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 […]
Bitcoin likely always in short and towards $50000
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 […]
Bitcoin losing the $60000 after a 200-day MA break
Market Overview: Bitcoin In last week’s analysis, we focused on the broader perspective offered by longer timeframe charts of Bitcoin. This week, the market triggered a low 2 signal on the monthly chart, indicating a potential shift in sentiment. On the weekly chart, it appears that bulls have relinquished the idea of buying within the […]
Bitcoin Q2 2024: a Bearish Halving
Market Overview: Bitcoin The start of 2024 marked a pivotal moment for Bitcoin, as the long-awaited approval of the Bitcoin ETF opened the doors for a significant influx of institutional investment. This new source of demand coincided with the Bitcoin halving event in Q2, traditionally viewed as a bullish catalyst. However, as we highlighted in […]
Bitcoin bear follow through after double top and pointing towards $60000
Market overview In this week’s Bitcoin report, we delve into the evolving market dynamics as Bitcoin navigates a critical juncture. The weekly chart showcases a potential shift in short-term momentum, as bearish signals emerge amidst a broader bullish structure. We maintain a cautious outlook for the coming weeks, anticipating sideways to downward trading unless a […]
Bitcoin potential short-term break down shift from $70000
Market Overview: Bitcoin Bitcoin‘s price action is at a pivotal point, as the weekly chart reveals a potential shift in short-term momentum. This week’s bearish candlestick suggests that bears might be gaining influence, posing a challenge to the bulls. The market is now at a crucial juncture, with the resolution of this consolidation phase likely […]
Bitcoin breakout mode pattern on the daily chart
Market Overview: Bitcoin Bitcoin price action is at a crossroads, with both weekly and daily charts revealing intriguing patterns that hint at potential volatility ahead. The weekly chart showcases a market in a period of consolidation, following a strong bullish trend. A bull flag pattern has emerged, suggesting a potential continuation of the uptrend. However, […]
Bitcoin monthly bulls limiting downside risk
Market Overview: Bitcoin Bitcoin‘s May bullish candle, emerging after April’s retracement, reaffirms the resilience of the upward trend despite earlier failures to surpass all-time highs. However, the long upper wick of the May candle reveals a rejection of higher prices near the March close, suggesting a potential struggle for bulls to maintain control at elevated […]
Bitcoin insists on continuing the trend by testing $70000
Market Overview: Bitcoin Bitcoin’s weekly chart hints at a potential resumption of the bullish trend, a critical question emerges: What hurdles must the bulls overcome to maintain their momentum? Conversely, how can the bears seize control and reverse the tide? Our analysis delves into these questions, examining the intricate dance between buyers and sellers. On […]
Bitcoin Bulls bought prior bear’s weekly close around 60k
Market Overview: Bitcoin Bitcoin bull reversal within a limit order market. This week, we explore the intricacies of the limit order market structure that continues to dominate Bitcoin’s weekly price action and understand why this week’s bullish trend bar aligns with this pattern and what it means for traders. Bitcoin The Weekly chart of Bitcoin […]