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Bitcoin Tests Highs of the RangeBitcoin saw a nice pump from a softer dollar and strength in stocks. We were able to break out of the $20K handle, and is currently testing the next level above at $22.4K. This is the very top of the range, and a well established level of resistance. A red triangle on the KRI provides confirmation that we are running into resistance here. If we can break through, then the next targets are $23.9K then $25.1K. If we fail to break out, we could test the base of the $20K handle again or lows at $18.6K.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Holds the $19KsBitcoin got good support from lower levels in the $19Ks, finding support just above our level at $18.6K. We have since retraced back near $20K, but are still holding the $19K's. The Kovach OBV has drifted back up, albeit very gradually. Volatility is consolidating which could suggest a breakout is near. If so, we must first clear $20.7K, which is the first barrier before $22.4K which is a likely ceiling. If we selloff, we should continue to see support from $18.6K.
BITSTAMP:BTCUSDShort
by quantguy
Stocks and USD Hit BitcoinA strong US dollar and slumping stock market have impacted Bitcoin, which sold off from the $20K's, giving up that handle and dipping into the $19K's again. We are seeing some meager support confirmed by green triangles on the KRI, as the Kovach OBV slumps with the selloff. We anticipate the range to hold between $18.6K and $20.7K, with $17.6K a likely floor. Watch for the price to continue to drift to $18.6K, and play the range. A mean reversion strategy off of this range is likely the most profitable right now.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Finds Support Again at $20KBitcoin rallied, but yet again, this has proven to be a bull trap. We found immediate resistance at $22.4K, one of our technical levels. Resistance was confirmed by a red triangle on the KRI, and we subsequently dumped back down to support at around $20K. Though we are seeing support at $20K for now, it looks quite weak, and the Kovach OBV is trending down. If support breaks, the next level of support is $18.6K. The next level after that is $17.6K, which is likely the floor for now. If we are able to pivot off current levels, we do not expect BTC to be able to break $22.4K any time soon.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Clings to $20KBitcoin has been wavering in the high $19K's and low $20K's since the end of June. We just have not seen much buying interest in crypto. Strength in the dollar and weakness in stocks seems to suggest we won't be seeing any massive pumps any time soon. If we do, $20.7K and $22.4K are the next targets. If we retrace, we should see support at $18.6K, then $17.6K. The Kovach OBV is steadily rising suggesting a bull divergence. If we do see a breakout, $22.4K is a likely ceiling.
BITSTAMP:BTCUSDShort
by quantguy
1
Trend predictionI see there some possibilities to grow but it's only possible after long time side range. My statement mounted on the Wall St. Cheat Sheet chart (mostly) and technical analysis made by my own. I rely on cyclicality of market price moving, and as we can see the price of BTC dropped too much it's also broke the historical support/resistance line (20K) which was psychologically strong. The price of "bottom" (17.6k) wasn't redeemed rapidly in compare with previous "bottom prices". Looking at that I can conclude next: 1. It is not a bottom yet. 2. There is lack of Interest for both of sides but for buyers more. 3. The trend is going to change but still there is no clear vision for it's direction. The Market Cap is low; not strong but signs of recession; The war. The cryptos' isn't something essential for men living thing so better times have to coming, before it grows.
by srh_stk
1
Brief Rally in Bitcoin Fades FastBitcoin had a nice pop to our level at $20.7K. As predicted, we saw resistance at that level, and it was swiftly struck down, back below $20K, which seems to be a barrier for Bitcoin right now. We are currently wavering in the $19K's, with little indication of another pump anytime soon. We have tested a lower level at $18.6K, and appear to be headed there once more, which is not a good sign. The floor for now should be $17.6K, but after that we have a vacuum zone down to $15.1K.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Looking WeakBitcoin appears to have peaked for now just shy of $22K. There is very little buying interest at what would seem to be fire sale prices with respect to prices from just a few months ago. The price action is rounding off and the Kovach OBV is still hugging lows. Additionally, the contractionary GDP figure is likely to weigh on stocks which is not likely to help at all. We have broken the support level at $20.7K, and $20K is hanging by a thread. If that caves, we should see support in the $19K's, with $17K the floor for now. If we do see momentum come through, then $22.4K is a likely ceiling.
BITSTAMP:BTCUSDShort
by quantguy