Bitcoin (BTC), Ethereum (ETH), S&P (ES): Tracking the Crypto Consolidation

June 5, 2019  /  by Bill Noble
There is some good news on the charts today. CME Bitcoin (BTC) futures held support near $7,400 despite the sour stochastics situation (Figure 1). $8,666 and $6,300 are the other relevant levels. Right now, Bitcoin’s (BTC) technical picture is mixed. Figure 1 Looking at the Ethereum (ETH) chart, support at $240 held (Figure 2). If… Read more

Market Analysis: Crypto Market Partially Recovers Its Losses, Total Crypto Market Cap Gains $8 Billion

June 5, 2019  /  by Zachary Mashiach
Bitcoin (BTC) dropped to as low as $7,490 yesterday at 6 p.m. Eastern time, down $1,540 from the 2019 high of $9,030 on May 30. During the same period of time, the total crypto market cap lost $46 billion, dropping from $287 billion to $241 billion. Today has seen a partial recovery across the crypto… Read more

Bitcoin (BTC) Drops to as Low as $7,560, Most Major Cryptocurrencies Down Over 10%, Total Crypto Market Cap Sheds $42 Billion Since 2019 High Last Week

June 4, 2019  /  by Zachary Mashiach
Around 7 p.m. Eastern time yesterday, Bitcoin (BTC) quickly dropped from $8,500 to $7,800. Bitcoin (BTC) managed to rise to $8,000 by 10 a.m. this morning, but another round of selling this afternoon brought Bitcoin (BTC) down to as low as $7,560. Currently, Bitcoin (BTC) is trading near $7,600 with a 24-hour change of -10%.… Read more

Has the Fed Changed the Bitcoin (BTC) Outlook?

June 4, 2019  /  by Bill Noble
Today, Fed policymakers acknowledged the gravity of the trade war and the falling stock market. In a nutshell, the Fed has signaled that it stands ready to cut rates and provide stimulus if necessary. As a result of these statements, the stock market rallied, and Bitcoin (BTC) on BitMEX fell to near $7,500. That’s support… Read more

Market Analysis: Crypto Market Mixed, Bitcoin (BTC) Continues to Be Indecisive Following the CME Bitcoin Futures Expiration

June 3, 2019  /  by Zachary Mashiach
The CME Bitcoin futures expiration occurred at 11 a.m. Eastern time on Friday. The CME Bitcoin futures expiration has often been correlated with trend shifts in the Bitcoin (BTC) and crypto markets, and the week following the expiration is an important period of time to monitor the crypto markets since the market sentiment of the… Read more

Metals & Crypto: Does One Help the Other?

June 3, 2019  /  by Bill Noble
Last week, Bill Griffeth from CNBC published a Tweet about precious metals that we found staggering. He reported that U.S. Mint gold coin sales for May were down 60%, silver sales were down 27%, and — get this — the U.S. Mint did not sell any platinum coins. The fact about platinum is staggering as… Read more

Market Analysis: Bitcoin (BTC) Recovers to $8,400 After Testing Support at $8,000 Yesterday Afternoon

May 31, 2019  /  by Zachary Mashiach
Yesterday afternoon, the price of Bitcoin (BTC) plunged from a new 2019 high of $9,030 down to support at $8,000. Bitcoin (BTC) has slowly and steadily recovered throughout today and is currently trading near $8,440. The stock market is in the red today with the Dow Jones Industrial Average (DJIA) down over 300 points. This… Read more

Bitcoin (BTC): Embrace the Fear and Adopting FIDO

May 31, 2019  /  by Bill Noble
In retrospect, the Bitcoin (BTC) futures chart was the chart to be looking at if you wanted to catch yesterday’s reversal (Figure 1). The Fib speed lines have been working perfectly there, and they continue to do so. That chart hurts because FOMO was an easy trap to fall into. That said, even though the… Read more

Market Analysis: Bitcoin (BTC) and the Crypto Market Rise to New 2019 Highs and Then Dive Into the Red

May 30, 2019  /  by Zachary Mashiach
Around noon Eastern time, Bitcoin (BTC) spiked within 30 minutes from $8,700 to a new 2019 high of $9,030, and simultaneously the total crypto market cap hit a new 2019 high of $286 billion, which is 186% above the bear market low of $100 billion in December. However, Bitcoin (BTC) quickly gave back all of… Read more

Market Analysis: Support at $7,500-$7,600 Holds and Bitcoin (BTC) Bounces Back to $7,800, Crypto Market Still Mostly in the Red

May 23, 2019  /  by Zachary Mashiach
Bitcoin steadily declined overnight and into the early morning hours, reaching as low as $7,500 at 5 a.m. Eastern time. For a moment, it looked like Bitcoin’s (BTC) support level was about to give way, which would have caused a crash. Instead, support held, and Bitcoin (BTC) bounced back to $7,800 by noon. Since then,… Read more