Bitcoin and the rest of the crypto market is still looking heavy this week with no definitive sign of a bottom. Short term BTC support is currently being found at $40k and a bounce here could set up a potential bigger picture head and shoulder top. Location is good for a bottom and a
Happy New Year! Bitcoin is starting the year off still looking a little heavy and hasn’t quite found a bottom yet after being stuck in a downtrend for almost two months since making a new all time high in November. The 200 period moving average is still the key level for me to watch
Bitcoin is still in a downtrend and has continued to bounce around the 200 period moving average for the last week. There’s been no clear sign of a bullish reversal yet but this down move is getting a little drawn out and I think it’s due for a bounce. I’m patiently waiting for bullish
“Ah. I just got stopped out on my trade. Oh well, it happens. I ‘felt’ the market going against me as soon as I took the trade. I should have stopped it then. I wish I thought about it more. Maybe I should have trusted my instinct rather than my stop loss. Why do
BTC underwent a strong sell off last Friday and Saturday after several days of being unable to break out of it’s downtrend line. Overleveraged longs were surely liquidated, triggering a deep panic sell off that even got down to the 42k area before subsiding. Today we’re sitting around $49k with a dead cat bounce
BTC price is pretty close to where we started last Monday which I find funny because it was actually a pretty volatile week with Bitcoin running up on Thanksgiving only to dump the next day as deep as $53.6k. In came a bullish inside bar after that and here we are on the 3rd
When I said that there were signs of weakness showing in the BTC chart last Monday, I thought that was a pretty reasonable take but didn’t necessarily think price would nuke practically right after I finished writing my post. Nonetheless that’s what happened and I was happy to at least be thinking in the right
Bitcoin was in the process of breaking to a new high when I wrote last week’s analysis. That turned out to be the most exciting price action as not a lot happened over the next seven days. Today has started off a down day about -2% and price is sitting at $64k after several days
Bitcoin Analysis: Week of November 1, 2021 Last week we talked about Bitcoin looking a bit overbought but not having broken down yet. I noted that shorts were off the table for me and while some aggressive traders probably got short term setups coming in, price chopped sideways throughout the week and we’re sitting in
Bitcoin had a strong start to the week as it caught a pretty significant bounce up to $63,700 after selling off below 60k over the weekend. The rally was fueled in part by the bullish news that Mastercard partnered with Bakkt to allow its merchants to offer crypto services to their customers. Bakkt (NYSE:BKKT) stock
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