Bitcoin Price Analysis

BTC/USD Daily 1 Despite BTC/USD’s drop below $6.5K earlier this week, price continues to oscillate within a bullish market structure, defined by the descending channel. Having found support on the channel's lower bounds at $6.4K, a relief bounce of 15% to $7.4K followed. At the moment, BTC/USD sits above a key pivot zone, which served as a support level in the bear market. This range lies between $6.1 and $6.8K and should act as a strong demand area, especially considering…

On the 12th of December 2019, Bitcoin’s price rose to over 10%. However, it is signaling a powerful reversal, but BTC needs to keep surging to over $ 7500 for the beginning of a giant rally. Bitcoin price moved from $ 6600 to $ 6500 and recorded a decline of $ 100. There was the formation of a fresh low in the month close to $ 6435, prior to a powerful reversal. The BTC price eventually moved close to $…

Bitcoin price is predicting selling continuation under $ 6800. This mainstream cryptocurrency may be focusing on getting support at the value of $ 6500 or $ 6200. When Bitcoin support was at $ 7000, the sellers gained some momentum. Therefore, the BTC price declined to below the support at $ 7000 and created a level under the 100 hourly SMA. The price decreased by almost 4 % and was able to break the support zone at $ 6880. Hence, the…

Currently, the BTC/USD pair is trying to overcome the hurdle of $7200. Additionally, the dominant coin is not safe from a drop under the $7000 support level. Not long ago, the BTC/USD’s price dropped to under the support zone of $7080. Furthermore, the price gave way for a level below $7200 and the 100 hourly SMA. Its support got visited at $7000, creating a new low in the month at $7008. Currently, Bitcoin is in consideration of losing its control…

After a long period of trading sideways close to around $ 7,200, BTC's bears regained control of the cryptocurrency and sent it to a significant support level. So far, the BTC bulls have maintained this level, but it is unclear whether it will continue as the weekend progresses. Based on the analysis, the BTC support level at the moment is Bitcoin's "pivotal level," and the manner of Reaction to this level may establish its Direction for the first part of…

Bitcoin’s recent selloff has been dragging on for five months, reaching just over a 50% correction. A simple explanation lies in supply and demand mechanics: since there was more Bitcoin supply to the marketplace than demand for it, the price fell. But this would only paint half the picture. In addition to a technical explanation, it is important to identify fundamental drivers of price and how they affect the market’s macro narrative. One surface reason is China’s publicity war on…