Ryan_W

Ryan_W

Bitcoin pushed higher than I expected when looking back at my April 29 analysis. Many called me wrong for being bullish then, and I'm sure I will be called wrong for being bullish now, but let's take a look at the chart. Bitcoin blew passed the 6.5k resistance and ran on to 8.4k before hitting a wall. This did not give time for the bulls to build a proper support...

Ryan_W Updated 

Bitcoin ended the bearish trend back in December 18. Since then the currency has risen quite significantly since it's low of 3120. From this point Bitcoin has continuously produced higher lows. Fast forward to more recent history. April 2 we see a huge spike in the price of Bitcoin. This should not be ignored as there was a massive rise on volume with it. As...

Ryan_W

Since touching the bottom of $0.25 in September 2018, XRP has continued to produce higher lows. Though we will discount the Swell pump as that is something that typically happens yearly with XRP. Post Swell saw XRP return to the $0.28 region. In recent history XRP has found that $0.38 is a key level of resistance. Every time that XRP has attempted to breach this...

Ryan_W

XRP is most definitely bullish short-term. Looking at the long-term resistance line we can see that the bulls have hit this line a total of seven (7) times. With every subsequent hit the resistance becomes weaker and weaker. It is likely, then, that the next push with any kind of volume of note is going to break the resistance line and invigorate the bulls. The...

Ryan_W

Bitcoin is on the move and testing the top of the descending channel that it has established since reaching a Wave 1 peak back on December 24. What we are currently looking it is, likely, a breakout move into a Wave 3 by the bulls after the Bears got tired of waiting on timid bulls and pushed with a rather weak showing. This has emboldened the bulls and has pushed...

Ryan_W

Mid-December Bitcoin shrugged off the yearly low with a strong bounce and quickly tested the previous support now resistance line (Pink line), which has been in place since 2015. Since that time Bitcoin has been trending lower and lower in what can be seen as a falling wedge. Through January 13th the RSI indicator for Bitcoin continued to show increasing bearish...

Ryan_W

BTC appears that it is playing out a complex Wave 2 correction. Though, there still stands a strong possibility for a dive under 3k (And subsequently a push to 2k by the bears), the fact that BTC closed at $3430 on the 78.6 is a fairly suggestive sign. As well as currently being in a falling wedge. This, in my opinion, places BTC in favor of the bulls at the...

Ryan_W

Since the ATH of $20k a year ago Bitcoin has continuously failed to break above resistance as well as stepping down in dramatic fashion bashing against the support at 6k until the bears finally broke through sinking the cryptocurrency to a low of nearly $3k. The bulls have shown resilience since the fall on November 12 at maintaining the price of BTC over 3k. This...

Ryan_W

Without a doubt global markets are facing a period of uncertainty after reaching "New paradigms," and the American stock markets looking to be concluding "The longest bull-run in history." Upon learning this while watching traditional stock market reporting I immediately sold off all my stocks. Could I have missed out on some profit, could I be wrong in my...

Ryan_W

BTC has yet to fully convince me of a trend reversal. Though in the short term I am bullish, I believe that Bitcoin bulls will falter around $4170 with the completion of this C Wave of an ABC Correction. Before that we have a fairly clear 5 waves down. $4.2k comes up right next to the previous support now resistance line established back in 2015. At this time it...

Ryan_W

"There are shallow rollers, and there are deep rollers. You can't breed two deep rollers... or their young, their offspring, will roll all the way down... hit and die. Bitcoin is a deep roller." Bitcoin's fall below the support line established in 2015 remains a source of contention and debate within myself. With the lack of buying pressure and the ever-mounting...

Ryan_W Updated 

The end of November saw Bitcoin breaking below a supporting trend line that has been in place since August of 2015. This is a rather significant event with the failure of Bitcoin bulls to bring the price back above the supporting line and hold the position. This has reinvigorated bearish sentiment, and displayed a lack of buyer interest. The recent breakdown of...

Ryan_W Updated 

Looking at BTC from the very beginning we can chart a long-term EW at play. From inception to Bitcoin's first rise to $1200 being wave 1. After that we have the Mt. Gox hack and correction that brought Bitcoin back down to $250. From there Began a rise into Wave 3 reaching it's pinnacle at the $20,000 mark that we saw in recent history. This has since pushed BTC...

Ryan_W

With the fall of Bitcoin and a continuation of the bear market the decoupling of XRP and its place as 2nd largest crypto would appear to be one that will be short lived. On the daily chart XRP has produced a lower high, and as Bitcoin moves the majority of the market moves the case is not in favor of the bulls. All eyes on BTC and its movements to give us an...

Ryan_W

XRP has led the way as the first major sign of the resurgence of the Bitcoin bull market. As noted in my BTC analysis Bitcoin is in a consolidation period after definitively ending the bear market on June 24. XRP is showing us that the bear market is, indeed, over and that the bullish mindset of the market is returning. We turn to the pre-Swell XRP pump. Looking...

Ryan_W

The Bitcoin bear market ended on June 24 when BTC hit a low of $5760. Since then Bitcoin has presented us with a series of higher lows and lower highs in a very drawn out consolidation pattern. Much to the dismay of many analysts and traders alike who are used to the quick movement and plenty of volatility in the crypto-space. To further support this idea,...

Ryan_W

XRP has demonstrated a repeated pattern a number of times. The chart says it all. Expecting the next primary Wave 3 to target $1.00. With the upcoming announcement of xRapid going live and Swell on the horizon the odds are in the bulls favor. With the market, as a whole, bullish and the recent rise of Bitcoin that is likely to break the long-term resistance...

Ryan_W

BTC faces the long-term resistance that it has been unable to overcome since reaching its peak of $20k. Every time, thus far, Bitcoin has failed to move over this resistance. Interestingly, the last two falls have pinged off the 61.8 Fib level. BTC has not yet done so, and is likely to repeat history. The 61.8 lies at $6900. If the bulls failed to move over this...