BCryptological

BCryptological Updated 

BTC continues to be restrained by three Moving Averages: The Daily 200 MA The Daily 21 EMA The Weekly 100 MA With a clear decline in volume, we can see that a decisive move is imminent in the coming week. But are we going back up to $10,000, or down to $6000? Here is the link for the free 50,100,200 Daily AND Weekly Moving Average indicator & also the ...

BCryptological Updated 

Since the dump two weeks ago, BTC has found support on the Weekly 100 Moving Average, but is also held by resistance from the Daily 200 Moving Average. To a lesser degree, the Daily 13 Moving Average may be starting to have some influence, although that remains to be seen. Following these levels and their strength will give you the first indication of if BTC is...

BCryptological

Definitions of a bear market vary, but there are three truly fundamental ways to define it: Are we below the weekly 21 EMA = YES. Are we below the daily 200 MA = YES. Is the daily 50 MA below the 200 MA = almost. Despite its sensational name, a death cross (and indeed a golden cross) are incredibly reliable indicators of the approaching market trend. We...

BCryptological Updated 

With bull run momentum dwindling and a series of lower lows, BTC has fallen into an increasingly bearish consolidation range: for the past two weeks, Bitcoin has been moving tightly between the 55 and 89 EMA, with the 50 MA quickly squashing any attempt to break above it. Following this battle will give you a strong indicator of if BTC is going down to $9000 or...

BCryptological Updated 

For a full year XRP has had a firm bottom offering a fertile buy zone whenever we've dipped below $0.29. This just happened again, suggesting an excellent entry to go long. It's worth considering the weekly 100 Moving Average as a target since that has proved strong resistance throughout 2019... which would lead to a potential move up of 70%. But if BTC...

BCryptological Updated 

It might appear as though BTC is repeatedly testing the $10,000 psychological level, and of course it has. But when plotting entry/exit trading points, you should be aware of where BTC is finding true support... For the past six weeks BTC support has very reliably been the daily 89 EMA. Since we topped out on 26th June we have entered into a bullish...

BCryptological Updated 

Litecoin last broke above the critical 21EMA on 24th May 2019, resulting in a move up of more than 50%. Today we broke decisively above it once again - massively increasing the likelihood that we will ride it as support for another pump against BTC. The target? This is likely to be the 200 Moving Average, although it is far from a foregone conclusion, with it...

BCryptological Updated 

The parabolic bull run ceased a little over two weeks ago when we decisively dropped below the 21 EMA... but this week we are making the second attempt to push back above what has since become strong resistance, especially as it lies just above the $10,000 psychological level. Expect us to move between the 21 and 55 EMA (in the $9150-$10150 range) for the next...

BCryptological Updated 

While no trading pattern plays out every time, they do tell us what is more likely to happen. In this case, we have experienced a clear double top in BTC (around $13228). How to trade a double top A double top is a reversal pattern that occurs at the end of a strong move up - there are two peaks at approximately the same level (with the second notably not...

BCryptological

Since the weekend, BTC had been in a range between the critical 21 and 55 exponential moving average - the latter coinciding with the 0.382 Fib retracement level, and just below the psychological $10,000 level. In the last hour the 55 EMA has failed and we are left with three potential targets: $8000 at the 100 Moving Average $7400 at the 0.618 Fib...

BCryptological Updated 

Two important perspectives to look at Litecoin vs Bitcoin: Bullish: Litecoin has been in freefall for the past 12 days, but is about to contact the daily 200 Moving Average, which proved strong support twice in May. The daily Stochastic RSI and RSI both are indicating a possible shift in momentum to the upside. Bearish: The (far lower) weekly 50 Moving...

BCryptological Updated 

XRP is currently at a level which has offered rock-solid support since August 2018, with further contact in Sep 2018 and May 2019. It may not hold this time with BTC on such a run, but if it does that could provide a strong entry point to go long. Daily RSI has entered oversold to support such a possibility, with Stochastic RSI unsurprisingly ready for a shift...

BCryptological

Bitcoin Cash ABC has lost support on the 100MA and will likely now fall like a dead weight until it reaches at least the 200MA, where a bounce back up to the 50MA (which by then will have dropped from current levels) will be highly likely. This free Moving Average indicator is linked below... Save crucial space on your Trading View chart by utilising my free to...

BCryptological Updated 

Since April BCHABC has been in an ever-narrowing range, between the 100 Moving Average and a clear downward slopping trend line. Both touches on the 100MA since April have resulted in a quick bounce up and we are just about to make contact once again... definitely something worth keeping an eye on. >>>If the pennant is to play out, target up or down will be...

BCryptological

It would also be wise to assume this bearish pennant will break out downwards towards $7000, however in the meantime there are some clear neutral targets within the pennant to work with... Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link below. ...

BCryptological

Whether you are bearish are bullish, we do have one fact to work with... by the very definition, BTC is no longer on an exponential rise on the daily chart (and if re-drawn to include the current price action, it is just a curve, but absolutely not exponential). Most were caught out by the run passing $6,000 like a knife through butter, but with a textbook...

BCryptological

We have an incredibly obvious pennant forming since the weekend, which is now almost complete (most pennants break at the 75% mark) and so we must expect a big move very soon. Generally more weight should be given to the TA from higher timeframes, making a move down to $3700 (where the daily 50 & 100 MA are converging with an important trendline dating back to...

BCryptological Updated 

On the hourly chart the impact of the 100 and 300 Moving Average cannot be denied. While both were providing support until Monday, since then we have been trapped in an ever tightening range between the two. With both the RSI and Stochastic RSI showing indecision, expect a strong signal of BTC's future intentions for the next week from which MA we break through. ...