Bitcoin ‘GOLD 2.0’ Overview: Last four days we’ve seen bitcoin print 4 positive days moving in a range of $2000 from 5k-7k. However is this strength over all? Next week will be very telling to the direction of the market. We are seeing more flow into OTC orders with fresh clients and some flicking to tether, Market structure the resistance at 6400 from the low...
Bitcoin ‘GOLD 2.0’ Overview: The question is ‘Was that the bottom or first BIG leg down’? For Bitcoin Strength we’d like to see bitcoin flow to the middle of the channel punching throw the previous low at 6500. This would install a lot of confidence back into the market during these world economic times. For a bearish scenario we’ve left the triangle do the...
Bitcoin ‘GOLD 2.0’ Overview: Yesterday we saw a a drop down to the 5000 support level. We’ve opened todays candle in the same area of comfort levels of the previous and still sitting on a perch. Market very indecisive considering the global markets. We will continue to watch price around this triangle for future movement play. Support Levels: On it now at...
Bitcoin ‘GOLD 2.0’ Overview: Crazy last few days hey! We’ve been waiting for movement since open, dribbling down under the downward channel trend line back into the triangle. For todays trading a smaller candle will not show strength or convince, so bulls have to push this back up into the wicks of the previous days at least. One would anticipate, especially...
Bitcoin ‘GOLD 2.0’ Overview: All markets freaking out around the world many still unaware of how this will affect them in the not to distant future and Bitcoin dropping and settling at the bottom of the lower trend line from a foundation point of Dec 2017/ Jan 2019. We see Bitcoin settle in the triangle under the downward channel and perched on the trend line....
Bitcoin ‘GOLD 2.0’ Overview: With the news from the Federal Reserve announcing they're emergency cutting rates to zero and launching a massive quantitive basin g program to do $700 billion in asset purchases we saw a slight upward movement and rejection to that news at the 6100 mark For Bitcoin. This is a positive sign for bitcoin however its still following...
Bitcoin ‘GOLD 2.0’ Overview: $58,557,978,685 to 32,014,233,044 24hour volume change… We know it’s the weekend, but wow! I’ll be brutally honest, not much spice today, one would think the liquidations would reverse price movement. Currently awaiting close of next daily candle. Support Levels: Next support is at 5000 STILL Resistance Levels: 6100 is...
Bitcoin ‘GOLD 2.0’ Overview: After yesterdays low at 4000 we saw that candle close at the 5600 mark. This is situated within the larger downward channel. Looking at the charts we will leave the triangle below this downward channel and the lower trend line there as price could re break through and touch around the 4900 mark. A recover in ‘normal’ crypto markets...
Bitcoin ‘GOLD 2.0’ Overview: It’s a funny thing (say that lightly) what Bitcoin has done in relation top the wider economic markets and a lot of leverage trading heat, but what a time to be alive. Through mass arbitrage opportunity and and a very volatile market while many get hit big. Some will also profit. Being short since 9800 we took some profit off the...
Bitcoin ‘GOLD 2.0’ Overview: We see bitcoin struggling to bounce higher than 8000 at present. Price continues to stay within this downward channel. Yesterdays price action bounced off 7700 and price needs to come up to 8400 to show strength. We are still in the price formation of lower highs and lower lows making this structure more bearish. Support Levels: ...
Bitcoin ‘GOLD 2.0’ Overview: Yesterday, we posted about the weekly chart and its evident we are in a downward channel on the bigger time frame. From a daily point of view price this week needs to break 8400 at the very least to have powering breaking the highs. At present we are at the whim of global economic markets , however fairing better than most. Strength...
Bitcoin ‘GOLD 2.0’ Overview: A lot of financial markets falling it’s been an interesting last few weeks, We see BTC fall in value also (this far). We zoom out to the weekly chart to see some defining points. If this is the 5th week of downward momentum then BTC has to show some strength or at the very least consolidation for a week or two. There's some support @...
Bitcoin ‘GOLD 2.0’ Overview: Eyes on Bitcoin falling through 8000 after yesterdays $900 drop. Simply going to point out the lower highs and lower lows and until this trend is broken that the price action doesn’t look to have much strength here. For bulls to change it up they are going to have to have buying power back past 8400 through to breaking the lower high...
Bitcoin ‘GOLD 2.0’ Overview: A break of the low at 8700 would signal that the downtrend is definitely in play. With two down days you have to ask yourself if this downtrend is going to continue……. Break lower…. With this price action if price is to break 8400 we are falling further. Support Levels: 8400 Turns into Support Resistance Levels: 9100 is the...
Bitcoin ‘GOLD 2.0’ Overview: At the open of todays candle we will be positioned in the middle of the down ward channel after an indecisive candle that couldn’t push through the 9100 area. We are watching the smaller channel within the downward channel, as if price moves sharply to the upside past 9500 then the up trend could continue. Although 8400 is the next...
Bitcoin ‘GOLD 2.0’ Overview: We wanted to see how this candle behaved at open and right now its been uneventful considering the news out of India with bitcoin being legal again. 9100 is proving to be some solid resistance with price licking above it yesterday and then settling below. The strength is with the bulls although this could be a stalling pattern to go...
Bitcoin ‘GOLD 2.0’ Overview: Well, we wouldn’t say that the triangle wedge has ‘popped’ in a certain direction except sideways. If the bulls can break 8900 and create a higher high we might see price travel to the midsection of the downward channel around 9100-9300 and come down and then bounce. IF price stays below 9100 then we may see another drop. Support...
Bitcoin ‘GOLD 2.0’ Overview: We are waiting for a pop here, it’s up to the market to decide. So here’s yesterdays briefing as it remains the same: Bitcoin has pushed back above 8800 and positioned itself on 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...