Bitcoin Analysis – 14th September

Since last week's analysis, Bitcoin has been traded in a range between $9,800 and $10,500. People are unsure about the next direction the price will take, but it seems to take time. In this article, we will give you an overview of the Technical Analysis that can be done on Bitcoin, so you can have a better idea of where to position yourself on the market.
BTC technical Analysis

Bitcoin Weekly Analysis – 14th September

Since last week’s analysis, Bitcoin has been traded in a range between $9,800 and $10,500. People are unsure about the next direction the price will take, but it seems to take time.

In this article, we will give you an overview of Technical Analysis that can be done on Bitcoin, so you can have a better idea where to position yourself on the market.

Bitcoin Weekly Chart Analysis

Bitcoin Price Technical Analysis Weekly
Bitcoin Weekly Chart on TradingView

The tools used for this analysis are the following:

  • Support and Resistance Levels
  • RSI
  • Bollinger Bands

You can learn more about how to use those indicators in this Guide.

As expected last week, the green zone acted as a support. Despite the multiple attempts to break down, BTC remained strong and closed its weekly candle with a bullish hammer.

Bullish Hammer Technical Analysis

If you observe the Bollinger Bands, you can notice that the upper line has rejected BTC, and it is currently above the medium band, acting as a support.

Last but not least, RSI is still above 50 and not showing any signs of weakness.

This weekly chart shows strength until it’s above the green level. As anticipated, this level should be holding.

However, if it starts breaking down, the best move should be to exit the BTC market until it shows any signs of reversal.

 

Learn Trading with Nova Blocks

cover BC 2 768x1027 1

Learn More

Bitcoin Daily Chart Analysis

BTC D 1
Bitcoin Daily Chart on TradingView

The tools used for this analysis are the following:

  • Support and Resistance Levels
  • EMA 200
  • RSI and divergences
  • VPVR

Not much as been evolving in this chart since last week’s analysis. This chart still shows the strength of BTC in the green area.

The Volume Profile (VPVR) indicates an HVN (High Volume Node) just below the CME gap. If BTC decides to go down to this level, this would be the last area where I would add to my BTC longs. Under this level, I would consider BTC bearish.

Bitcoin Hourly Chart Analysis

Bitcoin Price Technical Analysis hourly
Bitcoin H1 Chart on TradingView

The tools used for this analysis are the following:

  • Support and Resistance Levels
  • Volume
  • Patterns

Today we will analyze the H1 chart which is displaying more information than the usual H4 Chart.

As you can notice, the local resistance here is at 10590. Breaking with volume this level would lead us to a retest of $11.100, the old broken level of support.

The Chart shows here the classic Cup & Handle pattern. This pattern is easy to recognize with the peak of volume in the middle of the pattern, and the handle showing a rising volume.

Cup & Handle Technical Analysis

Along with the Volume, the break out of this pattern is bullish and confirms our previous expectations of the $11,100 retest. However, be careful not longing into a resistance and wait for the confirmed break-out before expecting any bullish move.

Complete Trading Guide


Notice: Undefined index: thumb in /home/441913.cloudwaysapps.com/yxckxvgnmp/public_html/wp-content/plugins/edubin-core/widgets/latest_post_widget.php on line 99
Recent Posts
Subscribe to the newsletter

Share this article on your social networks:

Share on twitter
Share on telegram
Share on facebook
Share on linkedin
Share on email

The information above contains information on the cryptocurrency market, which is associated with high risks. These materials are presented for informational purposes only and in no way should be construed as a recommendation for the purchase or sale of the assets. Any person considering trading digital assets should seek independent advice on the suitability of any particular digital asset.

Recent Posts

AllBlockchain & CryptocurrenciesTrading
Ethereum ETH explained

Ethereum (ETH) Explained

October 27, 2020

The Ethereum is a network of open and decentralized blockchains that also...

Read More
Bitcoin Explained

Bitcoin (BTC) Explained

October 27, 2020

Bitcoin is a money transfer system invented in 2009. Through a peer...

Read More
Tether USDT Tutorial

Tether (USDT) Explained

October 27, 2020

Tether (USDT) is not much different than with any other cryptocurrencies. So...

Read More
Bitcoin Technical Analysis

Bitcoin Technical Analysis – 26th October

October 26, 2020

Bitcoin broke the $13,000 level last week and is currently consolidating above...

Read More
Non-fungible tokens NFT

Non-Fungible Tokens (NFTs): A Beginner’s Guide

October 22, 2020

Non-fungible tokens (NFT) are heating up in recent times, and there’s a...

Read More
Bitcoin Technical Analysis BTC

Bitcoin Technical Analysis – 12th October

October 12, 2020

Since last week's analysis, Bitcoin broke its boring range and came back...

Read More

Receive a digest of Crypto Analysis, News & Articles every week

Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, analysis, courses, reviews and more!