Tag Archives: cryptocurrency

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 […]

Tuesday Market Roundup – Long-term Bitcoin Targets

Bitcoin has just broken the 50 week moving average for the first time since 2014. History is repeating, in accelerated fashion. If BTC fails to quickly re-attain the 50 week level around $7700, then the promise of the recent death cross’s $3500-$4000 target is likely be kept, although I see the super-long-term upward channel as […]

Monday Market Roundup – Royal Doldrums

The crypto markets are behaving like an old Rolls Royce on its way to Windsor – coasting sideways in no particular hurry. After last week’s nonchalance, more of the same looks likely for the week ahead. Bitcoin We’ve started the week much where we were a week ago. There was a little downward drifting during […]

Monday’s Market Roundup – Sideways is the New Up

Last week’s predicted market-wide head fake came to fruition and crypto finds itself in no-man’s land currently, ricocheting slowly off various moving averages and zones of support/resistance. The short version is: everything’s likely to move sideways for a while, let’s take a look. Bitcoin After pinging around between the support/resistance zones we identified last week, […]

Monday Market Roundup – Fake Moves

Ethereum has sure been basking in the warm light of attention this week; not surprising given its move over the 200 day moving average and momentum since. Will it last though? Let’s take a look at that and the wider market. Bitcoin You may be wondering why I’m starting with BTC if ETH is all […]