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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Bitcoin price is at an inflection point, with nearly every technical indicator mixed due to the weeks of sideways price action. By most standards, technicals slightly lean bearish, but crypto investors are hopeful the secular bull market remains intact. Thus far, the bull market has held on by a string, or a thin line of […]
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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....
PlanB, the popularizer of the Bitcoin stock-to-flow (S2F) model, says the current bull run still has a second leg remaining. PlanB “Awaiting” The Second Leg Of This Bitcoin Bull Market According to PlanB on Twitter, the S2F and S2FX models predict a second leg in the current bull run that will bring new highs for BTC. As the name may suggest, the Bitcoin S2F or stock-to-flow model is based on the ratio between the stock (supply) and the flow (supply). The model is actually a general one, meaning it can be applied on any commodity. Higher the S2F value, more scarce is the asset.....