Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion
There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto....
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Bitcoin price correction started yesterday after we spotted a "Bearish engulfing" candlestick pattern on the 4 hour (BTC/USD) charts throughout yesterday's analysis. Price correction pulled the price all the way down to $390, but thereafter we started spotting signs that signaled cessation of the downside price correction attempt. Price Correction Slowing Down on 4 Hour Charts: By analyzing the 4 hour (BTC/USD) charts from Bitstamp; executing Bollinger Bands and keeping the 38.2%, 50% and 61.8% Fibonacci retracement levels we plotted during our analysis on the 2nd of November, we can....
Bitcoin prices took a dramatic drop yesterday, despite having given indications that price wanted to go higher. Prices have rallied back to almost the high, but there are now indications that bulls should be wary. Elliott Wave theory suggests that corrective waves often take a 5-3-5 pattern. In this case, it is often the case that the 1st and 3rd waves are related to one another in a Fibonacci relationship. In other words, the third wave might be .618 of the first wave, or often, the waves might be the same size in terms of price. That is exactly what we saw yesterday. The collapse....
A team of economists from UCL Centre for Blockchain Technologies, Deutsche Bundesbank, University of Wisconsin and The New School have published a research paper titled “The Evolution of the Bitcoin Economy: Extracting and Analyzing the Network of Payment Relationships.” The economists’ conclusion is that the Bitcoin economy has grown and matured from an early prototype stage, through a second growth stage characterized by “sin” (i.e. gambling, black markets), to a third stage marked by a sharp progression away from “sin” and toward legitimate enterprises. The conclusion is hardly....
Bitcoin price resumed its upward movement today as it rose from around $232 to over $247 at the time of the writing of this article. The buying volume of today's market seems to be pushing the price towards the $256 resistance line. By studying the 4 hour Bitfinex BTC/USD charts from tradingview.com (look at the below chart), we can see that the trading day started by forming four bullish (green) candles which points to today's market buying power, so we are likely to see the price increasing even more later today. By plotting the "William's Alligator" indicator on the same charts as we....
Bitcoin price dropped further today to trade around $250 on most times of the day. The price touched values around the $230 support level earlier today could be considered a low of the current bearish trend line. By studying the 2 hour BTCE (BTC/USD) charts from tradingview.com, we can notice that the price was trading sideways as the price continues to come close to the $230 support level (look at the below chart). Today's trading volume is apparently lower than yesterday's which reflects cautious trading strategies of most traders. The long downward shadows of candlesticks on the 2....