Bitcoin Price Low Getting Close
"It is always darkest before dawn." Wise words indeed. For Bitcoin bulls and/or people on the outside looking in, it must be starting to look like Bitcoin is a very bad investment. But this selling is (at worst) almost finished. Within days, the market will turn and start an advance that will cause traders to quickly forget the events of the past few weeks and months. If you will recall, we noted in an earlier article that the time-frame between 12/17 - 12/29 was flagged as an energetic period, and the likely end of the bear market. For reasons not thoroughly spelled out here, I believed....
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Here's a look at what we are focusing on in the bitcoin price this morning. Right then. Friday morning, a day left of the business week, and what a week we’ve had in the bitcoin price. There’s been so much volatility that the action has eclipsed that which we saw last week (and comparatively, last week was a lot more volatile than the week before) and we’ve had numerous opportunities to get in and out of the markets according to the rules of our intraday strategy. Boy did we take them. We’re heading into the close of the week sitting on a nice profit, and we’d like to close out with a....
Bitcoin price is back above $56,000 once again, after a tug-of-war between bulls and bears has led to a bit of a stalemate just as the April monthly comes to a close. The monthly candle at current levels will close as a doji, signaling indecision, and a potential reversal ahead. Here’s a closer look at […]
In the past few days, we advised traders to consider taking profits ~$344. It turns out that the magic number was a few dollars shy of that figure ($338). We also suggested that when the next pullback occurred we could possibly get a test of the long term support line. As I am writing these words, price has touched that support line. For now at least, that support is holding. See the 3-day chart below. As long as we do not get a close below that support line I will remain medium-term bullish. I continue to expect that the market will rise as soon as the price passes through the 2nd arc....