Bitcoin ‘GOLD 2.0’ Overview: Bitcoin has pushed back above 8800 and positioned itself at the open within the downward channel. This could be a retrace to create a steeper move down so until price breaks the resistance at 9100 we are more bearish than bullish. We aren’t discounting the triangle spoken about the prior days as the new candle hasn’t closed above it...
Bitcoin ‘GOLD 2.0’ Overview: Well, here we are…. Price currently @ 8560 after a lick above 8760 and then a settle down. Bears keep pushing down, but no break as yet. Our eyes and focus are on price action within this triangle. As previous days price action needs to dictate a push and this squeeze can’t go on forever and needs to pop/bounce. This market looks...
Bitcoin ‘GOLD 2.0’ Overview: For four days Bitcoin has spent time in the trading zone of 8400- 8980. For now we are holding within this triangle. Over the last week market looks heavy so you have to ask the question?: continuation to the down side with what's transpiring around the world with coronavirus or BTC is going to say nope, don’t care and bulls will push...
Bitcoin ‘GOLD 2.0’ Overview: Alright, We are holding @ the 8750-8800 mark. We watched as price tested the low near 8400 support and bounced back strongly once again hitting its head on the lower trend channel line. Todays candle opening above 8700 however we are trickling upwards only a little bit. We are paying attention to the Orange Triangle marketed on the...
Bitcoin ‘GOLD 2.0’ Overview: Currently price is sitting indecisively at 8850 hitting its head on our lower channel line. With support at 8400 we could see a bounce to the 9100 area. This market looks more heavy than bullish with its current market structure with ~ 74 odd days to the halving we believe price will stay between the 5500 - 10400 Mark Support...
Bitcoin ‘GOLD 2.0’ Overview: As we type President Trump is talking Live regarding Coronavirus quoted ‘could get fairly considerably worse’ you just need to take this into account when trading these markets and the outcome on the entire economy. Now, moving on to the charts with a bit of Technical Analysis Bitcoin has broken down to 8700 through the lower...
Bitcoin ‘GOLD 2.0’ Overview: We are intently watching price today as this is a critical area. Through this down movement we have tested the bottom wick @ the 9300 area forming a double bottom pattern. From here with the open of this daily candle bears could drive these prices as spoken about yesterday to the 9100 support area. If we push lower then a lower low...
Bitcoin ‘GOLD 2.0’ Overview: The Bulls need to show buying power and get back above the 10k area after that big push down yesterday. We see a downward channel ‘forming’, at this point that doesn’t show strength downwards just yet until there's a break of the lower swing toward the bottom of the channel @ 9300 mark. If we break that low then 9100 is the next major...
Bitcoin ‘GOLD 2.0’ Overview: Weekly/Daily candle opening very close to the 10k mark is showing strength to the bulls here, however they need to push and break and STAY above it. The more price rejects to the downside the weaker they become. Looking at the structure on the weekly chart this week has to have strength to hold this up trend in place. We’d like to see...
Bitcoin ‘GOLD 2.0’ Overview: We wanted to let some of todays price action play out and this is the exact area the predicted he market to be at. Take note of the current 2.6% upward movement and where price is situated under the 10k resistance level. Hopefully price can pop above 10k for the close as this with the lower trend line would give the market structure...
Bitcoin ‘GOLD 2.0’ Overview: Keeping it simple we can see the bulls have pushed back up along the underside of the trend line (which was the lower upper channels boundary) which will be crucial in the coming days price structure to continually test it. To continue the up trend we’d like to see bulls push into the 9900 area. However if price drops below 9500 a bit...
Bitcoin ‘GOLD 2.0’ Overview: With a test through the support at 9500 to the 9330 region if the bulls don’t show strength more of a drop may come. For strength we’d like to see price push into the 9900 and above 10k mark, this was the upper channel price zone. For the tug of war to stabilise for today price needs to stay above 9500, if not then a down trend is...
Bitcoin ‘GOLD 2.0’ Overview: Back down at 9600 into todays open bouncing off 9300. Take note of the price action as we are making lower highs on the daily chart, if this continues for the week this will weaken the buyers strength and momentum. For the mid term price action if we were to break 9100 then the bulls have totally lost control. From our previous day...
Bitcoin ‘GOLD 2.0’ Overview: Lovely push off 9500 support back into 10148 at time of typing. Even though a break of the upward channel occurred yesterday and we noted we’d leave it there for more market conformation. This is a lesson for traders out there to realise that certain areas are subjective and at the end of the day just because you draw some lines on...
Bitcoin ‘GOLD 2.0’ Overview: At he open of todays candle we see bitcoin has broken to the down side through the upper channel showing weakness dribbling its way to our support at 9500 and retracing. If Bitcoin breaks further to the low side below 9500 the strength of this move could diminish. We will leave the upper channel on the charts as price can rise and...
Bitcoin ‘GOLD 2.0’ Overview: At the open of the weekly candle we see that bitcoin last week created a double top around the 10500 mark but couldn’t punch through. Price dropped to a low of 9600 before retracing and opening at 9900 region. If this channel can hold this week it means the bulls have strength although they are skating on thin ice being below 10k...
Bitcoin ‘GOLD 2.0’ Overview: Well here we go with a retrace to the 9900 levels. We can see the upwards channel holding on the open of todays daily candle. The support at 10k has turned into resistance. 9500 is the next major support. A break further down will break the structure of the upward channel that’s formed, however if we bounce from here it shows strength...
Bitcoin ‘GOLD 2.0’ Overview: Around a $350 dollar move within the range of 10k and 10.3K over the last 24hours. We are very much in the middle of this upper channel. Take note of the purple trend lines, we had a projection last week of this with this one getting tighter. The bulls need to show some strength to defeat this double top, retrace, bounce and then...