Market Analysis: Bitcoin (BTC) Drops Back To $5,000 Leaving Crypto Market in the Red, Bitcoin (SV) Crashes Due to Binance Delisting and Bitcoin Cash (BCH) Rallies

April 15, 2019  /  by Zachary Mashiach
The price of Bitcoin (BTC) steadily rose yesterday from $5,030 to $5,190 just after midnight, and after that stabilized in a trading range between $5,120 and $5,160 for most of today. The crypto market was generally in the green this morning. However, around 1 p.m. Eastern time, the price of Bitcoin (BTC) quickly dropped to… Read more

Bitcoin (BTC), the Euro (EURUSD), and Banks

April 15, 2019  /  by Bill Noble
There are two little known macro factors working in favor of Bitcoin (BTC). The first is the chart of the Euro vs. the dollar (EURUSD). Almost everyone has forgotten that the Euro rose vs. the dollar (Figure 1) as Bitcoin (BTC) rose in 2017 (Figure 2). Figure 1 Figure 2 Looking at the chart of… Read more

Market Analysis: Bitcoin (BTC) Floating Near $5,000, Lack of Direction Leads to Mixed Day on Crypto Market

April 12, 2019  /  by Zachary Mashiach
After a volatile two weeks during which Bitcoin (BTC) and the rest of the crypto market has seen significant gains, the market has become relatively tranquil. Bitcoin (BTC) has been oscillating about the $5,000 level for two days, trading in a range between $5,100 and $4,930 but for the most part, hanging close to $5,000.… Read more

Weekend Chart Pack: Bitcoin (BTC) Futures, Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM)

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… Read more

Market Analysis: Bears Come Back in Force, Bitcoin (BTC) Drops as Low as $5,000, Several Major Cryptocurrencies Down Over 10%

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… Read more

Bitcoin (BTC) Futures, S&P (SPX), VIX, Ethereum (ETH): What Foreshadows What

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)… Read more
The first image of a black hole, from the galaxy Messier 87.CreditCreditEvent Horizon Telescope Collaboration, via National Science Foundation

Market Analysis: $5,300 Resistance Level Behaving Like a Black Hole, Bitcoin (BTC) Briefly Rises to Over $5,400 but Pulled Back Down

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… Read more

Bitcoin Futures (BTC1) and S&P (SPY): Miners vs. Investors

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… Read more

Market Analysis: Bitcoin (BTC) Rejected from $5,300 Resistance Level, Mildly Bearish Day on the Crypto Market

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… Read more

Market Analysis: Bitcoin (BTC) Steadily Rises Over Weekend and Now Faces Resistance at $5,300-$5,400

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… Read more
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