Last week we predicted that Bitcoin would test the $60k strong resistance zone, and if it failed to break/hold above this – it would retrace and test support levels closer to $50k. This seems to be exactly what played out and what continues to play out on the charts this week! Let’s take a look and see how our predictions/analysis worked, and see if we can continue to decipher the trends. BTC/USD 4H Chart from Tradingview As you can see, …
Tag: BTC
It’s been a few weeks since our last Bitcoin Analysis piece, but we are back and ready to dive back in! Bitcoin has been up to a lot since our last article, which was published in early December when Bitcoin was still trading under $20k. We had predicted in the past that a price target for Bitcoin this cycle was around the $50k mark – and we were correct! Bitcoin has fluctuated around this price point, and seems poised to …
Hello Midas Community! We will continue with our analysis of Bitcoin price movements, as it greatly affects the altcoin markets. In this series of TA, we will conduct some TA, and look at overall trends and fundamentals. Let’s get started! Price Analysis Here we see the macro price movements of Bitcoin vs USD on a 4H timeframe. Ever since the large decline in mid-March, Bitcoin rose steadily before beginning a consolidation pattern between 9-10k. If we take a closer (zoomed …
Greetings Midas Community, As always, we are keeping our eyes on the price movements of Bitcoin. Since the inception of cryptocurrency, the crypto market moves as Bitcoin moves. In these articles we will make weekly technical analysis, looking at trends and fundamentals. Here we see Bitcoin’s price action on a large-scale 4H time frame. Since the big drop in mid-March, Bitcoin has been steadily rising against USD. Until recently, the blue trendline was quite strong, and had been tested multiple …