Despite all the negativity over Bitcoin, the largest cryptocurrency has simply retraced the speculative move from November 2017 onwards.
The price action over the last few years is still impressive. As with all markets, the bearishness has spooked many weak hands and has set the stage for a short-squeeze.
Note the doji on the trendline which is likely the low.
EUR/USD has seen a small bounce on the monthly but is below support-turned-resistance. Some overhead resistance above but the story of 2019 will likely be a test of 1.05 once more.
Too many problems stacking up for the Euro and the U.S. will continue to outperfrom, especially with interest rates. ECB "can't raise, won't raise" and may even go to negative rates...
Bitcoin Cash (BCH) rallied last week on news of a Bitmain IPO. BCH is also undervalued relative to BTC.
The levels of $640 and $710 are key. Above these will target $1,500.
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Bitcoin is consolidating this week's gains and is ready for a push to the next resistance level around $7700.
The lower support line is a monthly level and a close above this for July would be a bullish signal. We have seen bullish activity in weekend trading over the last month and this should see us test the resistance by Monday.
Bitcoin has been consolidating the week's gains around the current level and the price action suggests a short pause before we attack the next resistance level near $7700.
The lower horizontal line is a strong monthly support level which would be a bullish signal if we can close above there in July. Weekend trading has seen bullish activity over recent weeks and...
Ethereum is trading inside a tight price channel and needs to breakout for further gains. Volume is holding steady and ETH is better supported than many coins.
The weakness this week in Bitcoin is setting up a potential engulfing bar for the week. Very early days though. I have been outlining a potential turning point in the week of 23rd July. This could be a turn up from further lows, or a pause/key continuation bar if we rally into that week.
Still neutral on Bitcoin. Chance of going lower but price still holds the...
EOS broke lower from a previous trend channel and moved through the psychological $10.00 level. Following a weak bounce over the last two weeks, price has moved lower on recent negative sentiment. The 50 moving average and the uptrend from October 2017 are very close and may act as a magnet for price in the near-term with larger support at $6.00. The price has...
