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Tag Archives: analysis

Bitcoin Price Analysis March 30. 2016

This week  the price of bitcoin has been moving up in a series of higher lows, from a low bottom $382, but, only marginally moving up from a sideways trading range active since the first week of March. This 12 hour chart from Bitstamp shows $420, a resistance and support level, tested multiple times in a bid to break up ... Read More »

Bitcoin Price Analysis March 15. 2016

This week, the price of bitcoin continued its retracement from March 5th’s $382 low. Price action was limited to a $10 range flanked by $420 on the upper and $410 on the lower end. Breaking above the $410 resistance was necessary, after two attempts at breaking, it finally caved on March 8. On the days that followed, $410 held strong ... Read More »

Bitcoin Price Analysis March 9. 2016

This week, a wedge price structure fell sharply through $416 support to the downside, falling to a low $382. This was after trading in a $10 range, between $416 and $424. $382, an expected target on the downside has forced a retracement since March 6, correcting up to $416, now a resistance. Trades are settling at $409 on Bitstamp as ... Read More »

Bitcoin Price Analysis March 2. 2016

This week, bullish sentiments across the market have almost hit fever pitch. Traders are all watching the same pattern unfold, since November 2015, a high probability upper breakout. Raoul Paul, ex- Goldman sachs hedge fund manager tweeted this chart above saying “On the subject of Bitcoin, this wedge offers a high probability of a big upside breakout soon.” Because almost ... Read More »

Bitcoin Price Analysis 20-Jan-2016

This week, the price of bitcoin fell 18%, weighed down by negative sentiments on systemic risk – blocksize fork debate. Price fell off a cliff at $431 on January 15, 1am UTC + 3, in a series of dumps all the way down to a low $352 in 24 hours. December 3 was the last time price was here, and ... Read More »

Bitcoin Price Analysis 13 January 2016

This week bitcoin broke up to upside, contrary to my forecast from last week. The virtual currency moved up +6%, topping off at $466 while global fiat financial markets suffered under turbulence. Painting the Tape Perhaps it was the Chinese propping up price, fleeing stocks, devaluation and capital controls. In markets, bear moves have been known to fail in bull ... Read More »

Bitcoin price Analysis 6 January 2016

These last 2 weeks of bitcoin have been a contracting triangle pattern – flat top with a rising bottom (an ascending triangle wave pattern). Price bounced at a support at $ 406, and it has been grinding sideways since December 27th. It is part of a larger bearish drop from $ 464. I expect sideways action to break out to ... Read More »

Bitcoin Price Analysis 2nd January 2016

This week, bitcoin price was down from a high of $ 467 in last week’s analysis. The bear drop from a peak at $ 476 over Christmas, is part of a weak reversal from $ 300 that a failed to recapture $ 500 highs. This week’s drop exhibits patterns of consolidation and sideways action, before a break out. As of ... Read More »

Bitcoin Price Analysis Dec. 24

Over the past 2 weeks, bitcoin price went up from a low retracement bottom at $ 346, going up to $ 467, attempting to touch last month’s $ 504 high. This rise up has been anything but momentous, especially compared to the run up to $ 502. Low volumes have accompanied this rise up. At current price levels, the trend ... Read More »

Bitcoin Price Analysis: December 9

At the time of writing this, the price of bitcoin just broke out of the $380 – $ 390 resistance zone that has been pushing back on it this week. At $ 420 now, it is not a foregone conclusion that it has convincingly broken this level. From recent events, spike to $ 504 some weeks ago, it is not ... Read More »

Bitcoin Price Analysis – 25 Novemebr 2015

Since the 1 year high at $504 on November 4, price has been on a decline, surprising many who expecting an aggressive bull run, however. Corrections are part of market cycles, and necessary, like the current price action. The past 3 weeks have been a correction of the parabolic move up from $ 240. (3)(4) was a flat sideways level ... Read More »

Bitcoin price analysis November 12

This week, the price of bitcoin behaved as expected on last week’s analysis – “A correction with a chance of more upside sums it up” More upside was exciting, flatlining at $ 430 and thereafter blowing past it, all the way up to $ 504. It was pretty exciting to witness the market in full euphoria. We have not observed ... Read More »

Bitcoin Price Analysis 4th Nov

This week was an exciting week for the Bitcoin market. Price was intent on going up, making it to a top 0f $ 423 on Western exchanges, and up to $ 442 on Chinese exchanges. The last time price was at these levels was in 2014, October, before a plunge to $160 low in late January. Bloomberg Business ran with ... Read More »

Bitcoin Price Analysis – 28th October

Bitcoin moved up higher this week, from a low at $ 262, to a high of $ 295. Here is this week’s 6H chart In last week’s analysis, I was expecting a correction to much lower levels than we found this week, before moving on up towards $300. $ 262 was the lowest support, from which the market bounced up ... Read More »

Bitcoin Price Analysis 22nd October

This week bitcoin went up 10%, trending up from $250 to a week high of $ 275. The market exhibited intent this week, moving up strongly on the back of equally convincing volumes. Looking at this chart from last week’s analysis, the market had to overcome resistance at $250 (4) before moving up higher towards 100 EMA target at $276 ... Read More »