Bitcoin (BTC) analysis thread

[ScottHughes]

Yes also hoping for better strength this month but at least hold where it is.

 

[K_Robdog]

Good to see Bloomberg is bullish!

 

[Stephen Paul]

Yes let's hope that it picks up soon.

 

[sebking1986]

Good analysis as always. I'm sitting on my hands for now

 

[Christina Ledger]

View attachment 55176
View attachment 55177
Hi all. A boring week for me even with almost $1000 from the bottom to the peak of the BTC price.
This week will be only a small update from the last one plus one bullish chart and opinion from Bloomberg. I`m expecting next week and end of the month for more conclusions.
Actual situation. (chart 1)

• The price is still trying to breach the upside line but still can`t do it.
• 10 EMA – the price almost perfectly bounced from it again this week and it`s back above (for now).
• 21 EMA - the price is still above it even without a touch of it.
• Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
• Parabolic SAR – 9 weeks bullish signaling.
• Weekly pivot point is $9259.78 – a similar scenario like the last week. Sorry to say it but seems like we`ll end this week below it which can lead to another negative week next week, and remember that almost In the middle of it will be the end of the month.
• Support and resistance:
• Support:
• 1st support - $8500 - 50% Fibo and VPVR profile
• 2nd support - $7800
• Resistance:
• 1st resistance - $9500-9800
• 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

A Bloomberg view. (chart 2)
According to Bloomberg, the narrowest ever bollinger bands suggest that Bitcoin is consolidating for a major breakout. In their opinion, Bitcoin is priming to break out of the upper resistance level of $13,000. At the same time, he says that it is critical that price does not fall below $6,500. For more perspective check their chart.

That`s all for now and let`s hope for a better end of the month than the actual one.
See ya next time.

i think we will see a surge.

 

[momo3HC]

Hi all. A boring week again.
This week i`m going a bit long-term again with 2 charts again.

Can the history be repeated? (chart 1)
It`s not 100% sure that the history be repeated but since now it looks like it`s happening even with some little differences but they`re insignificant. I`ll not say much more and will let you to think about this pattern.

Bitcoin Puell multiple. (chart 2)
This is something really interesting too. Thanks to Glassnode and their Puell multiple (PM) chart we can see a never failed since now bullish signal and even more. We saw this signal in the past is 100% right and now it`s even confirmed cuz the PM line went down to the green zone, then went up out of it, then back down but it bounced almost at the border and went back up. You can check this chart on their site.

Actual PA situation:

• The price is still trying to breach the upside line but still can`t do it.
• 10 EMA – the price is perfectly bouncing from it again.
• 21 EMA - the price is still above it even without a touch of it.
• Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
• Parabolic SAR – Another bullish week and there`s 10 weeks bullish signaling.
• Weekly pivot point is $9249.13 – a similar scenario like the last two weeks. Sorry to say it again but seems like we`ll end this week below it which can lead to another negative (3rd) week next week.
• Support and resistance:
• Support:
• 1st support - $8500 - 50% Fibo and VPVR profile
• 2nd support - $7800
• Resistance:
• 1st resistance - $9500-9800

2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

That`s all for now.
See ya next time.

 

[K_Robdog]

Price certainly looks like it is being squeezed. Hopefully it will be to the up side.

 

[Stephen Paul]

Thanks for the analysis Momchil, much appreciated.

 

[sebking1986]

Justbeen ranging for what seems like weeks now. Hopefully see a significant move either way very soon!

 

[pezz55]

View attachment 55391
View attachment 55392
Hi all. A boring week again.
This week i`m going a bit long-term again with 2 charts again.

Can the history be repeated? (chart 1)
It`s not 100% sure that the history be repeated but since now it looks like it`s happening even with some little differences but they`re insignificant. I`ll not say much more and will let you to think about this pattern.

Bitcoin Puell multiple. (chart 2)
This is something really interesting too. Thanks to Glassnode and their Puell multiple (PM) chart we can see a never failed since now bullish signal and even more. We saw this signal in the past is 100% right and now it`s even confirmed cuz the PM line went down to the green zone, then went up out of it, then back down but it bounced almost at the border and went back up. You can check this chart on their site.

Actual PA situation:

• The price is still trying to breach the upside line but still can`t do it.
• 10 EMA – the price is perfectly bouncing from it again.
• 21 EMA - the price is still above it even without a touch of it.
• Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
• Parabolic SAR – Another bullish week and there`s 10 weeks bullish signaling.
• Weekly pivot point is $9249.13 – a similar scenario like the last two weeks. Sorry to say it again but seems like we`ll end this week below it which can lead to another negative (3rd) week next week.
• Support and resistance:
• Support:
• 1st support - $8500 - 50% Fibo and VPVR profile
• 2nd support - $7800
• Resistance:
• 1st resistance - $9500-9800

2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

That`s all for now.
See ya next time.

Not sure history will do it again. dont see the hype behind bitcoin on the rally side at the moment. to many people looking to get in at a lower price. great read tho