Market Analysis: Bitcoin (BTC) Encounters Strong Resistance at $3,700 Level During Rally, Crashes To $3,500. All Major Cryptocurrencies in the Red

January 20, 2019  /  by Zachary Mashiach
Over the last 48 hours, the crypto markets have returned to a state of turbulence after several days of stable conditions. The price of Bitcoin (BTC) rapidly rallied from $3,630 to $3,775 on Jan. 19. The entire rally lasted less than 30 minutes, suggesting it was fueled by automated trading bots responding to a short… Read more

Market Analysis: Total Crypto Market Cap Decreases $1 Billion, All Major Cryptocurrencies Down Slightly

January 18, 2019  /  by Zachary Mashiach
Bitcoin (BTC) has decreased from $3,650 to $3,610, about a one percent loss. The price of Bitcoin (BTC) continues to be well below the critical $3,900 resistance level, and below the $3,700 resistance level as well, which has been dominant since the 10 percent price crash on Jan. 10. Today, all major cryptocurrencies are in… Read more

Bitcoin (BTC): S&P (SPY) and VIX as a Bitcoin (BTC) Barometer

January 18, 2019  /  by Bill Noble
There are likely three reasons for the recent stock market rally. First, massive bearish hyperbole in the media at the end of last year led everyone to predict lower stocks prices and a recession in 2019. As one great analyst used to say, “When everyone expects the same thing, something else happens.” In this case,… Read more

Market Analysis: Total Crypto Market Cap Increases $1 Billion, Most Major Cryptocurrencies Slightly Up

January 17, 2019  /  by Zachary Mashiach
Bitcoin (BTC) has had a slight but steady surge in price throughout today from $3,590 to $3,630. In general, it seems there is resistance around the $3,700 level since Jan. 10. The $3,700 resistance level is solidly below $3,900 where CME Bitcoin futures traders likely took out short positions after the December futures contract expired.… Read more

Bitcoin (BTC) and Total Market Cap: Inflection Point

January 17, 2019  /  by Bill Noble
Looking at the three-day chart of crypto total market cap, that metric is again pressing against a major trendline (Figure 1). In technical analysis, they say every good trend line has three points. That could imply a sharp drop in crypto market cap is coming. If the recent alt pump is in the ninth inning,… Read more

Ethereum (ETH), Litecoin (LTC), Steem (STEEM): Charting All Three Together

January 17, 2019  /  by Bill Noble
Looking at the Ethereum (ETH) chart, you can start to see the negative news flow take a toll. On the two day chart, Ethereum (ETH) is falling below its 21-period moving average (Figure 1). This setup seems similar to action right before the July and November declines. Specifically, small moves above the moving average, followed… Read more

Market Analysis: Bitcoin Retreats after Surge to $3,670; Most Major Cryptocurrencies See Less Than One Percent Change

January 16, 2019  /  by Zachary Mashiach
Bitcoin (BTC) has seen practically no change on the day, but the market today was not exactly flat. Bitcoin (BTC) crashed from $3,630 to $3,530 yesterday when news broke that the Ethereum (ETH) Constantinople fork was to be delayed due to a critical security bug. After that, Bitcoin (BTC) steadily rallied to a peak of… Read more

Bitcoin (BTC): Learning from the 2011 and 2014 Bottoms

January 16, 2019  /  by Bill Noble
The crypto Twitterverse is looking at how yesterday’s Bitcoin (BTC) decline brought Bitcoin to 80 percent below its all-time high. While the 80 percent number is a nice point of trivia, we believe we have better numbers to help find a tradeable bottom in Bitcoin (BTC).   Since the start of the avalanche lower in… Read more

Market Analysis: Major Cryptocurrencies In The Red after Cryptopia Hack and Ethereum (ETH) Constantinople Delay

January 15, 2019  /  by Zachary Mashiach
The crypto space has been plagued by bad news today. In the early morning, it was revealed that Cryptopia had been hacked and may be shut down long term. There are some allegations that this is an exit scam rather than a hack. Cryptopia had been used as the main exchange for numerous small-cap altcoins,… Read more

Bitcoin (BTC) Technicals:  Sink or Swim?

January 15, 2019  /  by Bill Noble
Bitcoin (BTC) charts on a two-day timeframe are showing signs that Bitcoin (BTC) is about to make a major move one way or the other. Fib circle analysis on the two-day chart show Bitcoin (BTC) approaching the edge of useful circle construct and the 21-period moving average. The pivot zone is between $3,630 and $3,710… Read more
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