Market Overview: Bitcoin Friday’s closing price of Bitcoin Spot on Coinbase Exchange: $96,537. On the weekly chart, Bitcoin has formed a Breakout Mode Pattern (BOM), following a strong bullish breakout from an 8-month Trading Range that had developed over the past year. On the daily chart, a BOM pattern that formed at the top of […]
Bitcoin January Outside Bar reclaim $100,000
Market Overview: Bitcoin As January concludes, Bitcoin showcases impressive resilience, closing nearly 10% above December’s mark. Such a surge invites a deeper examination of Bitcoin’s price action across multiple timeframes, offering insights into prevailing risk management, trends, potential breakouts, and key support and resistance levels. Bitcoin The Monthly chart of Bitcoin The monthly chart reveals […]
Bitcoin hits fresh all-time high near $110,000
Market Overview: Bitcoin Bitcoin has established a new all-time high; however, the momentum has decreased, signaling potential market hesitation. Historically, a loss of momentum at such critical levels does not often precede strong bull breakouts, which suggests that traders should be cautious about expecting further upside without increased buying pressure. Key price levels are $120,000 […]
Bitcoin outside-outside regain the $100,000
Market Overview: Bitcoin Last week, we projected that the coming days or weeks would see Bitcoin testing December’s low. December, marked by a sell signal bar on the monthly chart, suggested a likely revisit to levels below December’s low, which happened during the week. End-of-2024 edition report. Bitcoin The Weekly chart of Bitcoin In our […]
Bitcoin potential market top
Market Overview: Bitcoin This week, Bitcoin traded slightly below December’s low, triggering the monthly bear signal discussed in the previous report. It is likely that the price will test below December’s low again during January, within the next 0–3 weeks. Both the weekly and daily charts present intriguing patterns worth dissecting.If you missed our special […]
Bitcoin December’s bear reversal at $100,000
Market Overview: Bitcoin December closed with a bear reversal bar candlestick, marking the end of a pivotal year and opening a fresh chapter in Bitcoin’s journey. In our November analysis, we anticipated Bitcoin gravitating around the $100,000 level, which is currently a critical resistance level. In our special edition of December’s report, we discussed how […]
Bitcoin 2024: the year of institutional adoption
Special end-of-year edition Welcome to this special end-of-year edition of our weekly price action Bitcoin report. As always, we’ll be diving into the charts to analyze the latest market movements and uncover actionable insights for price action traders. However, before we jump into the technical analysis, I wanted to take a moment to share some […]
Bitcoin Major Wedge Top on Daily Chart fall below $100,000
Market Overview: Bitcoin This week, Bitcoin reached a new all-time high of approximately $108,000 on Tuesday. Following the FOMC meeting, a sharp decline ensued, with the price dropping about $10,000 and visiting the previous week’s low. The 5-week bull micro channel ended with an outside down bar, suggesting a potential market transition. Despite this volatility, […]
Bitcoin head and shoulders top at the major resistance of $100,000
Market Overview: Bitcoin This week, Bitcoin has kept trading around and above the $100,000 mark, the major resistance. This price level acts as a magnet, drawing attention as the major battleground for traders. With December marking the final month of the year, Bitcoin has already achieved an extraordinary 135% gain from its 2023 close—a testament […]
Bitcoin testing the $100,000 magnet
Market Overview: Bitcoin Last week, we analyzed Bitcoin‘s November close, which settled below the significant $100,000 level. This week, history was made as Bitcoin surpassed $100,000 for the first time on Thursday, December 5th. The $100,000 mark acted as a strong magnet for price action throughout the week, demonstrating its psychological and technical importance. With […]
