As suggested in previous post, the price of Bitcoin surpassed $45,000 and now is testing this level as support. This daily chart shows how this level is marked by the 50 Exponential Moving Average indicator. The 50 EMA is above the 200 EMA indicating the classic Golden Cross, which gives us a bullish outlook. At … Read more
The trendlines on BTCUSD Daily chart show that the price is being squeezed by the buyers and sellers. A confirmed break from these lines of confluence can indicate a longer trend for Bitcoin. Coupled with earlier analysis of head-and-shoulders pattern, one could assume that BTCUSD will succumb to bearish pressure and go lower. There are … Read more
Looking at the BTCUSD Daily chart we can see that there is a head-and-shoulders pattern developing which could be a sign off an impending sell off. Head and shoulder pattern with a crossed neckline is usually a strong indication of a trend reversal that can last weeks or months. Currently the price is still above … Read more
Bitcoin is very volatile, there is no question about it. If you’ve been following the rise of this cryptocurrency carefully since it’s beginning, you’ve seen corrections of more than 50%. Looking at the Daily Bitstamp chart of Bitcoin, we can see that in the last 4 days of trading BTCUSD has suffered some losses. From … Read more