Technical Analysis

Bitcoin price has been treading water, unable to break out of its recent trading range. Inexperienced investors grow impatient and make mistakes trying to force a move. Patience is key. This is the time to learn.

Weekly View

Horizontal Levels & Moving Average

Bitcoin is still moving in a tight range, with very low volatility. After Price crossed the 21 EMA to the downside, it tested it and failed and still moving above the horizontal support line.

21 Weekly Exponential Moving Average

Bitcoin has crossed into dangerous territory, dropping below the crucial 21 week moving average. This key indicator separates bull markets from bear trends. With prices rejected below this metric, Bitcoin struggles to make headway. Historically, extended periods below the 21 weekly MA indicate rough terrain ahead.

200 Weekly Simple Moving Average

The 200 Weekly Simple Moving Average has historically acted as support for Bitcoin prices, and as a potential rebound zone for all bear markets. This level was broken for the first time this bear market, followed by a false breakout to the upside. Price action has been chopping around the 200 Weekly Simple Moving Average. A confirmed and consistent breakout above this moving Average is a key indicator for the end of the bear market phase, and the start of a new cycle.

Daily View

Death Cross Formation

Bitcoin's 50 day moving average crosses below the 200 day MA. This ominous technical formation, the death cross is a moment to be attention to, but but historically hasn't always been a cause for alarm. The crossing of these key MAs alone is not necessarily your cue to sell or go short. Nor is it the sign of a protracted bear market.

Market Statistics

Bitcoin Market Cap

Bitcoin Dominance

Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.