Bitcoin Holds Key Support Amid Gravestone Doji – $120,000 Hangs In Balance
In his latest daily technical outlook, Cryptowzrd highlighted that Bitcoin closed the day with a gravestone doji, while holding above a critical level. According to the analysis, more bullish candles are needed to sustain momentum and push the price toward the $120,000 resistance, especially as the market contends with ongoing fundamental pressures. Fundamentals Support Bitcoin Despite Weak NFP Print Cryptowzrd highlighted that the daily candle of Bitcoin closed indecisively, signaling uncertainty as the market evaluates its next move. Despite this indecision, BTC remains above the crucial....
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BTC is more than 50% down from its $69,000 all-time high and traders seem to have no clue about the digital asset’s next direction. It is not too late for Bitcoin (BTC) to reclaim its bullish bias as it halfway paints an indecisive 'Doji' candle on the weekly chart.In detail, Bitcoin's price correction this week to below $33,000 had it form a lower wick, suggesting that bulls bought the dip. A sharp retracement ensued and took BTC price to as high as $38,960 on Jan. 27. However, the bulls failed to hold the said week-to-date top for too long, resulting in another wick, but also pointing to....
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Bitcoin price is now up $6,000 from yesterday’s low in a flash. A long wick below support is now left behind, forming a Japanese candlestick formation called a dragonfly doji. With a large follow through by crypto bulls already, a daily close above $36,000 could leave a reversal pattern behind on the charts. But to […]
Darkcoin price increased yesterday after testing the 50% Fibonacci retracement level at 0.010844 BTC which continued to prove to be a strong support level throughout the past few days. By studying the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com and plotting the 10 day EMA (green curve) and the 20 day EMA (orange curve) (look at the below chart), we can conclude the following: DRK price increased to around 0.01207 yesterday and it almost touched the 62% Fibonacci retracement level at 0.012102 BTC which resisted further advance. The "gravestone" doji" (look at the candlestick....