Bitcoin has been in a relatively consistent uptrend since its inception. Every 4 years, the halving has sparked a bull-run that roughly increases price by a factor of 10.
Over the last year bitcoin has been forming a huge inverse head and shoulders pattern as shown. While normally a H&S is viewed as a reversal pattern, it can, and often does, occur as a...
The 5/9 flash crash bottomed perfectly at the resistance-turned-support yellow trendline. Strong buying at this point indicates further upside. My personal feeling is the crash was just whale selling in an effort to shake out stop-losses and gobble up more coins pre-bull run.
I haven't written about bitcoin in a while. After the early March breakdown, I felt somewhat lost as all my major trendlines were shattered aggressively. The nice thing though, is the March low provided a key point to identify long term dynamic supply and demand.
A few of my personal opinions on bitcoin technical analysis:
1. Log charts -- When considering price...
Beginning with the June highs around 14k, bitcoin started making lower highs and lower lows, the definition of a downtrend, which culminated in an inverse head and shoulders that formed over the month of December.
Education**: A H&S is considered a reversal pattern because the right shoulder forms a lower high (or higher low in an inverse H&S) than the head and...
