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 […]
Bitcoin strong bear reversal bar after 2022 High
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 […]