Bitcoin Weekly Forecast: BTC/USD Does Not Want to Move Below $50,000

Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud. Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo. Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and found support at the cloud – also called the....

Levels immediately below the current $23,000 need to hold at the weekly close for Bitcoin bulls to breathe easy, commentators warn. Bitcoin (BTC) recovered above $23,000 into July 22 as attention increasingly focused on the upcoming weekly close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price needs to preserve at least $22,400Data from Cointelegraph Markets Pro and TradingView showed BTC/USD finding renewed strength after briefly dipping towards $22,000.The pair traded in a critical zone for bulls on the day, with the 50-day and 200-week moving averages (MAs) still yet....

The Channel Low. In my previousCryptoCoaster video, I forecast that an extreme negative case would see Bitcoin price reach the long-term channel low. The following weekly logarithmic chart shows that this scenario has played out with some precision, the channel low and previous double bottom were a likely point for reversal: Weekly logarithmic chart showing Fibonacci channel and support. The Gox Bitcoin price is now history. While I considered such a move unlikely, this was before the fatal nature of Mt. Gox's situation came to light. I'd long considered Gox to be sketchy and tried to....

I have been asked both publicly and privately to speculate as to when and where the price will bottom. Speculation of that nature is risky, because it is so very easy to get the forecast wrong. Unfortunately, the nature of the internet audience is such that even if the forecast pans out, trolls will say it was a "lucky guess," or otherwise find a reason to minimize that success. On the other hand, if the forecast proves to be mistaken, the mistake will be loudly heralded as proof positive that the analyst knows nothing at all. However, there is a place in price-time which is increasingly....

At the end of last week, we published a piece highlighting the day's action in the bitcoin price, and offering up our suggestions for likely future action as we headed into the weekend. As well as a short synopsis of what we saw so far, we presented our readers with a few key levels to keep an eye on - key levels around which, with any luck, action would offer clues into where the bitcoin price was headed. Action has now matured over the weekend, and many of our forecast levels have been hit. So, with this said, what will we be watching as we head into a fresh week of trading? Take a quick....