down in the market. However, this week we might have seen a significant shift in dynamics with the emergence of a strong Bull Breakout Bar. Presently, the price appears to be within a small Expanding Triangle on […]
Bitcoin Double Top with 2022 High on the Monthly Chart
Market Overview: Bitcoin Throughout the week, there was the closure of the Bitcoin Monthly candlestick, a pivotal event for market participants. Institutions traditionally regard the month of January as a barometer for gauging market trends and sentiment for the remainder of the year. The price action witnessed a shift as Bitcoin closed below the December […]
Bitcoin expect another leg down towards 50% pullback
Market Overview: Bitcoin Next Wednesday marks the close of Bitcoin’s Monthly Bar, a crucial event for market observers. January holds significance among institutions, often serving as a barometer for the year ahead. Presently, Bitcoin exhibits a large doji bar on the monthly chart, characterized by its open positioned below the midpoint. Looking ahead, traders anticipate […]
Bitcoin Doji as a Follow Through Bar of a Bear Reversal Bar
Market Overview: Bitcoin In the past week, a noticeable Bear Signal sent ripples through the Bitcoin market, raising questions about the potential shift in sentiment. The follow-through bar, observed at the time of this report, takes the form of a doji bar, managing to close above the prior weekly lows. Traders are now closely monitoring […]