Market Overview: Bitcoin Bitcoin extended sideways action, following a climactic surge, has left both bulls and bears on edge. The weekly chart hints at a potential change in momentum after a bullish run. Meanwhile, the daily chart reveals a tense standoff, with bears gaining an early advantage by creating a Major Trend Reversal setup. Could […]
Bitcoin sideways between $60k & $70k
Market Overview: Bitcoin Bitcoin finds itself at a pivotal juncture. The prolonged bullish momentum that propelled prices to record highs is showing signs of waning. While the long-term outlook remains favorable, the coming days and weeks could see a shift in market dynamics. Recent price action reveals a climactic surge followed by consolidation, with buyers […]
Bitcoin Q1 2024 rise: from a bear market to an all-time high
Market Overview: Bitcoin Bitcoin experienced a significant surge in February, demonstrating a strong bullish breakout on the monthly chart. However, this price movement remained within a previously established range. March brought even more excitement, with Bitcoin reaching a new all-time high of $73,835. The month’s candlestick looks set to close above 2021’s peak. While this […]
Bitcoin end of the 7-week bull micro channel
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 […]