Analysis

Bitcoin(BTC)trade is currently is trading at $10,050. Looking at the chart below we can see a steep fall of around 12% without any green candle. $10,201 is currently acting as resistance with support at $9,678. It is very likely that the Bitcoin price will touch the support level so it is suggested not to take any fresh long position until the price breaks the resistance of $10,201. The virtual coin may get stuck between the…

Bitcoin(BTC)trade is currently is trading at $11,713. When looking at the chart we can see a clear uptrend, with the trend line acting as support. Also, when looking at the bigger picture it can be seen that the price is moving from an upwards to a sideways movement. The resistance level is at $12,123 with support at $11,673. As long as the Bitcoin price is above $11,850 the trend is bullish, and if it would…

Bitcoin(BTC)trade is currently is trading at $9,565. Although the trend appears to be a downtrend, when looking closely it actually can be seen that the price is stuck in a sideways trend. Resistance level is at $9,627 and support and support is at around $9,400. It is suggested not to take a long position at this price as it is stuck in indecision mode. Wait for the price to either break the resistance or support….

Bitcoin(BTC)trade is currently is trading at around $9,500. After a formation of a double top and bearish engulfing pattern, we see a steep downfall. The price has the broken the support level of $10,800, turning it into resistance and support is at $8820. It is suggested not to take any long position at this price and to wait for the price to settle around $8,820. Dow Theory According to Dow Theory, the price is in…

Bitcoin(BTC)trade is currently trading at $11,283. Looking at the chart, we see that the price is in a continuous uptrend. The price has recently broken the resistance of $11,146, turning it into support as the new resistance is at $11,734 and then the next one at $12,454. The uptrend is strong as we see formation of a cup and handle pattern. Although this could be a false breakout, long positions can be taken keeping the…

Bitcoin(BTC)trade is currently trading at $9279 and the price is in a continuous uptrend. The price has recently broken the resistance of $8,951 turning it into support with new resistance at $9,500. The uptrend is strong as we see a formation of a bullish engulfing pattern which is a strong bullish pattern. Dow Theory According to Dow Theory, the price is in the excess phase, which is an extension to the public participation phase. During…