Bitcoin Price Analysis: Weak Retest Hints Toward Bearish Exhaustion

Bitcoin Price Analysis: Weak Retest Hints Toward Bearish Exhaustion 1

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Summary:

  1. Bitcoin’s weekly close last night marked a failed, bearish effort to push the price to new lows but the weekly/monthly support outlined at $9,300 held really nicely.
  2. We are currently experiencing a market retest of the shakeout swing low occurring on low volume and low spread, and it is displaying signs of bearish exhaustion for the time being.
  3. If we manage to break support, we can expect to see a test of the low $8,000s.  However, if we hold support, I would really like to see the market rally from the lows on high spread and high volume. If we manage to close our monthly candle above $10,000, it will be a very strong sign of bullish control on a macro time frame.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This price analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

Bitcoin Price Analysis: Weak Retest Hints Toward Bearish Exhaustion 2
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bitcoin
Bitcoin (BTC) $ 42,557.00
ethereum
Ethereum (ETH) $ 2,944.80
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.13
binance-coin
Binance Coin (BNB) $ 363.63
xrp
XRP (XRP) $ 0.946261
solana
Solana (SOL) $ 136.79
polkadot
Polkadot (DOT) $ 29.79
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.211945
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,557.00
ethereumEthereum (ETH)
$ 2,944.80
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 529.44
litecoinLitecoin (LTC)
$ 157.03
bitcoinBitcoin (BTC)
36.342,61
ethereumEthereum (ETH)
2.514,79
tetherTether (USDT)
0,853975
bitcoin-cashBitcoin Cash (BCH)
452,13
litecoinLitecoin (LTC)
134,10
bitcoinBitcoin (BTC)
31,117.89
ethereumEthereum (ETH)
2,153.25
tetherTether (USDT)
0.731205
bitcoin-cashBitcoin Cash (BCH)
387.13
litecoinLitecoin (LTC)
114.82

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,610 0.09 % 0.23 % 9.60 %
Ethereum2,952.7 0.53 % 2.01 % 13.80 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.140 0.63 % 0.63 % 10.89 %
Binance Coin365.31 0.36 % 0.96 % 11.82 %
XRP0.9502 1.84 % 2.48 % 13.33 %
Solana138.17 4.95 % 0.14 % 12.20 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.04 % 0.08 % 0.19 %
Dogecoin0.2125 0.27 % 0.20 % 11.86 %

bitcoin
Bitcoin (BTC) $ 42,557.00
ethereum
Ethereum (ETH) $ 2,944.80
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.13
binance-coin
Binance Coin (BNB) $ 363.63
xrp
XRP (XRP) $ 0.946261
solana
Solana (SOL) $ 136.79
polkadot
Polkadot (DOT) $ 29.79
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.211945