Market Overview: Bitcoin This week, Bitcoin reversed upwards, forming a breakout mode pattern on the weekly chart. This development has been anticipated for weeks, as the price had over 20 bars of sideways movement. From this balanced setup, a new trend will likely emerge, and multiple scenarios can play out. This analysis will explore those […]

Market Overview: Bitcoin Last week, Bitcoin closed near its low, forming a bear signal bar within a narrow trading range on the weekly chart. However, this signal is not ideal due to the tight nature of the range. Currently, the price has entered the $55,000 zone, a buy zone for traders who believe the market […]

Market Overview: Bitcoin August has seen a dynamic start for Bitcoin, marked by a sharp sell climax that tested the significant $50,000 level, a key barrier. From this point, Bitcoin attempted a robust reversal towards July’s close, but the recovery was hindered by trapped bulls contributing to selling pressure. The initial buying surge during the […]

Market Overview: Bitcoin Bitcoin: a potential bull swing could be in play, yet the likelihood of bull follow-through next week is not likely. On the daily chart, recent bullish setups suggest a cautious approach; while a bull breakout is possible, traders should be prepared for a pullback. A key level to watch is $63,400 since […]

Market Overview: Bitcoin Bitcoin’s recent weekly chart unveils a market entrenched in a trading range, marked by notable bullish resilience. At Monday’s close, bears appeared poised to establish an EMA gap bar, signaling potential downward momentum. However, bulls thwarted this move once again, indicating that a definitive major top has yet to materialize. This persistent […]

Market Overview: Bitcoin Bitcoin exhibited exhibited considerable volatility on July, yet it failed to deliver decisive results for either bulls or bears. The repeated rejection of the $70,000 resistance implies that sideways to downward movement is likely in the coming months. The interplay between the $70,000 resistance and $50,000 support will likely define the medium-term […]

Market Overview The setup for Bitcoin is poised to be pivotal as we approach the close of the monthly candlestick next week. Should the bulls manage to secure a close near the monthly highs, we will see the formation of a “failed low 2” setup alongside a “high 2 setup.” This scenario is particularly noteworthy, […]

Market Overview: Bitcoin Bitcoin‘s last week’s analysis, highlighted the potential for a major top formation as the market entered an “always in short” market, coupled with the appearance of the first weekly EMA gap after a robust bull trend. However, the market defied expectations, closing the week without a gap, suggesting either a resurgence of […]

Market Overview: Bitcoin Bitcoin‘s price action presents an interesting landscape, where some traders perceive a potential long-term top on the weekly chart and favor an “always in short” strategy in the near term. A retest of the $50,000 support level is still more likely before another challenge to the $70,000 double top. This dynamic environment […]