Over the past month, Bitcoin lost much of its bearish momentum; indeed, it became stuck within the wide range, oscillating from one side to another. Because of the trend turning neutral we were forced to abandon our price targets for the 2nd time. Currently, we stay out of the market and decide to observe it for a while before running to new conclusions. However,...
We maintain a bearish outlook on Ethereum. Accordingly, we also maintain our price targets of 900 USD and 800 USD. We have no reason to change our bias due to persistence of bearish fundamental and technical factors, which we detailed in our previous posts on ETHUSD. Illustration 1.01 The picture above shows the weekly chart of ETHUSD. Two moving averages,...
Persistence of bearish fundamental factors continues to support our bearish view on the cryptocurrency market. We expect more rate hikes (by the FED) and economic tightening to bolster the selloff in the general stock market. Subsequently, we expect that to drag the price of Bitcoin to new lows. The same picture is painted by technical factors, which point to more...
Since the last Friday, Bitcoin rose about 600 USD to approximately 20 200 USD, where it currently trades. Nevertheless, we maintain a grim view of Bitcoin, mainly due to the persistence of bearish fundamental and technical factors. Accordingly, we stick to our price targets at 17 500 USD and 15 000 USD. Although, we would like to acknowledge that Bitcoin might...
Overnight, we saw a short-lived bounce in the price of Bitcoin to 20 895.08 USD. Within a few hours, BTCUSD gave up most of its early gains and plunged below 19 500 USD, where it currently trades. We continue to be bearish on BTCUSD. Accordingly, we maintain our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 The picture shows an overnight...
Yesterday, we changed our short-term bias back to bearish from neutral/slightly bullish. Additionally, we set new price targets at 17 500 USD and 15 000 USD, representing approximately an 11% and 24% decline from the current price level. Our bearish medium-term and long-term view is based mainly on fundamental factors like higher interest rates and economic...
Bitcoin's bear market rally shows the first signs of weakness and exhaustion. We still pay close attention to 20-day and 50-day SMAs; in the short-term, BTCUSD may attempt to retrace toward these levels (before breaking down and revisiting lows). Accordingly, we remain neutral/slightly bullish in the short-term. However, in the long-term, we remain bearish....
After hitting a low near 17 500 USD and reversing back above 21 000 USD, Bitcoin has been trading mostly sideways. So far, it has failed to move above the 22 000 USD price tag, which hints at a loss of momentum within the bear market rally. Despite that, we remain neutral and abstain from setting a price target for BTCUSD. However, we are growing inclined toward...
The FED raised interest rates by 75bps yesterday. Despite that, the stock market rose by 3%, providing a temporary lifeline for cryptocurrencies. We view economic tightening and higher interest rates as negative for the U.S. economy and Bitcoin. That is due to the high correlation between these pairs exhibit. Thus, our price targets are 20 000 USD and 17 500 USD....
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Our latest post hinted at similarities between the structures of Bitcoin and Ethereum. We warned that Bitcoin was likely to follow the Ethereum's breakout below the support, which occurred a few hours later, and Bitcoin made a low at 28 003 USD. Then Bitcoin reversed back into the neutral zone and continued to climb higher over the weekend. Currently, BTCUSD...
Over the past two weeks, we have continued to warn investors about the false rally, which seems to have started losing momentum. Yesterday, we warned that the correction in ETHUSD was nearing its end; then, a few hours later, ETHUSD fell approximately 10%. At the moment, we notice a similar pattern playing out in Bitcoin. Therefore, we would like to voice caution...
Yesterday, we warned that the (irrational) bullish exuberance among retail investors foreshadows more pain for the price of Bitcoin. Shortly after that, Bitcoin invalidated its bullish breakout for the third time and started to fall. Finally, after erasing more than 7%, Bitcoin halted its decline at 29 309.84 USD. Since then, BTCUSD has been mainly trading...
Bitcoin had struggled around the 30 000 USD price tag over the past two weeks when low volumes proved insufficient to propel Bitcoin higher. After several false breakouts above the short-term resistance, Bitcoin always erased its profits immediately. Currently, BTCUSD trades slightly below 30 000 USD. We continue to be bearish on it as we expect economic...
*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management My team purchased shares of digital mining bitcoin company CleanSpark $CLSK...
Possible buy opportunity & then sell Down movement will invalidate it.
Over the past week, Bitcoin mainly traded between 28 600 USD and 31 411 USD, resulting in the creation of the rectangle pattern. That suggests that the trend is turning neutral in the short-term. At the same time, the daily time frame shows bullish technical developments, implying more upside for Bitcoin in the short term. We will pay close attention to the upper...
At support Luna had to already react, make retests and hold the support levels whether in sideways direction or V shape recovery. There are no signs of this. This is the Cryptocurrency's END.