Just look at the BTC's fluctuations since June 14th until today. 12k to 16k CAD up and downs, though the range has been good for day traders, but it is a bit boring for investors and long term traders.
Well, in my opinion, that's about ending soon!
This chart shows in the first week of September, BTC should choose whether to start a new bull run, or complete...
No fancy analysis here, just a general observation of the strong support zones cryptos have been unable to break down in recent months. Here the BTC/CAD chart from Kraken, showing many long candle wicks dipping down below 8000 and being quickly bought up. Other BTC charts have a similar look.
For longer term HODL positions, I'm accumulating now.
BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done.
Many if you probably bought some BTC between 9500 and 9600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price.
If you have been patiently waiting for...
BTC has been following a pretty clear H&S pattern on the USD/BTC pair. Its a little less clear on the CDN chart due to lower volumes. One of the challenges in trading CAD/BTC is having enough volume to execute your trades.
I haven't seen much CAD analysis - give me a like if you care about CAD.
We are going down the right side of the H&S - we may drop below...
I noticed today nobody has been charting the BTC/CAD pair regularly.
The problem with the BTC/CAD pair is that it doesnt "convert" perfectly from USD to CAD and depending on the exchange you are using you might experience volume problems when buying or selling.
That being said we are looking at a play of about $1000 CAD. BTC is set to slide to around the...