Bitcoin to retest 9550 area before breaking 13000. 11750-12250 is a strong Resistance Zone. Upward momentum can sustain only if H4 13 WMA breaks the RED Zone and Red Line.
Intro: Bitcoin is still unable to break out major resistance which would open a strong recovery. Buy above 11704. Stop loss at 10972. Take profit at 13030. Reason for the trading strategy (fundamentally): There has not been any significant news in the bitcoin industry recently which has led to prices stagnating. The biggest drivers, if any, have been largely...
Bitcoin is seeing major resistance at 11694 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) which needs to be broken to open a potential rise to 12985 resistance (Fibonacci retracement, horizontal overlap resistance). It’s important to note that we’ve seen a bullish exit of our long term descending resistance-turned-support line too...
Intro: Bitcoin is seeing major resistance which would open a big rise once it is broken. Buy above 11704. Stop loss at 10972. Take profit at 13030. Reason for the trading strategy (fundamentally): The big good news surrounding bitcoin is Liechtenstein-based family bank, Bank Frick, has become one of the first banks in the world that allows clients to directly...
Intro: Bitcoin is once again approaching strong resistance. Good opportunity to sell. Sell below 11194. Stop loss at 11548. Take profit at 10397. Reason for the trading strategy (fundamentally): We’re seeing some mixed news on cryptocurrencies so far with Singapore’s MAS weighing the need to introduce new rules to protect cryptocurrency investors. This signals...
Bitcoin has reacted nicely from our major resistance level at 10913 (Fibonacci retracement, horizontal swing high resistance, descending resistance, ichimoku cloud resistance) and is dropping nicely towards our major support at 9179 (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 93% where a corresponding...
Intro: Bitcoin has dropped as expected and is fast approaching strong support where a bounce is likely to occur. Buy above 9877. Stop loss at 9616. Take profit at 10397. Reason for the trading strategy (fundamentally): We have had mixed news on the cryptocurrency front recently with the Lithuania Banking Association warns its residents over crypto investments...
Bitcoin is testing major resistance at 10913 (descending resistance line, horizontal swing high resistance, bearish Ichimoku cloud) and a strong reaction could occur from this level to push price down towards 9179 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 93% where a corresponding reaction...
Intro: Bitcoin is reversing nicely below our resistance, potential for a big drop. Sell below 10826. Stop loss at 10991. Take profit at 8909. Reason for the trading strategy (fundamentally): There has been more positive news surrounding cryptocurrencies recently with Venezuela president saying the government has received more than 171,000 certified purchase...
Intro: Bitcoin is just about to reach a strong resistance level, good opportunity to short. Sell below 10520. Stop loss at 10991. Take profit at 8909. Reason for the trading strategy (fundamentally): The major news announcement surrounding bitcoin would be the release of the much-anticipated version 0.16.0 Bitcoin Core which has added full support for...
Intro: Bitcoin has continued to drop nicely towards our profit target, we still expect further bearish pressure albeit quite limited. Sell below 9852. Stop loss at 10550. Take profit at 8909. Reason for the trading strategy (fundamentally): The big news surrounding cryptocurrency recently is from Bank of America’s annual report. It has expressed particular...
Bitcoin is dropping really strongly and is approaching major support at 9109 (Multiple Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 11772 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support at 7.2% and...
Intro: Bitcoin has broke our major support line triggering our bearish move yesterday. We tighten our stop loss to protect our profits while riding this move down. Sell below 10356. Stop loss at 11015. Take profit at 8909. Reason for the trading strategy (fundamentally): The big news today is the L’Authorite Des Marches Financiers (AMF), which is France’s...
Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good...
Intro: Bitcoin has broken its ascending support but requires one more major support to be broken to trigger a sell off. Sell below 10356. Stop loss at 11300. Take profit at 8909. Reason for the trading strategy (fundamentally): One of the latest news surrounding cryptocurrency is what Venezuelans are saying about their new national cryptocurrency, Petro. This...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...