Bitcoin Price Intraday Analysis: BTC/USD Wedge Support Broken

Bitcoin price on Monday depreciated against the US Dollar after consolidating sideways for the whole Asian and European sessions. The BTC/USD at the beginning of the US trading hours formed lower lows towards 6239-fiat. Before that, the pair was trading sideways owing to minimal momentum. It kickstarted the Asian session with just shy of 6500-fiat and recorded marginal gains as the day matured. BTC/USD started retracing below 6500-fiat during the early European session, displaying weak pullbacks from the said psychological level. And, right around the time of this writing, and…

Bitcoin Price Intraday Analysis: BTC/USD on Sideways Trend

Bitcoin price on Friday made no significant corrections from its intraday low near $6,302. The BTC/USD over the course of past 24 hours has done a raise-and-erase act, signaling a sideways sentiment. At the beginning of the Asian session, the pair had noted a weak bull correction attempt, so that it established an intraday high around 6540-fiat. The bulls got cold feet around 6500-area and sellers started exiting their long positions – perhaps on small intraday gains – to push Bitcoin back towards the previous low. That was the European…

BTCUSD in Near-term Ascending Triangle

Bitcoin price today spiked 3.5 percent against the US Dollar in an attempt to recover the losses incurred on Saturday. The BTC/USD pair started the Asian session by continuing to recover on the bounce from 6557-fiat. Despite a slow momentum, the pair protected its turg against the long-term bearish sentiment, rising to as high as 6785-fiat by the beginning of the European trading session. As US traders wake up from their sleep, BTC/USD would have already formed a near-term ascending channel, providing us potential breakout positions for the rest of…

Bitcoin Price Watch: BTC/USD Forming Breakout Pattern Above $6,600

Key Points Bitcoin price is trading in a contracting range with support above the $6,600 level against the US Dollar. There is a major contracting triangle in place with resistance around $6,740 level on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to make the next move either above $6,750 or below $6,600 in the near term. Bitcoin price is trading in a positive zone above $6,610 against the US Dollar. BTC/USD is preparing for the next move either above $6,750 or below…

Bitcoin Price Weekly Analysis: BTC/USD Poised To Test $7,000

Key Points Bitcoin price gained traction recently and moved above the $6,550 resistance against the US Dollar. There is a crucial bullish trend line in place with support at $6,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair might dip a few points, but it remains supported above the $6,650 and $6,550 levels. Bitcoin price is positioned nicely in a bullish zone above $6,550 against the US Dollar. BTC/USD is likely to trade towards the $6,900 and $7,000 levels in the near term. Bitcoin…

BTCUSD in Slow and Stable Upside

Bitcoin today underwent a slow and stable upside correction, rising as much as 4.5 percent from the previous day bottom at $6,317. BTC/USD kicked off towards 6500-fiat during the early trading session and established its intraday high around 6580-fiat. The pair, however, began to settle down near the said high as the European trading session came into play. There were minor some bearish correction as the day matured. But, at the time of this writing, and at the beginning of the US session, the BTC/USD has extended its downside correction and…

Bitcoin Price Watch: BTC/USD Slowly Grinding Higher Towards $6,700

Key Points Bitcoin price is forming a support base above the $6,350 and is currently moving higher against the US Dollar. There is a short-term contracting triangle forming with resistance near $6,610 level on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $6,420 and $6,350 support levels to move higher. Bitcoin price is gaining pace above the $6,400 level against the US Dollar. BTC/USD is likely to rise in the near term above the $6,620 level. Bitcoin Price Analysis Yesterday, we…

Bitcoin Price Intraday Analysis: BTCUSD Breaks Ascending Triangle

Bitcoin price on Tuesday continued to stay capped by a stiff resistance near $6,500. The BTC/USD pair started off today with a near-term bullish correction from intraday support near 6232-fiat. The upside looked strong during the Asian trading session and was able to go above 6500-fiat by the afternoon. However, the presence of a firm selling sentiment near the said resistance once again reversed the trend. The European session saw price slipping back to the 6400-ish range following the pullback. As BTC/USD trends sideways, it has now broken below the…