Bitcoin Bull Market is Still Intact
In the past few days, we have focused on the long term chart of Bitcoin. We have a reasonable degree of confidence that the long-term trend remains up, so we want to keep an eye out for opportunities to go long, rather than short. From today we will look at the daily chart to get a sense of what might happen in the “trade-able” future. Below is a daily chart, with a bull setup that is rather compelling. Note that the setup is centered upon the low of 8/2015 and the high of 11/2015. This is a relatively long time-frame for a daily chart setup. Indeed, it seems too long. But the setup seems....
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Technical factors suggest Bitcoin is still in a bull run even after a sharp sell-off from $18,476. After Bitcoin (BTC) price suddenly dropped from around $18,500 to $17,200, some traders began to question whether a local top had formed but there are multiple factors that suggest the bull run is still intact. Following the initial pullback, BTC continuously showed extreme volatility, demonstrating market uncertainty.The four factors that show Bitcoin’s momentum remains strong are whale inflows, a strong market response, resilience above each whale cluster, and high open interest.Whales are....
Today, Bitcoin price sank below $40,000 for the first time since September – a price more than 50% lower than what the market was anticipating this time of year. While the downside has been impossible to ignore, the latest sweep of lows has resulted in a touch of a trend line dating back to the bear market bottom that could keep the bull market intact a bit longer. Technical Analysis And Framing The Importance Of Trend Lines When it comes to technical analysis in Bitcoin, trend lines always matter. When such lines hold, it is a sign to the market that it is time to reverse. When they give....
Crypto assets like Bitcoin and Ethereum have taken a beating since April local highs, calling into question if the once powerful bull market is over or not. If it isn’t, a fractal discovered from the past market cycle forming this time around, could provide a roadmap for the last leg up of the current bull […]