Bitcoin Price Broaches New Weekly High But Slips into Bearish Correction

Twitter Facebook LinkedIn On Monday, bitcoin underwent a bearish correction after establishing a new weekly high at 6440-fiat, falling close to 0.8 percent. Bitcoin Hits Weekly High The BTC/USD pair is trading in a bull trend above the 200-period simple moving average on hourly charts. The big move yesterday seems to have appeared more because of Tether, whose USDT token lost its dollar-peg once again, and its holders started jumping towards other coins. Prior to that, the BTC/USD pair was already pursuing a stable uptrend on near-term charts, albeit with…

Bitcoin Price Analysis: Weekly Consolidation Hints Toward Sustained …

Another week has passed as bitcoin continues to coil in a tighter and tighter consolidation. Both price and volume continue to consolidate as bitcoin decides where the next major move will be. A trend of higher lows and lower highs shows a balance of both supply and demand, but ultimately one will win out: Figure 1: BTC-USD, Daily Candles, Macro Consolidation To gain a perspective of *just* how tightly wound the market is, a great tool analysts often use are Bollinger Bands (bbands). Bbands are a visual representation of forecasted…

Bitcoin Price Weekly Analysis: BTC/USD Above $6,500 Could Accelerate Gains

Key Points Bitcoin price declined recently and tested the $6,350 support level against the US Dollar. There was a break above a connecting bearish trend line with resistance at $6,410 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is facing a solid resistance near the $6,480 and $6,500 levels. Bitcoin price is consolidating above the $6,350 support against the US Dollar. BTC/USD must break the $6,500 resistance zone to move into a bullish zone. Bitcoin Price Analysis There were more than three attempts to…

Ethereum Price Weekly Analysis: ETH/USD Near Make-or-Break Levels

Key Highlights ETH price declined recently below the $200 level before buyers emerged near $196 against the US Dollar. There is a major bullish trend line with support at $201 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair must clear the $207 hurdle and the 100 simple moving average (4-hours) to gain momentum. Ethereum price is trading near crucial levels versus the US Dollar and Bitcoin. ETH/USD must surpass the $207 and $214 levels to gain upside momentum. Ethereum Price Analysis This past week, there was…

Bitcoin Cash Price Weekly Analysis: BCH/USD Primed for More Upsides

Key Points Bitcoin cash price declined sharply, but it found support near the $420 level against the US Dollar. There was a break above a major bearish trend line with resistance at $435 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair may well continue to move higher once there is a break above the $450 resistance. Bitcoin cash price is placed well above the $420 support against the US Dollar. BCH/USD could accelerate above the $450 and $460 resistances in the near term. Bitcoin…

Bitcoin Price Weekly Analysis: BTC/USD Buyers Losing Momentum Above $6,600

Key Points Bitcoin price formed a decent support near the $6,400 level against the US Dollar. There was a break above a major bearish trend line with resistance at $6,540 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is struggling to gain momentum above the $6,600 and $6,650 resistance levels. Bitcoin price is trading with a positive bias above $6,400 against the US Dollar. BTC/USD must break the $6,650 resistance to gain upside momentum. Bitcoin Price Analysis This past week, bitcoin price found a…

Ethereum Price Weekly Analysis: ETH/USD Remains in Broad Range

Key Highlights ETH price is currently trading in a broad range above the $210 support against the US Dollar. There is an ascending channel formed with support at $222 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may decline in the short term towards the $214 and $210 support levels. Ethereum price is consolidating versus the US Dollar and Bitcoin. ETH/USD is at a risk of a minor downside correction towards the $214 support level. Ethereum Price Analysis This past week, there were mostly range moves…

Bitcoin Price Weekly Analysis: BTC/USD Remains in Uptrend Above $6,400

Key Points Bitcoin price failed to break the $6,800 resistance recently and declined against the US Dollar. There is a major bullish trend line in place with support at $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $6,400 and $6,380 support levels to remain in a positive zone. Bitcoin price is holding key supports against the US Dollar. BTC/USD could move higher once again as long as it is above the $6,400 support. Bitcoin Price Analysis This past week,…

Bitcoin Cash Price Weekly Analysis: BCH/USD Sighting Further Upsides

Key Points Bitcoin cash price gained traction and moved above the $500 barrier against the US Dollar. There is a key contracting triangle in place with support near $510 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to break higher towards the $575 and $600 levels in the near term. Bitcoin cash price is trading in a bullish zone above $500 against the US Dollar. BCH/USD may continue to find buyers on the downside near $500 and $480. Bitcoin Cash Price Decline…

Bitcoin Price Watch: BTC/USD Targets New Weekly High

Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate towards $6,840. Bitcoin price is gaining traction above $6,640 against the US Dollar. BTC/USD is likely to move further higher towards $6,840 and $6,880 if buyers remain in action. Bitcoin Price Analysis After a brief…