The Bitcoin Market Through a Gann Lens
As this article is my debut article here at cryptocoinsnews.com, I will endeavour to explain the tool I rely on more than any other when trading Bitcoin, forex or commodities. It is called the Gann Square. Unfortunately, like most of William Gann's remarkable discoveries, the Square is overlooked, misunderstood and largely unknown to the trading public at large. In this first article, we will look at the Bitcoin weekly chart, that we may get a long term overview of the Bitcoin market. At the same time, we will also get a rough idea of how the square works to help us locate support,....
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Bitcoin price rose gradually earlier today to a day high of around $365. As per yesterday's analysis, bitcoin price failed to overcome the resistance corresponding to the point of intersection between the Gann 1×1 Angle and the 23.6% Fibonacci retracement level at around 20:00 hours. According to the Gann Angles we plotted yesterday, bitcoin price is expected to face another strong resistance level at exactly 00:00 on Monday, which is a few hours away from now. Gann Angles: The beauty of Gann angles is that they utilize some integration concepts from the book of "Calculus" to help us....
The blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that can be ported into decentralized applications. Lens Protocol Is Live – Aave Founder Believes People Are ‘Ready for a Better Social Media Experience’ On Wednesday, the blockchain company Aave announced that the Lens Protocol is now live and roughly 50 applications have debuted on the platform. Aave first revealed the Lens....
Operated by DeFi lender Aave, its decentralised social media platform, Lens Protocol has gone live on the Polygon blockchain mainnet. Lens Protocol was first introduced in February 2022. Aave decided to introduce Lens Protocol as a decentralized competitor to Twitter and Facebook. Lens Protocol is a network which is used to build decentralized social media […]
Bitcoin price inched further up earlier today to record a high of around $383. Although bitcoin price managed to break the resistance point at 00:00, which corresponded to the line of intersection between the 1 x 1 Gann angle and the 0 Fibonacci retracement level (refer to yesterday's analysis), it dropped below the 1 x 1 Gann angle a few hours after shooting above this key resistance level. Bitcoin Price Moving Parallel To the 1 x 1 Gann Angle: By examining the 1 hour (BTC/USD) charts from Bitstamp and keeping the fibonacci retracements and the Gann angles we plotted during earlier....
Bitcoin price dropped today to print a low of around $350. The bullish wave has slowed down after piercing the resistance level at $350. Today's trading volume wasn't as high as yesterday's. It seems that the bulls will not be able to keep bitcoin price supported above $350 for so long, so it is expected to drop below that crucial resistance level within the next 1-2 days. Testing The 1×1 Gann Angle On The 1 Hour Chart: By examining the 1 hour (BTC/USD) charts from Bitstamp (look at the below chart), plotting Fibonacci retracements between the low scored on the 25th of November ($317.62)....