Looking at previous BTC bull runs the graph illustrates a peak above the trendline for each run with the RSI making two tops. If Bitcoin where to form the same structure the price still has a lot of upside potential. Incase of a negative reaction support could be found at the floor of the trend channel.
Looking at the previous bull run for Bitcoin the price surged almost 1500% from previous all time high. The green circles indicate a moving average crossover, and shows the price holding the 20-period moving average (purple line). Using this structure to compare it to the market cycle today does some similarities appear. The moving average crossover occurred and...
Bitcoin is trading inside the triangle formed on the chart and a resistance area has been established. Price has been rejected to break through or even enter the resistance area. Breaking the resistance would indicate further increase in the price. Fibonacci retracement can give indications on how far the price will move. Looking at the graph the previous...
Bitcoin broke above the trendline formed on the 12-hour chart. The chart shows similar structures in the past, where the price broke above the trendline and back tested the trendline making it a new support before the price started to climb. From earlier Bitcoin broke its longer-term trend channel (dashed white line) which now can indicate a resistance level. If a...
Bitcoin corrected from its all time high and found support at the 50-period moving average (orange line). The chart have formed a descending channel. The price has shown to create descending channels previously. Bitcoin's price broke above the previous descending channels and moved to set new highs as seen in the chart. If the price breaks the channel to the...
Bitcoin is rising within the long-term trend channel indicating optimism among investors. The chart shows resistance at the top of the trend and support at the bottom.
Bitcoin is still trading with upwards momentum on the 4-hour chart and formed a triangle formation. A breakout to the upside of the triangle indicates upwards momentum for the price. The RSI is showing bullish signs with a rising trend in the short term. In case of a break to the downside the price looks for support levels to hold. The chart indicates some support...
Bitcoin corrected from all time high and looks to hold the trendline. New buyers may enter around the support level of $57.000 and make a push towards new all time highs. A break to the downside of the trendline would indicate that the trend is broken, and the price will look for support at key levels. The chart indicates some support around $52.500.