Bitcoin Is Neither In A Bull Nor Bear Market: Expert Explains The Setup
Bitcoin is trading in a world where headlines still scream “bull” or “bear” while the underlying structure quietly refuses to play along. After spiking to an all-time high in the $124,000–$126,000 zone in early October and then shedding roughly a third of its value into November, BTC now sits in the low-$90,000s, still dominant but clearly winded. Into that confusion steps pseudonymous renowned crypto industry veteran plur daddy (@plur_daddy) who suggests the market may be in neither regime at all. “Because of the 4 year cycle, all crypto market participants are primed to view the market....
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Following up on the weekend look at Bitcoin’s long term price chart, we will look again today at the long term (8 day candle) chart of BTC, per Kraken. Over the weekend we looked at a Bull Setup. As we saw, that setup suggests a bull move that will likely last several more months. But of course, it goes without saying that there are both bulls and bears in the market at pretty much any given moment. I expect that is well understood by everyone reading this article. So, it is not enough to just look at a bull setup as we did in my last article. We want to gauge bear strength also. So let’s....
Bitcoin managed to touch the 5th arc pair of resistance on the 2-hour chart setup. This generated a sell signal. Since then it managed to re-test the arc and was rejected. The long-term trend is still up. But the short-term trend is likely going to be down. Looking at this bull setup, a reasonable target is the 1×2 Gann angle at ~ 940. Let’s look at a bear setup from the swing high of $1050 (Kraken): I have overlaid the bear setup on top of the bull setup and have labelled the intersection of the 5th arc pair of each setup. There are arrows at each point that stand out as likely targets in....
Bitcoin is set for a bullish market, Ethereum is here to stay, traditional investment vehicles and cryptocurrencies will marry and Blockchain awareness shall grow globally, according to an expert. The year 2016 saw an influx of Blockchain startups, with Ethereum showing a lot of promise before the DAO breach. As 2017 begins, Bitcoin has broken the $1000 mark and will achieve a new level of market capitalization. Jason Cassidy, a Blockchain expert and president at CryptoConsultant.com, tells Cointelegraph his expectations within the crypto environment over the course of the year. The end of....
With all the excitement in the Bitcoin market recently, I have not paid a lot of attention to Ethereum. However, this asset deserves our attention. It is signalling that a new advance might be in the making. Let’s look at a bear setup on long-term 2-day chart: This bear setup from the ATH shows 2 successful tests of support at the 1st arc pair. I don’t imagine I need to explain here why this bullish. However I want to point out that the blue arrow is highlighting a test of the 1×1 Gann angle. The 1st test of resistance was unsuccessful (from a bull point of view). However, price is once....
Ethereum is, imho, the play of the day. We have finally gotten a likely close on the long-term daily chart on the sunny side of the 3rd arc. This is not trivial. This development is supported by several other geometric considerations of the chart. For instance, here is a short-term bear setup from the recent swing high: As you can see, we have a significant green candle that occurred EXACTLY at 3rd arc support, and exactly at the end of the 2nd square. There is more. Here is a long-term bear setup of the same chart: This long-term bear setup, most amazingly, ALSO shows a bounce off 3rd arc....