Bitcoin Setting Up For ‘Large Move’ Amid $103,000 Retest – Key Levels To Watch
Amid the tension in the Iran-Israel conflict, the cryptocurrency market experienced another daily pullback. Bitcoin (BTC), which had just recovered from Friday’s drop, erased its recent gains and recorded a 4.5% dip to the $103,000 mark in the past 24 hours. However, some analysts believe that the flagship crypto is preparing for a big move in the coming weeks. Related Reading: Ethereum Eyes Big Move As Price Compresses Between Key Levels – $2,100 Or $4,000 Next? Bitcoin Could See Massive Move Soon On Monday, Bitcoin attempted to break its post-November range high but failed to hold the....
Related News
Crypto analyst Basic Trading has revealed that the Dogecoin price is confirming a final retest before a potential move to the upside. In line with this, he revealed price levels to watch for as DOGE eyes a bullish breakout. Levels To Watch For As Dogecoin Price Confirms Final Retest In a TradingView post, Basic Trading highlighted $0.2, $0.5, and $5 as the levels to watch out for as the Dogecoin price confirms a final retest. This came as the analyst noted that market participants are about to witness a textbook ‘break and retest’ for Dogecoin. Alluding to the monthly chart, the analyst....
A little earlier on this morning, we published our twice daily bitcoin price watch piece. In the piece we outlined the levels we were looking to watch in the bitcoin market throughout Friday's session, and stated that - if we got the volatility we were looking for - we would look to enter according to our breakout strategy in an attempt to draw a short term scalp profit on the action. Action has now matured throughout the day, and we are heading into the close of the European session and the beginning of the weekend. In the majority of other financial assets, markets would be pitching to....
Earlier today, in the first of our twice-daily Bitcoin price watch pieces, we documented the breakout above $400 we saw last night. Traditionally, strong psychological levels (such $100, $200, $500, $1,000 etc.) will initiate the kind of volatility we saw on the break, and when they are broken to the upside, will often retest as support. Conversely, but similarly, when a key level breaks to the downside, it will often retest as resistance. In this instance, however, we've not seen this retest. Price has stayed buoyant despite the inevitable run of profit taking, and this suggests there is....
On-chain data shows the Bitcoin spot price is currently sandwiched between two zones where a large number of investors last bought their coins. Bitcoin Is Trading Between Two Major On-Chain Demand Zones In a new post on X, analyst Ali Martinez has talked about where the key Bitcoin on-chain support and resistance levels currently lie. In on-chain analysis, support and resistance levels are defined based on investor cost basis. The reason behind this is naturally the fact that holders are particularly sensitive to retests of their break-even mark. How exactly an investor would react to a....
At the beginning of this week we saw a sharp decline in the bitcoin price, mirroring last week's Sunday decline towards 232 flat. Throughout the first few days of the week, some of this decline has abated and we saw some temporary reprieve with consecutive multi-and intraday targets around the 239-241 region. Yesterday afternoon we published a piece highlighting the upward sloping channel and the 240 target implied if we got a strong retest of support. We got this retest, and having reached our noted highs price collapsed into the late US afternoon session. A quick look at the technicals....