Bitcoin Coiling At Key Support — Major Move Brewing
Bitcoin is tightening its range at a critical support zone, with price action compressing after weeks of sideways movement. As volatility contracts and momentum build beneath key resistance, the market appears to be preparing for a decisive breakout. With major support holding for now, the stage is set for a significant move. Consolidation Zone Signals Strategic Accumulation Crypto analyst Donald Dean highlights that Bitcoin is currently in a prime position for consolidation and accumulation. Currently, price action continues to respect a crucial support trendline, with steady buying....
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The SUI/USDT weekly chart is attracting attention as the price action tightens within a defined range. After a period of decline and consolidation, the asset is stabilizing, with key support levels holding firm. The structure suggests that the asset may be gearing up for a potential shift in trend. Price Action Coiling Up — Will […]
Bitcoin is possibly on the brink of a new bull run, yet a sudden and unshakable correlation with the stock market keeps getting in the way. With a potentially rocky Presidential election ahead and the pandemic still a critical factor, analysts say the stock market is “coiling,” ready to release pent up energy in one direction or the other. The longer this sort of coiling continues for will result in an increasingly powerful move. If […]
Ethereum is on the move again. After spending months consolidating, $ETH has powered back above $2,7K and is flashing signs of serious strength. Analysts believe Ethereum is ‘coiling,’ like a spring building tension before a major breakout. All eyes are now on the $3K level – a major psychological and technical barrier. What’s fueling this […]
Bitcoin has been consolidating since the end of last week after it tagged the 236 handle. BTCUSD rebounded from 236 to about the 255-256 area before stalling. Over the weekend and at the start of the week, we saw the cryptocurrency slide back towards that 236 low, but respecting it as support again. The 1H chart shows the strong rebound from the support area, which sets up a potential double bottom. Bitcoin (BTCUSD) 1H Chart 1/4/2015. In the 1H chart we can see that before a double bottom is complete, price action has some slight bearish bias. Indeed before this possible double bottom,....
Here's a look at what we are focusing on in the bitcoin price this morning. Wow, what a night. We’ve been asking for some volatility in the bitcoin price for the last couple of days, and boy did we get it last night. Things we’re a little flat in to yesterday evening, and we noted in the second analysis of the day that we may see a sharp breakout based on the idea that the flat action heading into the late session was a sort of price coiling. Price coiling is a conceptual way to describe the pressure building between buyers and sellers in the (generally speculative side of the) market, and....