Is Technical Analysis a Suitable Tool for Bitcoin?
Technical Analysis is a method for analyzing price through the study of historical data primarily focusing on price and volume specific to the market. Contrary to fundamental analysis, technical analysis is purely quantitative and does not account for a company’s intrinsic value. It utilizes previous prices and trading action to identify patterns within....
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As a follow up to last week’s higher-level overview, this week we will take a closer look at Bitcoin’s price and introduce a Daily Pricing Chart. Before diving right in, it’s strongly recommended for the readers to take a look at Investing 101: How to Predict Bitcoin’s Price. Armand Tanzarian makes several good points that anyone trading with a high emphasis on technical analysis must keep in mind. This weekly series is meant strictly as a guide and NOT a short term trading tool, which is why we will have a bigger focus on longer time frames. We will also attempt to educate readers that....
In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at Ethereum ahead of the upcoming Merge using the ETHBTC monthly chart. Specifically, this episode looks at the Ethereum versus Bitcoin trading pair using the Parabolic SAR, Ichimoku Cloud, and much more. Take a look at the video below. VIDEO: Ethereum Versus Bitcoin Analysis (ETHBTC): August 23, 2022 Looking at Ethereum’s monthly chart, after a clear violation of the last uptrend ending in 2017, Ethereum entered a bear market against Bitcoin –– yet was able to build a stable rounded base over the....
Bitcoin price looks ready to make a correction from its recent rally, giving buyers a chance to hop in the uptrend at better levels. Bitcoin Price Key Highlights. Bitcoin price recently made a strong rally but it looks like bulls are booking profits. This could offer a nice opportunity to enter on a short-term correction from the sharp climb. Using the Fibonacci retracement tool on the latest swing low and high on the 1-hour time frame shows potential entry points. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside.....
The current Bitcoin uptrend is undeniably strong, but according to a technical tool that directly measures the strength of an underlying trend, it now marks the second-most powerful in history. What’s potentially even more exciting for cryptocurrency investors, is that on higher timeframes, the same tool says the uptrend is only just getting warmed up. Trend Strength Tool Suggests Strongest Bitcoin Uptrend In History Is In The Making Bitcoin has barely experienced a noteworthy correction […]
Tesla CEO Elon Musk, who has been named Time Magazine’s Person of the Year, says bitcoin is suitable as a store of value while the meme cryptocurrency dogecoin is more suitable for transactions. “Even though it’s created as a silly joke, dogecoin is better suited for transactions,” Musk said.
Time Magazine’s Person of the Year Says Bitcoin Suitable for Store of Value, Dogecoin for Transactions
Tesla and Spacex CEO Elon Musk, the richest person in the world, has been named Time Magazine’s “Person of the Year” for 2021.....