$60K becomes resistance — 5 things to watch in Bitcoin this week
A headache for Bitcoin bulls is compounded by a raging U.S. dollar, as investors sit on the fence over which way the market will go. Bitcoin (BTC) begins a new week with a rare disappointment for its Q4 bull run — failing to crack previous support.After a promising weekend, BTC/USD ultimately saw rejection at $60,000 twice, and has since headed below $57,000 as market momentum wanes.The stakes are high: some believe that sky-high Bitcoin price targets can still be met by the end of the month, while others believe that this bull market will take longer to play out than previous ones. With....
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Here's a look at what we are focusing on in the bitcoin price this morning. OK then, let’s get things kicked off for w fresh week’s worth of trading in the bitcoin price. Price moved a little over the weekend, with a bit of volatility here and there serving up a few entry opportunities. That said, we didn’t really see any sustained momentum, so the trades were just scalps, at best. We should have a pretty busy week ahead if things carry through from the end of last week, so let’s get some levels in place and see where things land. As ever, take a look at the chart below to get an idea of....
The week is about to draw to a close, and it’s time for the second of our twice-daily bitcoin price watch analyses. As we have done a few times already this week, let’s kick things off with a chart. The chart below is a 15-minute candlestick chart showing the last 24 hours worth of action in the bitcoin price, with the framework that we outlined this morning still overlaid. As you can see, the range we outlined this morning was defined by in term support at 445 and in term resistance at 451. With about six dollars to play with, we said that we would look at implementing both our breakout....
Here's a look at what we are focusing on in the bitcoin price this morning. So that’s another weekend out of the way, and considering what we saw in the bitcoin price heading into the close of the week last week, things we’re relatively flat. In the second of our twice daily bitcoin price watch pieces on Friday, we noted that there looked to be plenty of volume pushing the markets throughout the day, and that this might be indicative of some weekend long volatility. As it turned out, this wasn’t the case. Things remained pretty inactive (at least, that is, from a price perspective) and we....
Here's what we are going to watch for tonight's session in the bitcoin price. Before we get started on this evening’s analysis, there are two things worth pointing out from this morning’s publication. The first, that we remain well within the range we slated, which likely means that we’ve seen the end of last’s night’s decline, at least temporarily. Second, that we did get a brief correction, and we managed to pick out the reversal point almost to the cent. Bragging rights aside, why is this important? Well, it validates our upside key level (i.e. resistance) and suggests there’s probably....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s analysis, we noted that things have been relatively flat so far this week (as they were over the weekend) and that – as a result – we were looking for some volatility during today’s session to get things moving for the week. Like we said before, it’s not really a problem if things are flat, but it makes for pretty dull strategy execution (and in turn, pretty dull reading for those who pay regular attention to this analysis). Well, the European session has now drawn to a close, and we got exactly....