Bitcoin Just Printed a Monthly Close Above a Pivotal Support Level
It’s been quite the boring past four weeks for the Bitcoin market. The cryptocurrency, after suffering a strong plunge at the start of the month, was largely rangebound between $10,000 and $11,000 over September. Despite the lack of strong price action, not all hope is lost for Bitcoin bulls. In fact, many analysts remarked at […]
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In this episode of NewsBTC’s all-new daily technical analysis videos, we are once again looking at the Bitcoin price monthly chart as well as the monthly chart on Ethereum, and major stock market indexes that have a high correlation with crypto. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 31, 2022 There isn’t much to report on since yesterday’s video, so all eyes remain on the pivotal monthly close in Bitcoin and other risk assets. As you learned in yesterday’s video, the BTCUSD monthly is on a TD9 buy setup, and could risk a lower....
Bitcoin price ended last week with a sharp, $3,000 decline, but the leading cryptocurrency by market cap is already right back where it left off, nearly retesting above $19,000 and setting a new all-time high. Even if the cryptocurrency pulls back again before the clock strikes 7:00 PM ET, the chances of a pivotal November close outside of the Bollinger Bands remain high. Here’s why this is so important, and what this might mean for […]
Today is September 30, and while for most all it does is mark the last day of the month, for Bitcoin, it marks an incredibly critical monthly candle close. The first-ever cryptocurrency is retesting an important resistance level turned support on monthly timeframes, and holding strong could be a confirmation of a breakout from the […]
Bitcoin has entered no man’s land as it fails to pass $11,000 but is holding the low-$10,000s. The coin now trades at $10,900 as of this article’s writing, again below the aoforementioned support. Bitcoin actually may be in a positive spot, though, as it managed to hold a pivotal technical level of macro importance. Bitcoin Holds Pivotal Macro Support Level To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. After […]
Renowned crypto analyst Rekt Capital has recently highlighted the pivotal nature of the Bitcoin price’s imminent monthly candle close. In a statement via X (formerly Twitter), he detailed that Bitcoin has tagged the $27,000 monthly level from the underside, meaning it is acting as resistance for the time being. He explained that “the upcoming monthly candle close is just around the corner. Bitcoin needs to monthly close above $27,091 for this to be a fake-breakdown. Otherwise, the breakdown will be technically confirmed.” To give this statement some historical context,....