Bitcoin flips the D1 200 MA (BLUE) into support after a re-test this morning, subsequent close above USD 45K The BTC/USD trading pair continues re-testing each previous high after breaking above to confirm it has defected to support. Qluster analysts have mapped the staircase-like market structure below using the D1 BTC/USD chart. Bitcoin, BTC/USD - Daily (D1)...
Bitcoin hovers around the .382 fib retracement zone at USD 37.5K and remains pinned down by some minor sloped resistance. Bitcoin, BTC/USD - 1 Hour (H1) In these scenarios, whenever BTC/USD approaches a key pivot zone and coils tightly under resistance, it is generally safe to anticipate an impulse wave up or down. A bullish impulse would see an...
Overzealous selling at USD 40K resistance without volume, Bitcoin seizes bears by the shorts with a squeeze up to USD 42K. This explosive bounce from USD 29K is sure to impress despairing buyers hoping for a glimmer of respite. However, it is crucial to remain vigilant against the infatuations of optimism - seducing frustrated speculators from the faithful...
Bitcoin continues its consolidation under weekly resistance, USD 41-42K, and must close above the range by Monday 12 AM, UTC. As mentioned earlier, the BTC/USD remains pinned down by the W1 20 EMA (GREEN), and BTC.D was likely to pull back from 49% before continuing higher. Bitcoin, BTC/USD - 1 Day (D1) Bitcoin, BTC/USD - 1 Week (W1) Bitcoin...
Bitcoin tests and consolidates under weekly resistance, USD 41K, and remains pinned down by the W1 20 EMA (GREEN). Bitcoin, BTC/USD - 1 Day (D1) Bitcoin, BTC/USD - 1 Week (W1) Thus, a weekly close above the W1 20 EMA (GREEN) would certainly encourage the bulls to consider another leg higher. Conversely, a weekly close below major resistance and...
Bitcoin made short work of the bears who had been very reluctant to sell today compared to yesterday's efforts. More wick than candle usually doesn’t bode well for bullish sentiment. Bitcoin, BTC/USD - 1 Day (D1) Using the D1 BTC/USD chart above, we can see that today’s daily close at 10 AM, AEST, resulted in an impressive full-bodied candle. Bulls now...
As the Qluster team predicted in Technical Outlook, Edition #62, the Amazon news was fake news. Bitcoin breaks down after Amazon acknowledged that their marketplace would not be accepting the cryptocurrency as a form of digital payment and knocked back any comments regarding their own cryptocurrency. It really was the perfect storm, prime the set-up on the...
Bitcoin consolidates around USD 35K over the weekend, flipping the zone into a support launchpad angled straight for USD 40K. This rally over the weekend cost bears over USD 110 Billion in liquidations after a failed breakdown attempt at USD 29K, shorting major support at USD 29K with dismal volume to accompany the sell-off made for an easy squeeze. Bitcoin,...
Bitcoin makes a break for USD 34K and now looks to re-test USD 32.5K after flipping the resistance zone which must be confirmed as support. Bitcoin, BTC/USD - 4 Hour (H4) This bullish forecast has been mapped above, and buyers await the re-test eagerly after waiting so patiently. A well-timed death punch from our bears down to USD 30K would likely cause...
Bitcoin stalls at key resistance, 32.5K USD, and is now attempting to flip the .618 Fibonacci retracement zone. Bitcoin, BTC/USD - 4 Hour (H4) Using the H4 BTC/USD chart above, we can see that the .618 fib retracement is a very messy pivot zone due to buyers and sellers hedging their bets around the golden ratio. Combined with the horizontal...
Bitcoin flirts with USD 32.5K and remains suppressed by the D1 20 EMA (GREEN) which has been acting as resistance for over two months now. Bitcoin, BTC/USD - 4 Hour (H4) Referencing the D1 BTC/USD chart above we can see two potential paths for Bitcoin to choose, one is bullish while the other is bearish. Now, starting with the bullish expectations first… ...
Bitcoin breaks upwards above the USD 30K level. However, will this be a genuine reversal or just a bearish re-test? Bitcoin sees a bullish reversal after failing to drop below 29K USD and now attempts to flip USD 31K back into support. Bitcoin, BTC/USD - 4 Hour (H4) Put simply; this is the crossroad for Bitcoin, and with good reason. If BTC/USD can...
Selling pressure from the bears proved all too great for our bulls who, after a two-month-long consolidation, are left exhausted and fatigued. Consequently, a daily close below USD 31K had resulted from buyer momentum eroding thereby causing the major support zone to crumble. The bulls, who had been buying around this USD 30K range, are now looking to exit...
Community Consensus: Pick two trading pairs for Qluster to analyse, this week top-voted were both Cardano and Solana. Using the log-scale for altcoin modelling as discussed in Technical Outlook, Edition #52, trend clarity can be further revealed using the logarithmic scale with all available trading data. Cardano, ADA/USDT Log- 1 Week (W1) Cardano...
Bitcoin defends a close below USD 31K and consolidated nicely after three failed attempts from the bears on the H4 BTC/USD chart below. Bitcoin, BTC/USD - 4 Hour (H4) These recent bounces along major local support is a decent sign of life that buyers are still around, however, BTC/USD requires a close above USD 33K before our bulls have any chance of a...
Massive inflows of Bitcoin into exchanges, plus a reduction in buy volume. Is this the recipe for disaster? Bitcoin has been sucking in buyer liquidity around support at USD 30K for over two months now, while selling pressure continued rising, as the bears relentlessly charged for a D1 close below USD 31K repeatedly. Before we break down the technicals, let...
The focus of today’s analysis will be on two assets that have been making waves in the cryptocurrency space. There has been a lot of recent news around these large cryptocurrency projects. Binance Coin Analysis Starting with Binance, they have become a target of global regulators for not meeting compliance standards, losing key funding providers and even...
This evening’s report will be community-focused and analyze the two most voted assets per our subscriber’s request. The two assets with the most votes received are Chainlink ($LINK) and Enjin ($ENJ). In addition, the macrotrend for both altcoins will be mapped using a logarithmic scale instead of our usual linear one. The Logarithmic Scale Logarithmic...