Category: Bitcoin
The analysis published under this category are as follows.
Sunday, January 24, 2021
What’s next for Bitcoin Price – $56k or $16k? / Currencies / Bitcoin
By: Chris_Vermeulen
Bitcoin traders and enthusiasts are riding the wave after the incredible rally from $9,000 to $42,000 throughout Q4:2020. It certainly was an incredible run – more than quadrupling in value in less than three months. Now we find ourselves in an early 2021 corrective phase which will end in either another Breakout/Rally attempt or an Excess Phase (Blow-off) Top. This article highlights both potential outcomes because at this stage it is difficult to determine a single high-probability outcome.
Before I continue, I urge readers to review our How To Spot The End Of An Excess Phase article from November 27, 2020. You can re-read it at www.thetechnicaltraders.com/how-to-spot-the-end-of-an-excess-phase-part-ii/. This is an excellent primer for the content of this current research article.
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Wednesday, January 20, 2021
Bitcoin Price Crash: FCA Warning Was a Slap in the Face. But Not the Cause / Currencies / Bitcoin
By: EWI
See what 'allowed' for a turn down in the immediate future
In case you blinked over the last two days, bitcoin bulls had their hat abruptly handed to them when the cryptocurrency plummeted a jarring 26% in 48 hours.
The grisly details (or, here's how this bearish opportunity unfolded, for the few traders who were ready):
- The selloff was the market's worst two-day decline since the start of the coronavirus in March 2020.
- The crash took prices $10,000 down from their all-time high near $42,000 set on Friday, January 8.
- And, all told, the move erased nearly $185 billion from bitcoin's value (Jan. 11 Bloomberg); for reference, that's the entire net worth of the richest man on Earth, Elon Musk.
Tuesday, January 12, 2021
Collect a Bitcoin Dividend Without Owning the King of Cryptos / Companies / Bitcoin
By: Robert_Ross
Bitcoin celebrated its 11th birthday on January 3. And what a party it's been, with the world's first and most famous cryptocurrency now trading near $40,000.
Warren Buffett famously referred to Bitcoin as "rat poison squared." The Oracle of Omaha might never own the King of Cryptos. But even he has to admit that it is charting a path higher… one that is as unique as the asset itself.
Bitcoin once shot up 1,882% in a little under a year. It went from $998 in January 2017 to $19,783 in December 2017. One year later, it dropped around 83% to $4,935.
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Thursday, January 07, 2021
Bitcoin Price Collapses almost 20% at the start 2021 / Currencies / Bitcoin
By: Chris_Vermeulen
After an incredible upside price rally that took place throughout the end of 2020, the recent 20% decline in Bitcoin prices, seemingly overnight on January 4th, may have come as a shock to many Bitcoin traders. The deep low price was reached in early trading overnight on very heavy volume – reaching levels near $27,734. Compared to the high price level reached just 27 hours earlier, near $34,800, this strong price decline represents a 20% sell off (over -$7040).
Bitcoin Daily Chart
If this is the start of a broader downtrend for Bitcoin, we’ll have to watch the MAGENTA trend level on this Daily Bitcoin chart below for an indication the upward support channel is breached. This may be a deep pullback in a stronger uptrend still. But the heavy volume and very deep decline suggest the upside parabolic price trend may have “popped” and Bitcoin may be setting up for a bigger change in trend in early 2021.
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Wednesday, December 30, 2020
Bitcoin Price Rallies Above $28,300 – Is This The Peak? / Currencies / Bitcoin
By: Chris_Vermeulen
We hope you enjoyed the brief holiday break… it seems Bitcoin has been busy while the markets have been resting! Bitcoin enthusiasts are adamant that the price rally has just started a parabolic move higher. From a technical standpoint, this current rally certainly appears to have gone parabolic. As any trader already understands, what goes up may eventually come crashing downward.
My research team and I believe failure at the current highs would represent a clear technical divergence pattern between price and the RSI indicator. Additionally, the current rally that started on December 20 consists of a $10,850 rally phase. The previous rally that took place from October 20 to December 2 consisted of a $9,200 rally phase. We believe this current rally phase from December 11 could be a Wave 5 rally (almost equal to the Wave 3 rally range). If our researchers are correct, this final rally phase could come crashing downward after reaching these peak levels above $28,000.
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Sunday, December 27, 2020
Bitcoin Rally Similarities – Is This The Peak? / Currencies / Bitcoin
By: Chris_Vermeulen
The recent rally in Bitcoin is strangely similar to the rally that took place in 2017. Although the range of price throughout the rally is somewhat different, the structure of price throughout the rally phase is very similar. Our researchers believe this similarity suggests a peak may be forming in Bitcoin and the big volume on Monday, December 21, 2020, may have represented a “blow-off peak” in price.
Bitcoin 2017 Peak Structure
The following Weekly Bitcoin chart highlights the three rally phases that took place before the peak level was reached in December 2017. Pay very close attention to the structure you are seeing on this chart and the highlights we’ve made to help you understand how the price structure is being mirrored in the current rally phase.
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Monday, December 07, 2020
Bitcoin Price Next Stop: $14,000 or $37,200 / Currencies / Bitcoin
By: Chris_Vermeulen
After the incredible rally in Cryptos recently and my team’s recent research articles about how to spot a “Blow-Off Peak”, the recent downturn in Bitcoin prices has raised a valid question – is this the start of a new “Blow-Off Top” for Bitcoin? In our recent 2-part research article on Blow-Off Tops, we suggested there are five phases to a Blow-Off top setup. The first is an incredible rally attempt – usually somewhat similar to a parabolic price advance. We can certainly say that Bitcoin has seen a huge price advance from near $4000 in early March to over $19,000 recently (+$15,000). Is this it? Is this a major price peak or will it continue higher?
When taken in the context of what has transpired over the past 12+ months with COVID-19 and various global lock-downs, it does make sense that many more displaced workers across the globe may have become actively involved in Cryptos and alternate assets. It also makes sense that a rush into the recent upside trending in Bitcoin, starting near early October 2020, may have prompted a rush for Crypto traders/investors. Everyone loves it when their investments rally 80% or more in less than 60 days.
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Friday, December 04, 2020
Bitcoin Breath Taking Surge - Crypto Trading Event / Currencies / Bitcoin
By: EWI
Dear Reader,
"Breathtaking" is a fitting word to describe Bitcoin's surge from the March lows near $3,500 to the recent high near $20,000.
You probably want to know how much upside is left -- if any.
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Thursday, November 19, 2020
Reasons why Bitcoin is Treading at it's Highest Level Since 2017 and a Warning / Currencies / Bitcoin
By: Gary_Tanashian
MarketWatch used to pick up my posts on rare occasion but has not done so for a long time. Maybe they think I make fun of some of their articles or something. I don’t know what would give them that idea. I actually find MarketWatch useful in ironic and non-ironic ways.
But anyway, this morning an article tags along with the recent near-deafening Bitcoin noise…
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Friday, November 13, 2020
How to buy Bitcoins using debit/credit card? / Personal_Finance / Bitcoin
By: Sumeet_Manhas
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Monday, September 07, 2020
Bitcoin Price Crash - You Will be Suprised What Happens Next / Currencies / Bitcoin
By: Chris_Vermeulen
RESEARCH HIGHLIGHTS:
- Bitcoin collapsed near Triple Fib Amplitude Arcs – is this a sign of pending reversal for other assets?
- It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k.
- Gold and Silver will move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets.
- As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise.
Thursday, August 27, 2020
The Rise And Rise Of Bitcoin / Currencies / Bitcoin
By: Sumeet_Manhas
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Thursday, May 14, 2020
Bitcoin Halving Passes with no Fanfare, but Smart Money is Accumulating / Currencies / Bitcoin
By: Submissions
After flirting with the 10k level, bitcoin has retraced to find support around $8,700 as the long-awaited halving event passes.
This milestone sees the block reward sliced in half, effectively acting as a supply shock by reducing the profits of miners by 50% and halving the amount of new bitcoin that enters the network.
With central banks embarking on massive money printing operations to tide over stalled economies, this event makes bitcoin look increasingly attractive as a deflationary asset — and this is reflected by the increased presence of institutions.
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Thursday, May 07, 2020
Bitcoin Price Trades Like the S&P 500, and is Testing Resistance / Currencies / Bitcoin
By: Chris_Vermeulen
If you pay attention to the trends taking place on the Weekly Bitcoin chart, you’ll notice that it has reacted to the global market Covid-19 trends almost exclusively since the beginning of 2020. After the end of 2019, the US stock market rallied on Q4: 2019 data and so did Bitcoin. The US Stock market peaked near February 20 and began a deeper selloff on February 25 – Bitcoin followed this pattern as well. When the US Fed initiated the stimulus on March 23, Bitcoin prices had already started to bottom in anticipation of the Fed stimulus and really began to rally after the Fed began intervening.
Before you continue, be sure to opt-in to our free market trend signals before closing this page, so you don’t miss our next special report!
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Sunday, April 12, 2020
Bitcoin Has Just Passed 50% Fibonacci Level And Is On Its Way To $7700 / Currencies / Bitcoin
By: Submissions
The recently rising price of Bitcoin against the US dollar is slowing progressing towards the next resistance level of $7700. Currently, we are seeing some pin bars forming near $7200 with the resurgence of some selling pressure.
As seen in the BTCUSD Daily chart below, the Bitcoin price has been rising gradually since its lowest levels this year, when the price briefly dropped on the 12th of March to $3600.
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Thursday, March 26, 2020
Covid-19 Pandemic Affecting Bitcoin / Currencies / Bitcoin
By: Submissions
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Thursday, March 19, 2020
Bticoin Crash Big Channel Review / Currencies / Bitcoin
By: readtheticker
Is bitcoin digital gold? Well 2020 will tell us if this is true. Should you double up?
First you must congratulate bitcoin (and litecoin) for how liquid it is, well done!
So what happens next.
Do you invest for the sci fi world coming on the back of new fancy tech which will use just in time internet money any where in the world ? Will you trust banks once the great crash of 2020 is over? Will governments be desperate for economic activity and remove taxation burdens to allow tax free BTC or LTC transactions.
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Friday, March 13, 2020
5 Professional Tips to Sell Bitcoin / Currencies / Bitcoin
By: Submissions
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Thursday, February 13, 2020
Bitcoin: "Is it too late to get in?" Get Answers Now / Currencies / Bitcoin
By: EWI
Hi Reader,
Since December, Bitcoin and other cryptos have been on a silent tear. Silent, because you don't hear about it in the news -- yet.
But if you've spotted the rally, you may be wondering, "Is it too late for me?"
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Sunday, December 29, 2019
Does Bitcoin Have Value; Is It Money? / Currencies / Bitcoin
By: Kelsey_Williams
Writing about Bitcoin is a challenge for several reasons. It has a short history (ten years), it is highly complex, and there is a certain vagueness to the logic behind the concept. When reading about it, or listening to explanations, I wonder whether or not I understand it adequately. I also wonder how many others do.
Much has already been written and discussed, such that further commentary might be superfluous. But some additional perspective likely won’t hurt. So, for those who asked…
What is it? Bitcoin, simply stated, is a form of digital currency. That is how most people describe it when pressed for an acceptable answer. That does not make Bitcoin unique, though, since most of our money supply today is in the form of digital currency.
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