Bitcoin lost 900 dollars within a bit over 2 days. But that’s not a reason to be bearish; Instead, this looks like a clean rejection by the upper trend line of an ascending channel – and as I mentioned before, this tends to be a bullish pattern for BTC, despite being theoretically a bearish pattern. …
My view didn’t change since my recent video: Bitcoin still looks like it could break out to the upside, but seems to be hesitant. That could be due to the CME – pumping before CME trading continues would leave (another) gap on the chart. Bitcoin still has the support of a wide ichimoku cloud on …
Bitcoin is still trading higher, setting higher lows – but not higher highs. It’s always topping out around 12,000 dollars, and we’ve seen that before: In early 2019 when Bitcoin just couldn’t make it above 4,000 dollars. But once that resistance was broken, Bitcoin embarked on a journey to 14,000 dollars. Now this sounds like …
After its recent 10% dump a few days ago, Bitcoin recovered pretty well and once again hit the 12,000 dollars level. This was followed by another, weaker rejection – and zooming out, this looks like a continuation pattern. Bitcoin spent around 85 days trading between 8,500 – 9,900 dollars before taking another leg up, and …
As expected, Bitcoin filled the gap on the CME chart and then dumped. After the dump, the 11,300-11,400 dollars area again acted as resistance, and it took BTC several attempts to get back above that level. While that area acted as resistance several times over the past 10 days, it never acted as support. Seeing …
Bitcoin hit the 11,700 dollars level after overcoming the 11,300 dollars resistance, just as I expected. The gap isn’t quite closed yet, but I wouldn’t be surprised to see it being closed soon. Again, I don’t think that there’s any reason for gaps to be filled – but it happens almost every time and by …
Bitcoin continued its pump up and is now trading above 11,000 dollars. It’s also trading within a rising wedge, but while that’s a bearish pattern, BTC often happens to pump out of those wedges. This means that BTC could take yet another leg up within the next few days – and if it doesn’t, that’s …
On the 23rd of July I mentioned that BTC may soon see the 10,000 dollars level – and today it did. After today’s pump up to 10,250 dollars, Bitcoin is trading right at the upper trend line of an ascending triangle on the daily. This move up looks quite sustainable as it confirmed several levels …
After already dumping 600 dollars between the 24th and the 25th, Bitcoin lost another 300 dollars last night when it dived to 8,830 dollars, totaling a loss of 9% within a bit over 3 days. Yesterday’s dump was no surprise as Bitcoin looked very weak already hours before the dump. The ichimoku cloud on the …