Hello, fellow crypto enthusiasts! Most cryptos saw a nice little pop yesterday with Bitcoin getting back over the $6000 level going from around $5900 to over $6500. I am very skeptical of this bounce though, I do not believe that this is the beginning of a long-term recovery, it could, however, be the start of a short-term recovery. My personal belief is that it...
Hello and thank you for taking the time to check out my charts. Once again I am taking a look at the 2013/2014 boom and correction cycle to see if I can gain some insight into how this current cycle may play out in the future. I have said this many times but it is worth repeating, the current boom and correction cycle we are going through is nothing new for...
So before I get started I just want to say I hope you are all having a great weekend so far. For today's chart, I decided to take a look at the bearish wave pattern Bitcoin has been forming over the last month. What I found was that both the drops and bounces I concentrated on are pretty symmetrical. I am using the 12-hour time frame and concentrating on drops...
Hello and thank you for checking out my analysis, I really do appreciate it. Before I get started I also want to say I hope everyone has a great weekend, I know I am really looking forward to it here in Lakeside, Montana. Okay, so BTC once again couldn't hold over the $6500 - $6600 resistance zone and is now retesting the $6000 level for the second time in a...
So we just saw a pretty nice pop higher in the price of BTC within the last 2 hours, but what does it mean? Does it mean the bottom is in for Bitcoin? Afterall we did come within $108 of the $6000 low set on Feb. 5th (Bitfinex) and it held. We have now bounced from that level but can we be sure this is the start of a new uptrend? Does it signal a time to BUY!...
So looking at the Litecoin chart I am also bearish in the short-term (weeks to months). Litecoin is forming a descending triangle with a base at about $110 which has held several times. There is also pretty strong support around the $100 level. The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern which...
So from what I see Ethereum like Bitcoin is also forming a symmetrical triangle. Because I see both patterns as being very similar and the outcomes most likely similar I have just copied over most of my Bitcoin analysis. In my Bitcoin chart that I just published, I explained how In most instances, the symmetrical triangle is a continuation pattern which...
So first I should say again that longer term (years) I remain bullish on cryptocurrencies. I really believe the technologies behind them are changing our world and will continue to do so for many years to come. Having said that though in the short term (weeks or months) I have to say that the chart patterns I see on at least the major coins and tokens look pretty...
Bitcoin, where are you headed next? Over the last four days, Bitcoin has made a nice move higher and after a few attempts Bitcoin finally broke out above the long-term downtrend trend line. So how important is this break above the trend line? In my opinion, it is somewhat important but does not mean it can't still go lower, Bitcoin could still reverse course...
I decided to examine a previous boom & correction cycle Bitcoin has gone through to get an insight into how the price reacted over time and also to compare that cycle to the current boom and correction cycle. I was going to call the cycle’s boom & bust cycles but I don't like the word bust, my definition of bust is when something crashes and never regains its...
Okay, this is my bearish scenario for BTC, I already published my bullish outlook. I know, these are about as polar opposite as an outlook could be but I just didn't want to publish a rainbows and unicorns view without at least showing an alternative. It is also very possible that there could be a third possibility, something in between where BTC just meanders in...
First, I should make it clear that I don't have any idea where the price of BTC will be in the next 2 - 3 months. I hope that it will be higher but I am also aware that it could and ready if it does move substantially lower. I don't think it is out of the question that we could see a prolonged period (weeks, months) of lower prices and consolidation. But having...
BTC looks to be forming an inverse Head and Shoulders pattern, (Coinbase 12 hour time frame). This will be a big test for BTC, Bitcoin has struggled since late January to push above $11,800. We will know shortly if this time it can break through that level. One thing that concerns me is that it looks as though the volume is dropping off, I would hope to see the...
Nice bounce off of the 100 SMA on the daily time frame I would really like to see ETH break above $900 here, although it may fail on its first attempt and need to bounce again off of the 100 SMA. Something will have to give eventually as the price gets squeezed between the $900 price level and the rising 100 SMA. Looking forward if ETH can manage to push back...