After correcting slightly earlier than expected BTC pulled back aggressively last week and then also stopped rather earlier than expected, forming a new uptrend from the June lows. If this is confirmed as a turning point over the next 48hrs it’s encouraging behaviour; dampening/reducing oscillations show we’re nearing the end of this trading range. Meanwhile, […]
Author Archives: Jon Cotton
Bitcoin’s rally from the lows has made good progress, and the daily chart looks like it has further to run – however volatility is high with fear and greed still alternating, and short-term a pullback looks on the cards. Meanwhile alts are a mixed bag with some still trapped in trading ranges near the lows […]
After what felt like an interminable consolidation period for us all, bulls finally pushed bears out of the resistance/gap zone last night, triggering the start of a short squeeze – a rally in which short sellers’ stoplosses are triggered, causing a very aggressive move, something we’ve been thinking could happen for a while given the […]
So far our bottoming hypothesis is holding up. Altcoins overshot their targets somewhat, but BTC didn’t budge, maintaining that important divergence – and has been edging higher, causing altcoins to bounce hard. However we’re not quite out of the woods yet – although the BTC daily chart remains bullish, gaps in the various coins’ charts […]
I believe the market may have bottomed. I’m going to make my case for this view today. One major caveat first: We are still very much in a bear market in terms of trend analysis, clearly below all of the major moving averages, so many would consider this call insane. The conservative approach (and ironically […]
Last week’s bearish-tinged picture resolved into a clear rejection of the 50 week moving average. BTC is now uncannily mirroring May. This and a setup on the US Dollar discussed below point to lower prices for cryptocurrencies just ahead, especially for altcoins. Hoverboards at the ready, let’s take a look: Bitcoin After forming a head-and-shoulders […]
BTC bulls managed to make it over the crucial $7400 resistance line, but were then halted in their tracks by resistance and a downtrend. The market has been trading sideways since, pushing us right into the tip of the triangles on each crypto. A resolution to this impasse is imminent this week, bears currently have […]
A high volume assault by bulls on the major BTCUSD resistance line at $7740 is underway this morning. Other than that, BTC is unchanged from last week, still probing the underside of the uptrend. I’m going to zoom out slightly this morning though and break with tradition by looking at some other cryptos first. The […]
Bulls have managed to score quite a coup, confirming our suspected inverse head-and-shoulders bottom. Bitcoin Yesterday’s surge was on high volume intraday, with most of the move happening in two hours. A look at the daily chart shows that volume-wise these are still early adopter eager-beaver bulls rather than the whole market turning bullish yet. […]
In a turn of events worthy of the World Cup, bulls have managed to wrest charge of BTC from the bears over the last week, despite their precarious position.. A decent attempt at an inverse head and shoulders bottom is underway, and they’ve managed to establish a new Alamo support level at $5820. Since the […]