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Technical Analysis
Technical analysis is a widely used methodology in the world of cryptocurrencies, encompassing the evaluation of various factors to predict price movements and make informed investment decisions. It involves analyzing historical price data, trading volume, and market trends to identify patterns and trends that may repeat in the future. By utilizing statistical tools and chart patterns, technical analysis aims to provide insights into potential price direction and timing. For individuals involved in the crypto space, technical analysis serves as a valuable tool to understand market sentiment and make informed trading decisions. Companies and protocols within the blockchain networks also employ technical analysis to assess market conditions and optimize their strategies. Moreover, crypto exchanges utilize technical analysis to provide users with comprehensive trading tools and indicators, enabling them to make data-driven decisions.
Bitcoin Held Support at $53K, Faces Initial Resistance Around $60K
Initial signs of downside exhaustion could stabilize the intermediate-term uptrend from July.
Bitcoin Holds Support at $56K, Resistance at $60K-$63K
Momentum is improving as oversold readings appear on the chart.
Bitcoin Still Trading in Bullish Channel Despite Price Support Break
Powell’s reappointment as Fed’s chairman has reinforced fears of faster rate hikes to control inflation
Bitcoin Struggles at $60K Resistance; Support Above $53K
Short-term downside is likely into the Asia trading day.
Bitcoin Long-Term Uptrend Intact; Support Around $53K-$56K
Momentum is still positive on a weekly basis, which is consistent with a bullish uptrend.
Bitcoin Tumbles to 3-Week Low Under $60K; Next Support at $53K
Market retreat comes as bitcoin’s daily price chart signals slowing upside momentum. The ether price fell below $4,000.
Bitcoin Holding Support at $60K; Could Face Resistance at $63K-$65K
The long-term uptrend remains intact despite slowing price momentum.
Bitcoin Stabilizes Near $60K Support; Faces Resistance at $63K-65K
Short-term indicators suggest limited downside into Asian trading hours.
Bitcoin Pullback Could Stabilize Around $60K Support
Upside momentum is slowing, although pullbacks remain limited.
Bitcoin’s Bull Flag Breakout Suggests More Upside; Support at $57K
The cryptocurrency could break the six-figure mark in Q4, one firm said.
