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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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’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 […]