We are nearing a breakout moment of a mid/long term bullish triangle/pennant pattern. Keep an eye out for breakouts! Previous highs (both strong and weak ones) at around 11k, 11k3, 12k4, 13k, 13k2 and 13k9 need to be broken for the potential of longer term bullish moves.
Historically, however, bitcoin has had a tendency to break towards the downside from such...
We seem to be in an accumulation phase on our way to 10k and still in an ascending triangle. I would say a breakout towards 10k+ or maybe be even right at the 10k is more likely than drop downwards. Next resistance after 10k is at 11k8. If we drop we might find support at 8k5 and 7k4. Watch for breakouts!
New year and new dark, easier on the eyes, color-scheme.
After some drops we're still seeing a lot of sideway action at these lowest levels. A new breakout situation might be ahead. Bullish reversals can only be confirmed when the 4k4 and 5k levels will be broken. However, we can also fall back to 3k1-3k levels and possible further down towards 2k7-2k5 levels....
A falling wedge seems to be forming in the prevailing downtrend, which gives the bullish signal that we might be in for a reversal. A bullish breakout would only be confirmed when it takes the price to above 3k6 level.
In case of an unlikely bearish breakout of the wedge to the downside, beware of a potential bear trap. Next stop in the way down would be around 2k7.
So, we're definitely NOT going sideways anymore :')
The whole Bitcoin Cash fiasco and the overly hyped Bakkt postponing their Bitcoin-backed Futures release date to January 24th, which reeks of massive market manipulation! To me it seems that big money is pushing the prices lower as to buy in cheap. Bakkt as well can stockpile their Bitcoin reserves to back...
Still going sideways. The cryptocurrency market almost seems to be more stable than the traditional markets these days. A breakout still seems to be imminent.
Breakouts well above 6k5 to 6k7 levels (along the wedge pattern) would definitely be bullish sign. However, that move would still need to be confirmed by a higher high around 8k2, before it can be...
The sideway movement should soon be coming to an end. A breakout is imminent, but in which direction will it be?
Breakouts well above 6k9 to 6k7 levels (along the wedge pattern) would definitely be bullish sign. However, that move would still need to be confirmed by a higher high around 8k2, before it can be considered a move into a bull market.
On the other...
Still consolidating. Bullish news and sentiments are accumulating, but still no signs that we're leaving the bearish market. Watch for breakouts! A breakout above 7k2 level would be a good first indicator of a bullish move in the market. However, that move would then need to be confirmed by a higher high around 8k2 and no new lower lows.
After seeing no significant bearish moves after the ETF rejections today by the SEC and some short-squeeze manipulation that also seemed to have failed yesterday, it seems like most (remaining) players in the market are in it for the long haul and are not that much influenced by FUD or FOMO.
I personally feel like we pretty much reached the bottom. There might...
Still expect some downward movement to 7k/6k levels, after that some side-way movements or a slight uptrend as people might be buying into the bullish rumors of a potential ETF license for the CBOE on August 16.
Hard to predict anything, but again, we might still have some way down to go.
- More Mt. Gox sell-offs seem to be suspended for the time being.
- Binance successfully and properly dealt with the phising-attack using their user's API-keys. No funds were lost and illegitimate trades were reversed.
- SEC requiring Registration for US Cryptocurrency...
- Trends show we are reaching an oversold situation
- Segwit adoption reached 30% and Lightning Network shows growth
- SEC requiring Registration for US Cryptocurrency Exchanges
- Uncertainty due to Tokyo Mt. Gox trustee whale
- Ongoing uncertainties regarding Tether
Hard to predict anything, but we might still have some way down to go.