Bitcoin [BTC] Price Analysis: Coin falls as bulls withdraw from coin market

The largest cryptocurrency in the market, Bitcoin [BTC], saw the bull make an entry and lift the coin’s prices.
However, this was a short-lived trend as the coin fell in the past hour, at the time of writing. The token was valued at $4,017.70, with a market cap of $70.69 billion. The token noted a 24-hour trading volume of $8.5 billion, while it was falling by 0.72% within the past hour. BTC noted a meager growth 0.06% over the past day and by 1.93% over the past week. However, the coin did manage to maintain its price above 4k.
1-hour
Source: Trading view
The one-hour chart for BTC indicated an uptrend from $3,850 to $4,013.02, after which the price of the coin started to decline. The downtrend extended from $4,013.01 to $3,977.77. The largest token drew resistance at $4,013.02. However, due to the falling price, the token failed to mark definitive support.
Bollinger Bands pointed towards a bearish market as the moving average line was above the candlesticks. The bands appeared to have diverged, suggesting increased volatility in the market.
Awesome Oscillator marked a weakened bearish trend.
Chaikin Money Flow indicated a bearish market for the coin as the marker was under the zero mark.
1-day
Source: Trading view
According to the token’s one-day chart, a massive downtrend was observed from $7,359.99 to $3,990, followed by an uptrend from $3,184.28 to $3,846.79. The token traced resistance at $4,110 and support at $3,344.
Parabolic SAR pointed towards a bearish market as the markers were above the candlesticks.
MACD line was above the signal line after a crossover. However, the lines appeared close to each other, indicating another crossover soon.
Relative Strength Index indicated that the buying and the selling pressures had evened each other out. However, the indicator was closer to the overbought zone.
Conclusion 
According to a majority of the indicators like Bollinger Bands, Awesome Oscillator, Chaikin Money Flow, and Parabolic SAR, a bearish trend was forecast for the coin.
The post Bitcoin [BTC] Price Analysis: Coin falls as bulls withdraw from coin market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark

Bitcoin reclaimed the $4,000 level in a show of great market sentiment as it was a resistance level the coin hadn’t crossed in over two months.
Bitcoin’s price, at press time, was $4,004, with a market cap of $71 billion. The coin’s 24-hour trading volume also surged due to the recent pump, hitting $10 billion. Most of the trading volume for Bitcoin came from BitMEX exchange, which contributed to a whopping $1.47 billion in trading volume.
1-hour
Source: TradingView
The one-hour chart indicated bullish momentum for Bitcoin as the downtrend inclination suddenly changed due to the rally. The downtrend extended from $4,163 to $4.013, while the resistance at $3,953 was tested during the rally.
The Parabolic SAR markers formed below the price candles and indicated a bullish presence in Bitcoin’s one-hour chart.
The MACD indicator underwent a bullish crossover, reaching the 30-line.
The RSI struck the oversold zone, and was heading down towards the 70-line. This indicated a shift in momentum for Bitcoin.
1-day

Source: TradingView
The one-day chart showed a downtrend that extended from $9,800 to $4,000. The support line at $3,122 was holding well, but the resistance at $4,111 was about to be tested. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a strong uptrend for Bitcoin, while the downtrend line was headed to the bottom. This indicated a change in trend in the longer timeframe.
The Stochastic indicator also showed a strong bullish crossover heading towards the oversold zone.
The Chaikin Money Flow tool was above the zero-line and indicated a massive money influx into the Bitcoin markets.
Conclusion
The one-hour chart showed heavy bullish momentum for Bitcoin, as indicated by the SAR and the MACD indicator. However, the RSI indicated a slight decrease in bullish momentum. The one-day chart for Bitcoin showed unanimous massive bullish momentum, unlike the one-hour chart.
The post Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: King coin fails to escape bear as prices stagnate

Bitcoin’s [BTC] hold below the $4,000-mark was a major cause for concern among cryptocurrency users, as many anticipated the bear run to end soon. Other than some sporadic bullish rises in the market, most coins witnessed continued sideways movement. According to the charts, Bitcoin failed to go through any significant bullish price breakout.
1-hour
Source: Trading View
The one-hour chart for Bitcoin showed a downtrend that lowered the price from $3,910.01 to $3,856.95. The support was at $3806.85, while the resistance was at $3929.90.
The Bollinger bands moved parallelly as sideways price movement took hold of the market.
The Chaikin Money Flow indicator was above the zero-line, indicating that the capital coming into the market was more than the capital leaving the market.
The Awesome Oscillator was in a lull, suggesting reduced market momentum for Bitcoin.
1-day
Source: TradingView
Bitcoin’s one-day downtrend was more significant than the one-hour spectrum, as the price drop ranged from $6,270.24 to $3,893.53. The long-term support was holding at $3,188.72.
The Parabolic SAR was above the price candles, suggesting that Bitcoin was going through a bearish trudge.
The Relative Strength Index flattened out in the middle of the graph, an indication of the equilibrium between the selling and buying pressures.
The MACD indicator moved as a conjoined pair above the histogram after a bearish crossover. The MACD histogram was a mix of bearish and bullish signals.
Conclusion
The above-mentioned indicators projected that Bitcoin’s price variation would be constrained by the tussle between the bull and the bear, with a lack of major movement in market cap.
The post Bitcoin [BTC/USD] Price Analysis: King coin fails to escape bear as prices stagnate appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future

Bitcoin’s investor sentiment is positive considering the developments in the ecosystem. However, the price of Bitcoin doesn’t seem to be going anywhere as it is consolidating and moving in a sideways trend.
The price of Bitcoin, at press time, was $3,846 and the market cap was at $68 billion. The trading volume was hovering at $8.9 billion in the 24-hour time frame.
The largest contribution to the trading volume was from the exchange, BitMEX, via trade pair BTC/USD.
1-hour
Source: Trading View
The one-hour chart showed a downtrend that extended from $4,163 to $3,859, while the uptrend extended from $3,732 to $3,800. The price was bouncing off the support at $3,848. The subsequent resistance for Bitcoin was at $3,953.
The Parabolic SAR markers indicated a bearish pressure as they had formed above the price candles.
The MACD indicator was nearing the zero-line and indicated a consolidation. The lines, however, indicated a bearish crossover.
The Relative Strength Index showed an equal momentum from both the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed a downtrend that extended from $9,800 to $3,875. The support at $3,122 bounced the price towards the immediate resistance at $4,111. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a dominant uptrend that reversed as the downtrend was gaining strength.
The Stochastic RSI came short to hitting the oversold zone and was undergoing a bearish crossover to the bottom.
The Chaikin Money Flow showed the CMF line just above the zero-line and indicated a slight dominance by the buyers.
Conclusion
The one-hour chart showed consolidation and a slight pressure by the bears, which was confirmed by the Parabolic SAR, MACD and the Relative Strength Index indicators. The one-day chart showed a consolidation phase for Bitcoin as well. The Aroon indicator and the CMF showed a bullish trend for Bitcoin, while the Stochastic showed the beginning of a bearish trend.
The post Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Coin awaits fall as bulls leave market

Bitcoin [BTC] was stagnating for the past few days, but avoided a major decline in its price. On 12 March, the coin managed to report minimal growth, after falling over the past day.
At press time, BTC was valued at $3,879.28 with a market cap of $68 billion. BTC registered a 24-hour trading volume of $9.77 billion, while noting a fall of 1.59% over the past day. The token recovered from the fall as it noted a rise of 0.14% over the past hour. In the past seven days, the token noted a rise in price by 2.94%.
1-hour
Source: TradingView
The one-hour chart for BTC noted an uptrend from $3,849.01 to $3,928.91, which was immediately followed by a downtrend from $3,928.92 to $3,854.10. The token noted resistance at $3,909.75, and support at $3,808.34.
Bollinger Bands marked a bearish market as the moving average line was over the candlesticks. The bands appeared diverged, suggesting increasing volatility in the market.
Awesome Oscillator indicated strong bullish momentum.
Chaikin Money Flow indicated a bearish market, as the marker was under the zero-line.
1-day
Source: TradingView
The one-day chart for the largest token traced a massive downtrend from $7,359.99 to $4110. However, a minimal uptrend was noted as well, with the coin’s price moving up from $3,184.28 to $3,692.36. The token noted resistance at $4,110, and support at $3,344.
Parabolic SAR marked a bearish reign for the coin as the markers were aligned above the candlesticks.
MACD line was under the signal line and pointed towards an imminent vermilion market.
Relative Strength Index indicated that the buying and selling pressures had evened each other out.
Conclusion
According to indicators on the one-day and one-hour charts, a bearish market was forecasted for the king coin.
The post Bitcoin [BTC] Price Analysis: Coin awaits fall as bulls leave market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise

Bitcoin, the king of all cryptocurrencies briefly touched the $4,000 range following which, it tumbled down again to the $3,900 range. The rally that started a few days back has brought back excitement and volatility to the once-stale cryptocurrency market.
The price of Bitcoin at press time was $3,938 and the market cap was at $69.68 billion. The 24-hour trading volume of Bitcoin crossed the $8 billion mark and was at $8.87 billion. BitMEX is the largest contributor to the total trading volume as it contributes 16.80% i.e, $1.81 billion  of it via the trading pair BTC/USD.
Although a lot of the traders expected Bitcoin to make a “Bart move,” Bitcoin followed the contrarian theory and broke to the upside.
1 Hour
Source: TradingView
The uptrend for Bitcoin in the one-hour time frame extends from $3,356 to $3,887. Since Bitcoin was in a sideways movement which was followed by an uptrend rally, there is no sight of a downtrend yet.
The support lines are seen at $3,358, $3,498, and $3,577 while the next resistance that Bitcoin has to break is at $4,043. However, considering the market sentiment, $4,000 could also act as a strong resistance point for Bitcoin.
The Parabolic SAR markers indicate bullish movement as the markers have begun forming below the price candles.
The MACD indicator for the aforementioned time frame indicates an imminent bullish crossover as the MACD and the Signal line are in close proximity to each other.
The Relative Strength Index shows that the buyers have a slight momentum due to the recent rally.
1 Day
Source: TradingView
The one-day chart for Bitcoin, which is a longer time frame, shows bullish signs as well due to the recent rally. The downtrend extends from $9,027 to $3,917. The rally needs to be much higher for the formation of a clear uptrend. The support can be seen at $3,198 while the next resistance can be seen at $4,111.
The Aroon indicator shows an Aroon green line that has struck the 100-line, indicating that the uptrend is in full swing.
The Stochastic indicator shows that the lines have crossed the oversold threshold in a bullish crossover.
The Chaikin Money Flow indicator shows that the money flow line has crossed above the zero, indicating a bullish scenario for BTC.
Conclusion
The one-hour time frame, confirmed by the MACD, SAR, and RSI is indicating a bullish outlook for BTC. The indicators, CMF, Stochastic and Aroon of the one-day time frame confirm the same.
The post Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]’s Golden Cross Theory: The bottom for Bitcoin is closer than expected

Opinion
Bitcoin had suffered a massive attack from the bears in 2018 and at the start of 2019. The prices seem to be stuck in a loop, bouncing between resistance points, tracing a sideways movement.
The price hasn’t seen any huge movements ever since it fell down from the $6,000 range, and it is undergoing small movements which are negligible. A lot of prominent traders, investors, and enthusiasts have been trying to figure out the bottom for Bitcoin and have formed a lot of connections in relation to other boom and bust cycles of Bitcoin from the past.
One such theory is the Golden Cross Theory which has been floating around the internet and gaining traction. Golden Cross, as per the definition from Investopedia, is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average.
The golden cross is a bullish breakout pattern formed from a crossover involving a security’s short-term moving average [such as the 15-day moving average] breaking above its long-term moving average [such as the 50-day moving average] or resistance level.
History tends to repeat itself, so there is much that can be learned from the history of Bitcoin; to be precise, the golden cross that occurred on October 27, 2018. That particular golden cross took Bitcoin from $246 to ~$20,000. Considering the current scenario for Bitcoin, the moving averages are indicating, yet again, the formation of a golden cross in the near future.
Source: TradingView
Bitcoin, on January 04, 2015, fell from $457 to $191, creating a particular gap between the 200 and 50-day moving averages. This gap is remarkably similar to the one that is currently being formed between the same moving averages, as seen in the above chart.
As per the above theory and the history, the golden cross for Bitcoin might happen somewhere in the month of September 2019. Although Bitcoin won’t perfectly follow the history, considering the 286 days it took for Bitcoin to attain the golden cross, the bull run might happen on September 26, 2019.
The post Bitcoin [BTC]’s Golden Cross Theory: The bottom for Bitcoin is closer than expected appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market

Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.
The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.
1-hour
Source: TradingView
The one-hour chart for Bitcoin shows an uptrend that extends from $3,366 to $3,577, while the downtrend in the current time frame is not yet formed. The support at $3,358 is far from being tested ever since the above-mentioned rally. The resistance at $3,498 was breached a few days back however while the subsequent resistance at $3,577 is currently being tested.
The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.
The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.
The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.
1 Day
Source: TradingView
The one day chart for Bitcoin shows a dominant downtrend that extends from $9,800 to $3,590. There isn’t a major rally which would lead to the formation of an uptrend. The support at $3,189 is holding good since November of last year. However, the support at $4,111 has now become a resistance line. The long term resistance for Bitcoin can be seen hanging at $7,641.
The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.
The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.
The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.
Conclusion
The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.
The post Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: No sign of the bulls in the bear-ridden market

Bitcoin’s short-term rally came to a halt and the prices are once again moving in a sideways trend and the price candles are arranged to form a pattern that might break out soon.
The current price of Bitcoin at the time of writing was at $3,556, with a market cap of $63 billion. The 24-hour trade volume of BTC was at $6.1 billion. Most of the trade volume comes from Bitcoin perpetual contracts from BitMEX exchange via trade pair BTC/USD.
1-hour:

The one-hour chart for BTC shows an uptrend that extends from $3,366 to $3,577 while there is no clear downtrend seen for now. The support at $3,366 is holding fine, while the resistance points at $3,564 and $3,577 were being tested at press time.
The Parabolic SAR markers are signifying a bearish trend for BTC prices at the moment. There are no reversal signals being indicated as of now.
The MACD indicator shows a collapsed position, as the MACD and the signal lines are both below the zero lines. The aforementioned lines show the possibility of a crossover soon.
The Relative Strength Index shows a recovering RSI line. The momentum is favoring the sellers and not the buyers.
1-day

The one-day chart shows a clear and dominant downtrend that ranges from $9,800 to $3,613 while there are no signs of an uptrend. BTC prices, in the longer time frames, are bouncing between supports $3,189 and $4,111. The long-term resistance can be seen holding at $7,641.
The Aroon indicator shows exhaustion of the uptrend in play as the green line is falling down. This indicates a change in trend.
The Stochastic indicator shows an ongoing bearish crossover i..e, a bearish pressure on BTC prices.
The Chaikin Money Flow indicator has attained equilibrium as it is seen at the 50-line, at the time of writing. This signifies equal money flowing into and out of the market.
Conclusion
The SAR, MACD, and RSI all indicate a bearish momentum in play for BTC prices. The one-day chart for BTC shows a rather neutral to bearish pressure as indicated by Aroon, Stochastic, and CMF indicators.
The post Bitcoin [BTC/USD] Technical Analysis: No sign of the bulls in the bear-ridden market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: The sun shines on Bitcoin once again as markets see green

Bitcoin has witnessed its first rally of 2019 and it was good while it lasted, as the prices have started correcting themselves and the current price of Bitcoin at the time of writing was at $3,618 with a market cap of $64 billion.
The 24-hour volume of Bitcoin at the time of writing was at $7.65 billion and most of the trade volume comes from trading derivative contracts from BitMEX exchange via trade pair BTC/USD. BitMEX contributes a whopping $1.7 billion in trade volume.
1 Hour
Source: TradingView
The one-hour chart shows no signs of a downtrend, but an uptrend that extends from $3,619 to $3,663. The resistance points at $3,498 and $3,577 have been successfully breached and are currently holding below it. The support at $3,358 was respected as the prices bounced off of it.
The Parabolic SAR markers indicate a bearish trend as the markers have formed above the price candles.
The MACD indicator shows a bearish crossover that’s looming over the prices. The MACD histogram shows the same trend as red bars have formed below the zero-line.
The Relative Strength Index shows an overbought level for BTC in the one-hour chart, indicating the upcoming bear trend.
1 Day
Source: TradingView
While there is no clear formation of an uptrend, the one-day chart shows a downtrend that extends from $9,800 to $3,613. The support at $3,189 has supported fantastically so far, however, the support at $4,111 is being continuously being tested. The resistance point at $7,641 is holding steady.
The MACD indicator shows a bearish crossover as of February 07, 2019. The MACD histogram is starting to light up with green bars above the zero-line, indicating a bullish presence in the market for Bitcoin in the one-day time frame.
The Stochastic indicator is showing the same as well, due to the bullish crossover that has taken place.
The Chaikin Money Flow indicates an influx of money into the BTC markets as the CMF line has risen above the zero-line after briefly dipping its toes below it.
Conclusion
The one-hour chart shows a bearish trend for Bitcoin unlike in the one-day time frame. The indicators, SAR, MACD, and RSI all show a bearish trend. The one-day chart shows bullish signs for BTC as confirmed by the Stochastic, CMF and MACD indicator.
The post Bitcoin [BTC/USD] Price Analysis: The sun shines on Bitcoin once again as markets see green appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Dark clouds loom over Bitcoin’s future

The price of Bitcoin has been stuck in a sideways pattern ranging from $3,498 to $3,577 retesting the highs and lows time and again.
The price of Bitcoin, at the time of writing, was at $3,541 with a market cap of $62 billion. The 24-hour trading volume of Bitcoin is $5.1 billion and most of the trading volume is contributed by BitMEX exchange via BTC/USD trading pair.
1 Hour

The one-hour chart shows strong downtrend with a small uptrend that is due to the sideways movement and repeated correction of the price while the downtrend extends from $4,205 to $3,567. The support can be seen at $3,577  and at $3,498, which are the only two supports holding BTC from collapsing into a downward spiral. The resistance point for BTC is seen at $3,654.
The Parabolic SAR markers are seen spawning above the price candles indicating a bearish pressure from the upside for the BTC prices pushing it further down.
The MACD indicator shows bearish crossover in the one-hour chart as the histogram is also indicating the same trend, with red bars that have developed below the zero-line.
The Awesome Oscillator shows a bearish crossover as well with the red lines breaching to the bottom of the zero-line indicating that the momentum of the price has reduced drastically.
1 Day

The Aroon indicator shows Aroon red-line that has struck the top and is on its way down indicating that the downtrend, although prominent is slowly exhausting.
The Bollinger Bands show a bearish pressure on the prices with decreased volatility as the bands have squeezed and the prices have fallen below the SMA.
The Chaikin Money flow shows a rather negative stance for Bitcoin in the longterm scenario as the CMF line is below the zero-line indicating that money is flowing out of the market for Bitcoin.
Conclusion
The one-hour chart shows a massive bearish scenario for Bitcoin as indicated by SAR, MACD, and AO indicators. The Aroon, CMF and the Bollinger Bands all indicate a bearish stance for Bitcoin in the longer time frame.
The post Bitcoin [BTC/USD] Technical Analysis: Dark clouds loom over Bitcoin’s future appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Capitulation is still underway as BTC goes into consolidation phase

Bitcoin, the world first’s cryptocurrency is still seeing sideways movement and in the price range of $3,500 to $3,600. The consolidation for BTC is occurring and a breakout from the recurring bear pennant is imminent.
The market cap of Bitcoin is holding steady at $63 billion, while the trading volume is above the $5 billion-line and most of the trading volume for BTC comes for the one and only BitMEX exchange via its BTC/USD pair.
1 Hour
Source: TradingView
The one-hour chart shows strong downtrend with a small or an infinitesimal uptrend that is due to the sideways movement and repeated correction of the price. The downtrend extends from $4,205 to $3,567. The support at $3,577 was breached multiple times on January 22, 2019, at 15:00 UTC and it has now been converted into a resistance line at the time of writing since the prices were below it. The subsequent support at $3,98 is the only thing holding BTC from collapsing into a downward spiral.
The Madrid Moving Average Ribbon shows that the price has broken out of the pressure created by the bears as green ribbons have developed, indicating that there was a trend reversal that has happened.
The MACD indicator also shows a bullish crossover which is trying to break through the zero-line to the top. The MACD histogram shows the same as green bars have developed over it.
The Relative Strength Index also shows a climbing RSI line that is on the verge of hitting the 60-line, indicating an increased buy-momentum for Bitcoin.
1 Day
Source: TradingView
The Bollinger Bands for Bitcoin in the one-day chart shows a squeezed condition indicating that the volatility has reduced. The prices, however, are below the SMA indicating a bearish trend for prices.
The Aroon indicator shows a prominent downtrend in play as the Aroon-red line has struck the top of the Aroon band.
The Chaikin Money Flow shows a declining trend for Bitcoin indicating that the money is going out of the market [sell-action is more compared to the buy action].
Conclusion
The one-hour chart is lit with bull-signs for Bitcoin as indicated by the Madrid Moving Average Ribbon, MACD, and the RSI. The longer time frame shows that Bitcoin is still in the bearish territory.
The post Bitcoin [BTC/USD] Technical Analysis: Capitulation is still underway as BTC goes into consolidation phase appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern

The price of Bitcoin is currently in a consolidation phase after formation of a recurring pattern twice within the span of a month. The current price of Bitcoin, at the time of writing, was $3,580, with the market cap hovering at $63 billion.
1-hour
Source: TradingView
Bitcoin’s price action, as seen in the chart above, is the best example of history repeating itself. The overall trend of Bitcoin is a downtrend as it has consistently been forming lower lows as seen in the hourly charts.
Pennant
There is a clear formation of a pennant in the price action chart, which breaks out to the top and then moves in a sideways fashion before dropping to retrace the same pattern all over again. However, it will be in a slightly lesser proportion compared to the one before.
Pennants usually show how the price gets caught up between forming lower lows as they head towards the peak of the pennant, where they have no more room, thus causing a breakout.
The first pattern started its formation on December 27, 2018, and it proceeded to ricochet between the trend lines consistently. The price broke out of the pennant pattern caused a massive spike of 6.56% as the prices rose from $3,838 to $4,090, The spike was followed by a sideways movement, which caused a sudden collapse in prices.
Fibonacci Retracement
The sudden collapse in the prices took place in two distinct steps, which occurred at the 0.618 Fibonacci level. The 0.618 level or the 61.8% level is deemed as the most important level by most traders. The price drop happened from $4,026 to $3,618, making a pit stop at $3,812, which, in total, was a drop of 10.13%. By observation, it can also be noted that the second collapse was almost half of the first one.
The second pattern that formed, followed the footsteps of the previous pattern and the price broke out of the pennant at $3,625 and reached $3,728, which was a total percentage increase of approximately 3%, which is half of the previous breakout. This followed by yet another sideways/downtrend movement, which collapsed again at the same Fibonacci level as the previous pattern. The collapse took place from $3,689 to $3,514 with a stop at $3,587 at the 0.618 or 61.8% Fibonacci level. The total decline was 4.74%, which is approximately half of the previous collapse.
Moreover, before the formation of the second pennant, the sideways movement of the prices found support at 0.886 or 88.6% Fibonacci level of the first pattern which was eventually broken as the prices fell lower.
At the moment, the prices are being supported at the 0.86 or 88.6% Fibonacci level of the second pattern, which is at $3,514, a perfect correlation. If the prices ever decide to break below this support, there is going to be a collapse.
1-day
Source: TradingView
The one-day chart also shows a consistent downtrend with prices forming lower lows, indicating a strong bear trend for Bitcoin. Bitcoin’s fall into the abyss is currently being supported by two supports, the first and the imminent support is at $3,477, which was tested multiple times. The second support is the lowest that Bitcoin reached in 2018, which is at $3,139.
Volume 
The volume indicator shows a very important indication of decreasing volume that has been in play since mid-November, which confirms that the price will undergo a massive and sudden change in the future.
The change, as per the technicals, indicates that the price should move downwards, however, the prices could go either way.
The Relative Strength Index also shows a declining trend, indicating that the selling momentum for Bitcoin is increasing.
Conclusion
The one-hour chart shows a recurring pattern in which the prices are being supported at the 0.86 Fibonacci level. If the price ever decides to drop to below the current support it would face the next immediate support at $3,136. In a worst-case scenario, the price would go into a free fall until $1,900 and the price was last seen at this point on July 14, 2017.
If the breakout happens to the upside then the price would have no resistance until $4,422 to $5,000, where the prices will be tested before it moves up. However, the one-day chart shows a declining volume trend, which indicates a strong movement in price that might happen in a few days.
The post Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Bulls ride the prices out of the immediate resistance zone

Bitcoin has once again been moving in a sideways trend stuck in the $3,600 range consolidating for over nine days now.
The market cap of Bitcoin is at $64 billion with 24-hour trading volume at $5.3 billion after dipping as low as $4.92 billion. Most of the trade volume for Bitcoin is coming from BitMEX exchange for trading derivates of Bitcoin paired with USD.
1-hour
Source: TradingView
The uptrend for Bitcoin has extended and it now ranges from $3,498 to $3,593, while the downtrend extends from $4,025 to $3,724. The prices are being supported at $3,578 which is the immediate support, and at $3,498. The resistance for Bitcoin are at two points, $3,648 to $3,666 and $3,919 to $3,944.
The Aroon indicator shows that uptrend for Bitcoin in the one-hour shows that the Aroon green line has struck the 100-line after showing signs of crashing. The Aroon indicator shows that the bulls have taken control of the price and are pumping it.
The Chaikin Money Flow shows that the money flowing into the Bitcoin market is far greater than the money flowing out, which indicates that the buyers are in control of the market.
The Relative Strength Index shows that the momentum for BTC has shifted towards the buyers, as the RSI line has broken the over-bought zone.
1-day
Source: TradingView
The one-day chart shows that the downtrend is far more dominant and doesn’t compare to the measly uptrend in the larger time frame. The uptrend extends from $3,184 to $$3,514, while the downtrend extends from $9,800 to $4,004. The prices are supported at $3,183 while the resistance lines can be seen hanging at $7,359 to $9,075.
The Bollinger Bands show that the prices are undergoing a squeeze and the prices are trying to swim above the simple moving average line.
The MACD line and the signal line look like they are about to coincide and cross each other in a bullish crossover. The histogram shows that the red bars below the zero-line are reducing in strength post the price hike that Bitcoin has seen.
Conclusion
The Aroon, CMF and the RSI all indicate that the bulls have returned taking riding the prices in an uptrend. The one-day chart also shows the same as the Bollinger Band and MACD indicator both indicate a possible bullish crossover that is imminent.
The post Bitcoin [BTC/USD] Technical Analysis: Bulls ride the prices out of the immediate resistance zone appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: The Digital Gold is barely hanging on

Bitcoin, which was holding the $3,600 line has been breached on January 13, 2019, at 15:00 UTC and BTC is currently being traded at $3538. The market cap of BTC has also collapsed and is currently at $62 billion with 24-hour trade volume at $5.15 billion.
BitMEX is the biggest contributor to this trade volume as it contributes a total of $964 million via trade pair BTC/USD in the form of derivatives. CoinBene is the second exchange that has contributed the most i.e., $300 million via trade pairs BTC/USDT, LTC/BTC, QTUM/BTC, and XLM/BTC.
1 Hour
Source: TradingView
Bitcoin’s prices in the one-hour chart show an uptrend that extends from $3238 to $3498 while the downtrend extends from $4205 to $3538. BTC has broken its support at 3578 and dropped lower, creating new support at $3498. The resistance points are still the same, i.e, $3,919-$3,944 and $4,203-$4,239, which are yet to be tested.
The Aroon indicator shows a bullish trend for Bitcoin as the Aroon green line has hit the 100-line. The Aroon red line has plunged lower indicating that it has lost control of BTC’s trend.
The Stochastic indicator shows a bearish downtrend as the Stochastic line has crossed the signal line to the bottom indicating a bearish crossover.
The Chaikin Money Flow shows a positive outlook for BTC as the money is flowing into the market, which means that the buyers are dominating when compared to sellers.
1 Day

Source: TradingView
The one-day chart shows a small uptrend that extends from $3,184 to $3,626, while the downtrend extends from $9,800 to $4,004. The long-term support can be seen hanging at $3,183 while the resistance points are seen at $7,359 subsequent resistance can be seen at $9,113.
The Parabolic SAR markers for Bitcoin in the one-day chart have spawned above the price candles which indicates a bearish pressure for the prices.
The MACD indicator, just like the SAR shows a bearish outlook as the MACD lines are undergoing a bearish crossover.
The Awesome Oscillator shows a bearish crossover that has just begun as the red lines have moved to the bottom of the zero-line.
Conclusion:
The one-hour chart paints a positive picture for Bitcoin as indicated by the Aroon, CMF, and Stochastic indicators. The one-day time frame shows a rather negative outlook for Bitcoin as indicated by SAR, MACD and the AO indicators.
The post Bitcoin [BTC/USD] Technical Analysis: The Digital Gold is barely hanging on appeared first on AMBCrypto.
Source: AMB Crypto