Category Archives: Market

Monday Market Roundup – Calling the Bottom of the Crypto Market

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 […]

Monday Market Roundup – Back to the Future

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 […]

Monday Market Roundup – Tip of the Spear

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 […]

Monday Market Roundup – The Big Squeeze

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 […]

Market Round Up – Fake News

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. […]

Monday Market Roundup – Holding Out for a Hero

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 […]

Monday Market Roundup – The Final Countdown

Two weeks ago after the market entered the low-support danger zone, with multiple gaps just below on multiple cryptocurrencies, I suggested we’d likely see a short-term rally before a capitulatory move lower. That rally, rather like the current global heatwave, has persisted longer than expected with the BTC price hovering persistently on the lower resistance […]

Market Roundup – Building Bases

Over the last couple of weeks we have watched BTC and the other major cryptocurrencies move into dangerous territory below the main support bands; an area where dramatic moves are much more likely. Attempts to rally back into the safety zone over the last couple of weeks have failed, and the market looks to be […]

Monday Market Roundup – Gravity Lessons

Like Wile E. Coyote running off a cliff, over the last few days BTC and the rest of the market have ventured below critical support and paused in mid-air. Let’s take a look. Bitcoin The lower dashed blue line is the bottom of the critical support band. Below that BTC is in the ‘danger zone’ […]

Monday Market Roundup – Highway to the Danger Zone

Just like Maverick and Goose in Top Gun, BTC is flying right into the danger zone today. Although this is likely to be painful in the short-term, this is actually what the market needs to start thinking about forming a proper bottom. So, aviators on, let’s take a look. Bitcoin Yesterday’s move down was on […]