Month: March 2021

Bitcoin bounced off the $52,000 support, we view Bitcoin’s dip below $54,000 as another bullish buy-the-dip opportunity. We may be expecting another leg down in the near term as Bitcoin price is still meeting strong sell pressure near a key trendline.

Bitcoin is very close to new all-time highs once again, but the final hurdle may likely take some time to overcome. However, Bitcoin’s price couldn’t break through this resistance yesterday, which has pushed it back toward its previous range. The local resistance is $60,000-63000, while the support area is at $54,000 to $55,000.

Bitcoin is still holding-on pretty nice as it remains in the range-bound, giving no hint of a deeper reversal and traders are taking this as buying opportunities. The possible consolidation in the near term may last more than expected as Bitcoin fails to recapture its all-time high-$61,825. Traders who were expecting a quick resumption of the uptrend may have been caught off guard by the range-bound movement.

Recent news from the Federal Reserve seems to be boosting enthusiasm, and with stimulus checks hitting as well, there are much of tailwinds to help keep the trend going. Institutional accumulations of more than what is mined every day has led to a higher demand of BTC.

All looking great here, it’s being an impressive turn-out of event for BTC, as the last candle yesterday, moved BTC to an all-time high of $61,950. It’s becoming more exciting, as the next major point of interest is at around $72,000, and this could be reached literally in a few days; only if Bitcoin can hold above few key support levels-$52,500-$56,100.

Bitcoin is showing strength and a new all-time high is on the horizon. BTC takes aim at a new all-time high as traders push BTC back above $57,000 and institutions increase their exposure to cryptocurrency.

Bitcoin’s outlook remains bullish, preparing to challenge the lower high that we marked out last week. As expected, the price has been trading in an equilibrium pattern, and seems to be close to breaking out of it. The illiquid supply of Bitcoin continues to increase, giving us hope for another fantastic rally to all-time highs.

This analysis covers where we stand in the 4-year cycle, as the 4-Year Cycle is really beginning to pay dividends from our hodl & trading positions. When you look at the monthly & quarterly charts, what we see, is a beautiful cycle structure right there, affirming that, we need not to lose our position in this bull market.