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On the hourly logarithmic Bitcoin Bitfinex chart, I have created a new standard pitchfork from the pivot low on August 13th to the swing high on August 21st and the swing low the next day on the 22nd. Price has stayed pretty tightly in the lower half of the pitchfork alternating between the the blue and green channel. Price has not yet successfully broken the...

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On the hourly analog Bitcoin Bitfinex chart, you can see the price steadily rising over the past few hours. The standard pitchfork has done a great job tracking some of the key levels for price current sitting in the lower blue channel around $6,500. There is a rising wedge pattern that has formed between the two pink lines and that top pink resistance line and...

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On the daily analog Bitcoin Bitfinex chart, I have been tracking an up-trending pitchfork that has been capturing the pricing action nicely within 1 standard deviation. Even though the bears firmly denied the uptrend breakout with yesterday’s wick and red candle, price is not in bad shape. The issue could have been due to the Bitmex maintenance issues that...

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On the hourly Bitcoin Bitfinex chart, I have been tracking this down-trending pitchfork that started back on July 24th and price has been moving outside of it for the past 2 days now. Price did dip back inside the upper red channel of the pitchfork, but found support at the orange 55 EMA line as well as the up trending blue line I have drawn. There have now been...

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On the hourly analog Bitcoin Bitfinex chart, you can see how price has been tracking the levels in this down-trending pitchfork quite closely. The pitchfork starts from the pivot high on July 24th and takes the swing low from July 27th to the swing high on July 28th. It has now been over two weeks of price bouncing around in the pitchfork and it is now pressuring...

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On the hourly Bitcoin Bitfinex chart, we are looking at the beginnings of a decent consolidation and possibly accumulation pattern. Price stabilized for the majority of the past 24 hours around $6,300, while a blue ascending triangle formed with the resistance sitting at the .786 Fib retracement at $6,343. Price then began to roll over earlier this morning on...

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On the hourly analog Bitcoin Bitfinex chart, we have a wonderful bloodbath. The SEC ETF postponement really threw a wrench in the technicals yesterday just as things were beginning to look good for the bulls. Price was halted twice around the purple 100 hour EMA line when the news dropped and price was crushed, way below the orange 55 EMA and turquoise 21 hour...

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On the hourly analog Bitcoin Bitfinex chart we have had a good bear trend the past 10 days since my last post, which taken price from around the $8,200 level down to about $6,900. Right now price appears to be consolidating in a range from $6,860 to $7,135 where price has been halted on an advance earlier today. I have drawn a blue rectangle on the chart below...

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On the hourly analog Bitcoin Bitfinex chart, we are looking a nice dip and rally over the past 24 hours. While the dip appears to be related to one of the ETF proposals being rejected by the SEC, it also is linked to some usual shorting speculation around the Bitcoin Futures expiration today as well. Since the expiration, price has rallied from $7,840 to a high...

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On the hourly analog Bitcoin Bitfinex snapshot we have a nice rally from where we last left off yesterday where price spring-boarded from this $8,250 level all the way up to the turquoise .65 retracement at $8,500. Volume started to slow down overnight and headed southward to $8,080 at 2pm EST today. Price is now bouncing on the outside of the up-trending and...

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On the hourly analog Bitcoin Bitfinex chart, we have had a beautiful extended rally today since around midnight EST last night where price began moving from the $7,750 level all the way up to $8,250 right now. I had thought there would be a lot more resistance around the convergence of key levels at $7,850, however the volume last night picked up and blew right...

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On the hourly analog Bitcoin Bitfinex chart, price has come a quite a ways from the $6,150 level I was looking at just 10 days ago. My targets I haven’t touched since my last post have also have turned out to be relatively accurate from a pricing perspective, however a little off in the timing. The screenshot below is of the last week or so in the pricing action...

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On the hourly analog Bitcoin Bitfinex chart, we can see how price came down from that corrective B wave on Wednesday and with no follow-through from the bulls, price headed south quickly. Price found support around that green .618 Fibonacci level at $6,170 that I was targeting on the overall Elliot Wave Cycle, and much faster than expected. The bulls put a strong...

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On the hourly analog Bitcoin Bitfinex chart, there’s not a whole lot to update over the past 24 hours here as price has pretty much gone sideways. I’ll make this quick, since most of my work went to some other analysis today. I have put a blue rectangle on the chart which represents a range of around $150 from $6,411 to $6,262. Wherever price breaks out of the...

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On the hourly analog Bitcoin Bitfinex chart, you can see how shortly after I posted yesterday, price had some significant upticks in volume and volatility complete with another fake-out move. The blue up-trending line we discussed was tapped and launched higher as the bulls made a concerted effort to break that no go area above $6,763. Volume spiked and the bears...

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On the hourly analog Bitcoin Bitfinex chart, we have watched price bounce over the weekend off of the dark blue up-trending support line marked around $6,525 all the way up to the high of $6,840. Price has now retraced back to the previous peak at $6,700 where it’s finding good support for the last 10 hours. I don’t expect this consolidation to last much longer...

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The holiday shortened week comes to an end as Bitcoin drifts sideways from it’s recent gains. Let’s take a look at what pricing action may be next. On the hourly analog Bitcoin Bitfinex chart, my targets were pretty close that I was looking at for a price range however, my timing was a bit off. We were tracking this rising wedge on Tuesday where price looked like...

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On the hourly analog Bitcoin Bitfinex chart, price hasn’t done a whole lot over the past 24 hours besides move downwards about $75, but it looks like there is some bearishness on the horizon. I have drawn dark blue two lines that represents a rising wedge that is currently containing the price well and typically break to the downside. I would have thought that...