Bitcoin (BTC/USD) has temporarily found a Support zone price level above $18,000. If price can hold above the $18,000 for a significant period of time (e.g. weeks and months), then a bull rally reversal could possibly occur. However, if support is broken to the downside, price could continue a price downtrend. Support zone price levels: $18000, $17000, $16000,...
With Bitcoin jumping above 20 000 USD, we again see a rise in bullish ideas all over the place, claiming bottoms, new all-time highs, and even trend reversal in spite of bearish macroeconomic factors. Despite that, however, elevated volatility and wild swings in the price do not concern us. Quite the contrary, they give us confidence as the market sentiment...
Over the past few days, Bitcoin has continued to be choppy, oscillating mainly between 19 000 USD and 20 000 USD. Currently, it trades near the 19 200 USD price tag. We believe the recent volatile movements reflect rising anxiety among market participants. Additionally, lower troughs and lower peaks, constituted since 15th August 2022, suggest the downtrend...
Just hours after our last post, in which we warned about the unsustainability of the up move, Bitcoin erased all of its early gains and retraced below 19 000 USD. This development aligns with what we highlighted as a bear market behavior, characteristic of wild swings from one side to another and market participants trying to fish for a bottom. That and a looming...
During the weekend, the price of Bitcoin traded mainly flat. For that matter, we have no reason to change our bearish bias. Just like over the past months, fundamental factors will continue to slow down the global economy, resulting in the declining economic performance of the stock market and companies slashing their economic projections. In accordance with the...
In our previous idea on Ripple, we stated that it was one of a few cryptocurrencies that failed to reach a new all-time high during the latest bull cycle. Additionally, we expressed our bearish views on it over the coming months, set price targets at 0.30 USD (medium-term) and 0.28 USD (long-term), and presented a conservative setup with two possible scenarios....
Like in the case of Bitcoin, we are also bearish on Ethereum. We will pay close attention to it today as the FED is set to increase interest rates and worsen economic conditions. We expect such action to drag the stock market and cryptocurrencies lower over time. Though we do not rule out an initial bounce up in the price of ETHUSD after the FED decision; however,...
Unsurprisingly, Bitcoin fell below 20 000 USD, confirming our bearish bias. During the week, we will be on high alert as the FED is poised to increase interest rates and worsen economic conditions (and potentially spark another massive selloff). Other fundamental and technical factors also make up for the bearish consensus. Therefore, we have no reason to change...
Today's CPI print in the U.S. spooked the market, affecting Bitcoin, which dropped more than 4% within merely two minutes. The report of higher-than-expected inflation shattered market participants' last hopes for the FED pivot. Currently, the FED is expected to raise interest rates in the range between 75bps to 100bps during its September meeting. However, after...
After yesterday's drop of more than 12%, we continue to maintain a bearish stance on Bitcoin. The latest price action confirmed our bearish thesis as BTCUSD failed to make a new high, and instead, it faltered back below the 20 000 USD price tag. Simultaneously, the CPI print spooked the market leading to a massive selloff in the equity. Previously, we stated that...
Day after day, we tell ourselves that bullish market forecasts are getting increasingly ridiculous. Unfortunately, however, every bounce up in the market seems to produce more irrational thoughts among market participants. We often encounter statements about Bitcoin being headed to 100k USD, 200k USD, 500k USD, or even much higher. The same applies to other...
Yesterday, Bitcoin dropped below the support level at 19 526 USD. Then later, the price continued below 19 000 USD, halting its movement at a low of 18 540 USD. These developments are negative for Bitcoin and further confirm the bearish thesis we laid out in our previous articles. At the same time, there was no significant change in fundamental or technical...
September 2022 brings many exciting events for the stock and cryptocurrency markets alike. However, we will pay close attention mainly to two events in particular. The first event we will pay attention to is the “merge” with the soft deadline on the 19th of September 2022; the merge will see the current execution layer being combined with a new consensus layer. As...
• Symmetrical triangle on daily chart • Breakout could be in either direction • Target distance from breakout point is distance between highest and lowest point in the triangle • 30 in this case (69.86-39.86) • Triangle is shrinking so we are close to breakout • Scenario 1: bearish breakout around 50 +/-, target is 20 +/- • Scenario 2: bullish breakout around 60...
Happy midweek, As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used in support other indicators that we developed and released Open Source, you can find them at the end of the analysis. Trend: Kumo has been consistently red for 12 days and...
In our previous article, we dismissed nonsense about the “uber” bullish effect of the Merge on Ethereum. However, we also stated that we would not rule out a temporary bounce in the price while expecting it to have little to no effect on the overall trend direction. Today, we again stick to this narrative and remain bearish on ETHUSD. We have no reason to change...
DXY RETURNS TO WHERE IT STARTED THE JOURNEY. 2000 TO 2023 MONTHLY LOOK. Is There a Buy-and-Hold Strategy in Forex? While currencies rarely rally against one another in the same sense that stocks do, there are viable reasons for experienced traders to engage in buy-and-hold strategies in forex trading. Traders who understand the long-term economic trends in one...
Bitcoin bulls may have to wait until 2024 for next BTC price rocket stage