Bitcoin Price Weekly Analysis - Rebound Likely Over
Key Highlights. The Bitcoin price recently corrected higher after declining close to the ¥1800 level. It looks like the price has completed the correction phase and may start trading lower once again. There was a major support trend line formed on the hourly chart (price feed from BTCChina), which was broken to ignite a downside move. Bitcoin price rebound from the ¥1811 low is likely completed and it may start to move lower if sellers gain momentum. Retest of ¥2000 Likely? The Bitcoin price managed to gain bids near the ¥1800 support area and managed to recover some ground. However, it....
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Bitcoin is continuing its upward movement. The short-term upward structure can turn out to be a wave of a flat, which will be followed by a downward rebound. Is the downward rebound over? The minimal correction targets have been reached, so the movement is about to be decided. Bitcoin’s price has fortified inside a flat, at the level of $540, and an upward impulse followed. But Bitcoin’s price did not go beyond the weekly flat’s limits ($518-560). Hence, there is a probability of a continuation of that flat. If that is the case, Bitcoin’s price is likely to rebound around $560, and form a....
Bitcoin has been struggling for the past couple of weeks as longs continue to book profits at higher levels near $465. This also makes sense given that the cryptocurrency is overbought from a weekly perspective. Bitcoin is currently trading at $439.71. But, near-term long holders who could not get out near the tops may get another opportunity as a small bounce-back looks imminent. Below are the reasons why I believe so. Image. Technical analysis of the 4-h BTC-USD price chart reveals some interesting points. Support from 100 4-h SMA - The 100 4-h simple moving average of $433 is expected....
Solana is still facing a lot of resistance and it seems that the $200 target is getting harder to reach. This has been made harder by the bearish market winds, as well as declining participation from investors in online activities. As such, the Solana price is still struggling to stay above $150. However, given that there is starting to be a turn in the market sentiment toward the positive, the Solana price could be headed for a quick rebound. This is echoed by crypto analysts who have predicted that the altcoin still has room to run and one in particular suggests that new all-time highs....
The minimal target of the upward trend has been reached. Bitcoin’s price is in rebound before a new push. What direction will Bitcoin choose? The upward trend didn’t follow through, but despite that, Bitcoin’s price has still reached its nearest target. The level of $418-19 was a peak of a bearish rebound within a larger scale trend. Movements like these are usually followed by a rebound towards the larger structure, which in our case has started at $403. The peak of that rebound is going to be around $410.5, where Bitcoin’s price may suddenly stop and pick a direction.
The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot. (Data feeds from Binance) Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Price Analysis Of Polkadot On The Weekly (1W) Chart From the chart, the price of DOT saw a weekly low of around $6.50, where it has formed support. The price has built more momentum as it faces resistance at $10. A break above....