April 12, 2019 / by Bill Noble
Bitcoin (BTC) futures found support near a high volume price near $4,990. This seems to be an encouraging sign that dip buyers were out there (Figure 1). Figure 1 Bitcoin Cash (BCH) is holding near the bottom of the major gap from the hard fork. The level is $274. This seems to be a key…
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April 11, 2019 / by Zachary Mashiach
In the early afternoon yesterday, Bitcoin (BTC) appeared to have finally broken through the stubborn $5,300-$5,400 resistance level. Bitcoin’s (BTC) price rose as high as $5,440 during a short squeeze, but the euphoria was short-lived. Only two hours later, Bitcoin (BTC) dropped back to $5,300. Overnight, bearish sentiment intensified, with Bitcoin (BTC) dropping to $5,200…
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April 11, 2019 / by Bill Noble
We see four notable technical developments: • The continuous front-month Bitcoin (BTC) futures contract hit our resistance point at $5,509 and then came off sharply (Figure 1). Figure 1 • The S&P 500 Index (SPX) may be topping after finally breaking a steep uptrend line (Figure 2) Figure 2 • VIX (Stock market fear index)…
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April 10, 2019 / by Zachary Mashiach
Today, the first ever picture of a black hole was unveiled by the Event Horizon Telescope. Strangely enough, the stubborn $5,300-$5,400 resistance level is behaving like a black hole today. Throughout the morning and early afternoon, Bitcoin (BTC) rose up from $5,200 to $5,270. Then a short squeeze caused Bitcoin’s (BTC) price to quickly rally…
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April 10, 2019 / by Bill Noble
Looking at charts of Bitcoin (BTC) futures from the CME and the S&P 500 (SPY), we see some very distinct inflection points. On the continuous front month Bitcoin (BTC) futures chart, there is a big Fib speed resistance line and a horizontal resistance point at $5,509 (Figure 1). We expect Bitcoin (BTC) to attack this…
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April 9, 2019 / by Zachary Mashiach
Bitcoin (BTC) tested the $5,300 resistance level yesterday evening but ultimately was rejected and dropped to as low as $5,150 during the early morning hours. Since then, Bitcoin (BTC) partially recovered its losses and is now trading at $5,230. The support level for Bitcoin (BTC) has been consistently rising over the past week and now…
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April 8, 2019 / by Zachary Mashiach
Bitcoin (BTC) has been steadily rising since dropping to a local minima of $4,800 on Thursday afternoon. There was a resistance level at $5,100, and this resistance was tested on Saturday when Bitcoin (BTC) rose to $5,200 before being pushed back to $5,000. Yesterday evening, Bitcoin (BTC) definitively broke the $5,100 resistance level and rose…
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April 8, 2019 / by Bill Noble
Bitcoin (BTC) is tracking our bullish scenario. Support at $4890 held (Figure 1). This seems to set up the next leg up to $5,697. Figure 1 Litecoin technicals may be relevant to future Bitcoin (BTC) direction. We see Bitcoin (BTC) “catching up” with Litecoin (LTC) in terms of the strength of the uptrend. That said,…
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April 8, 2019 / by Bill Noble
Looking at the dApp space, charts are showing positive signs. Ethereum (ETH) worked hard to press through resistance near $170 (Figure 1). If the prior resistance zone at $167-$171 flips and acts as support, the upside target could be $240. Conversely, if Ethereum (ETH) experiences a sharp drop below $167, we might have to reevaluate.…
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April 5, 2019 / by Bill Noble
Bitcoin (BTC) is following the bullish scenario we have set out since the start of this rally. As our analogs continue to track, we are content to see Bitcoin (BTC) consolidate near $4,880 (Figure 1). In our view, Bitcoin (BTC) may surge again soon. Figure 1 That said, another Bitcoin (BTC) rally may be dependent…
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