Bitcoin is edging up, but is still bounded by $22K or so. We have a strong level at $22.4K, but we can't even muster the strength to test this. We did see strong support around $20K, so it does not seem like BTC is weak enough to test the $18K's or $19K's and establish the range we held when we tested lows. However, the Kovach OBV is still bearish, so we have a...
BingX’s Bitcoin Chart According to The Block, as of August 24, the NFT marketplace volume for the month was $369.53 million, compared with $675.43 million in July — a roughly 46% decline. Bitcoin price is almost flat over the past 24 hours. The largest cryptocurrency has been trading in a tight range between $20,800 and $21,500 since 19 Aug, indicating the...
Litecoin has found support in the low $50's and pivoted back up past $55.84. We are currently finding great support here, but facing resistance immediately above at about $58 or so. If we can break out then $61.75 is the next target. If we reject current levels then $51.92 and $50.64 should provide support.
Ethereum found support at $1547, as we anticipated. We saw a lot of green triangles from the KRI on this level, confirming support. Subsequently, we pivoted back to the $1600's where we first saw resistance from $1653. There is a cluster of levels above that should provide resistance, and we are currently in the thicket of them. These start at $1694 and end at...
Bitcoin is edging up forming a bull wedge pattern with an upper bound of $21.7K. We are seeing lots of red triangles on the KRI to confirm resistance, but if we can break through the next target is $22.4K. The Kovach OBV is pretty flaccid if not slightly bearish, so there is a slight bear divergence. We should have support at $20.7K, but if not there is a...
BingX’s Bitcoin Chart According to the OKLink data, Ethereum miner addresses have transferred more than 317,000 ETH since August. Bitcoin is up 1% over the last 24 hours and rose to an intraday high of $21,900.00. The largest cryptocurrency has been trading in a tight range between $20,800 and $21,500 since 19 Aug, indicating the demand dries up at higher...
Litecoin appeared to making an attempt to regain the $60's, but has fallen short around $58, just above our level at $55.84. We are seeing strong resistance confirmed by red triangles on the KRI, but if we can break through then $61.75 should be the next target. If $55.84 does not hold, then we should see support from the low $50's at $51.92 and $50.64 in particular.
Ethereum has found support, bouncing off our level at $1547. We saw mounting support from green triangles on the KRI, but the $1600's are proving tough to break through. Our level at $1653 seems to be a barrier for now. Recall that this is the beginning of a cluster of levels which extend through the mid $1700's. We will need some strong buying momentum to...
Litecoin found support in the low $50's and subsequently pivoted, making a concerted attempt at higher levels. Currently, we are contending with $55.84, seeing strong resistance from multiple red triangles on the KRI. If we can break past this, then the next target is $61.75, if we can cross the vacuum zone above. If not, then we should see further support in...
Ethereum has held its ground, finding support at $1547, as anticipated. Support is confirmed by multiple green triangles on the KRI. The Kovach OBV is still quite bearish, but does appear to be attempting to level off as the bleeding eases. A strong US dollar and hawkish Fed outlook should continue to weigh on crypto, but if the $1500's can hold, then $1653 is...
Bitcoin has found support at $20.7K, confirmed by multiple green triangles on the KRI, despite an increase in the strength of the US dollar. The Kovach OBV is still bearish however, and if support caves, we will return to the value area between $18.6K and $20.7K. If we are able to pivot then the next target is $23.9K. But we are seeing strong resistance in...
BingX’s Bitcoin Chart According to CoinShare, Digital asset investment products saw minor outflows last week totalling US$9m last week with volumes at US$1bn, 55% off the year average and the 2nd lowest this year. Bitcoin price is almost flat over the past 24 hours. The relative strength index (RSI) is near the oversold zone, indicating that the bears have a...
Litecoin has fallen, giving up the $60's, but finding support in the $50's. We are currently finding support at the base of the $50 handle, with two strong levels at $51.92 and $50.64. These are likely to hold as a floor price for now, but if we break down further, then $45.48 is the next target. If we can pivot, then $55.84 is the next target above, which we...
Ethereum has tumbled with the rest of the crypto market. We have blasted through a cluster of strong support levels in the $1700's and $1600's. The last of these levels at $1653 did little to provide support. We are currently testing the next level below that at $1547. We are currently seeing support there confirmed by green triangles on the KRI. If we fall...
Strength in the US dollar and more hawkish Fed outlook has impacted the crypto market. Bitcoin has plummeted from relative highs around $25K back to support at $20.7K. We are currently seeing strong support at this level confirmed by green triangles on the KRI. But we are unable to muster the strength for a pivot at this time. If we do, then $23.9K is the next...
We're a couple weeks away in to seeing if we will break out of our sloping resistance we've formed since November 10th which officially marked the top of the bull market and start of the bear market. Ideally we would want to be holding above $24,000 to continue the uptrend we started since June 18th. If we can not successfully break out of this downtrend there's a...
Technical Analysis and Outlook: The Bitcoin penetrated our Mean Sup of $22,575 and settled at a Mean Sup of $20,780. The rebound to Mean Res $24,450 is possible. The primary destination level to Key Sup 18,900 and Completed Outer Coin Dip $18,665 is in the process.
If price trades above the 1600 level we buy If price trades below 1600 level we sell