BTC has been winding tighter in this coiling pattern for the past few weeks. Right now, it could go lower or higher, depending on who wants to win this battle. Examining the Bitcoin Dominance chart shows that money has been moving into altcoins today with cryptos like ETH and ADA showing nice percentage gains. This really...
It looks like BTC.D stalled near trendline resistance and is now pulling back into the BTC having. This price action is letting altcoins dominate and move higher. Symbols like BAT, NEO and LINK are moving higher. I'm watching for this trend to continue.
BTC has been slowly creating a high-level consolidation base at its current level just below 9000. It's been about seven days since the last major green candle, which means it's about time to bust up once again, especially after the recent retest near 8500.
It looks like BTC is consolidating in this upper range before taking its next leg up. The 20 day-moving average has bullishly crossed over the 50-day moving average, and BTC is holding steady above this important indicator.
BTC stalled at its 50-day moving average near 7400. This pullback is healthy and was needed as long as it doesn't go too far. Using a stop under 6800 will protect gains. It would be great if BTC could do some consolidation in this area, which I think is possible before moving higher.
Bitcoin has been climbing a wall of worry throughout March and early April. Stalling at its 50-day moving average makes sense as it's becoming slightly overbought. BTC needs to consolidate at its current range between 6800 and 7400 before moving higher. Placing a stop below 6800 is advisable.
BTC has been bouncing nicely off support. Look for resistance at the downtrending 20-day moving average and the level of congestion from November near 9500. This bounce could be a short-term bottom with a V-pattern recovery. However, it would be much better for BTC to return to previous support for confirmation and then bounce again to resume a bullish uptrend....
BTC is forming an inverse head and shoulders pattern. The pullback has hit the 50% retracement level. It can pull back even further to the 62% level without hurting this uptrend. This would put in a higher shoulder on the right side, which is bullish.
Ethereum Classic - ETC has touched it's 200-day moving average, which might act as resistance. This is also an area where it found support in July and August of 2018. It would make sense for it to stall here after quite a good run higher.
On the daily chart, BTC has stalled at the 50% Fibonacci retracement level near 8481. This provided a good target over the breakout level of 7600, especially after the consolidation. There is also resistance near 8600, which will also slow this rally.
Last July, I posted thoughts on BTC retracing to the 7000 level where the 200-day moving average was heading. It has pulled back to this area for the last six months with lower highs along the way. November's exhaustive candle suggests this drop is about done. BTC could see a reversal next month (7), which either consolidates or starts to move higher. No need for...
This makes two times that the price action stalled for BTC at the 50 DMA. If it loses the recent pivot low just above 9000, there is a real risk that it will drop to the 200 DMA once it catches up to 7000. Bulls need to step up and hold this area when the next candle forms.
The 20-day moving average acted as resistance and stopped BTC from advancing higher. I think it's difficult shorting that area a second time. The move higher from 9000 needs consolidation. I would try going long over that 20-day moving average if it sticks. Bulls may be back in control but more information is needed.
This really doesn't need a whole lot of explaining. We saw BTC bounce perfectly off of the 50-day moving average. It's now closing in on the 20-day moving average, which should act as resistance and a good area to go short or sell any longs. I believe bears are still in control and that this is just a typical bounce in the progression down to 9000.
If BTC has...
After charging to 13,800, BTC has come down hard and is only showing lower highs and lower lows. The four-hour chart shows definite support at the 200 DMA and consolidation on June 17th and 18th.
The one-hour chart has dipped just below support from June 27th and bounced at the 10,000 psychological support level. BTC needs to put in some higher lows and higher...