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 […]
Bitcoin The Bull Breakout of November 2024
Market Overview: Bitcoin As November comes to a close, Bitcoin has delivered an extraordinary month, with Bitcoin breaking out of a six-month trading range. This month, Bitcoin surged approximately 40% from October’s close, nearing the $100,000. For traders, $100,000 is not merely a psychological level but a key reference point for taking profits, hedging, or structuring […]
Bitcoin Reaches $100,000: A Historic Milestone
Market Overview: Bitcoin Bitcoin reaching the $100,000 mark is a groundbreaking milestone, a testament to the crypto asset’s transformative influence on the financial landscape. This psychologically significant level may attract profit-taking activity and expect resistance to continue higher. However, we’ve witnessed a scenario in 2017 where Bitcoin broke above the awaited $10,000 mark without resistance […]
Bitcoin the latest bull run towards $100000
Market Overview: Bitcoin Bitcoin continues to captivate markets, breaking out of a prolonged six-month trading range. This upward movement trades uncharted territories on the upside, leaving prior downside levels increasingly unlikely to be revisited. Historically, Bitcoin has experienced near 80% drops, suggesting that if the price reaches the $100,000 milestone—a plausible event—it may never fall […]
Bitcoin hits new all-time high of $77300
Market Overview: Bitcoin This week, Bitcoin hit a new all-time high, surpassing the previous peak set on March 14, 2024, after trading below it for several months. Since then, a test of this high has been anticipated, fueled by the strong bull breakout that began early in 2024. Our reports have consistently emphasized the likelihood […]
Bitcoin October bar traded near all-time high
Market Overview: Bitcoin This week, the October monthly bar closed with a bull bar that nearly reached Bitcoin’s previous all-time high. The monthly close, positioned above September’s high, suggests that November or December may bring a renewed attempt to test October’s high. Reflecting on the year so far, Bitcoin has largely moved within a trading […]
