Bitcoin is still trading within the lower range between its major support and resistance levels between $30,000 and $40,000. This range is marked by the thick blue lines on the chart. As mentioned in earlier analysis, this looks like an accumulation range. It is that price area where many institutions entered the market, being somewhat … Read more
These last couple of days have been quite bearish for BTC/USD. Many analysts have been extremely outspoken about the death cross (situation when 50 Moving Average crosses below the 200 Moving Average) Apparently for some chart analysts this has already happened, yet here when we use Exponential Moving Averages (which officially should be used) we … Read more
Bitcoin is gaining bullish momentum and reaching the 200 Moving Average on a Daily chart, represented by the black line in the image. This is a very important level which might be hard to break and a rejection and move to the downside can be expected. On the other hand, if the daily candle closes … Read more