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Tag Archives: analysis

Bitcoin price analysis 14th October

BITCOIN MARKETS THIS WEEK This week the price of bitcoin mostly trended sideways, after breaking resistance at $241 and heading up to a peak at $249. What followed was a consolidation, a counter reaction to the preceding sharp rise. A slow grind downtrend followed and found a bottom just above $242, reaffirming this level as strong support. The tweezer bottom, ... Read More »

Bitcoin price analysis 6th October 2015

This week, Bitcoin markets settled at a bottom, $ 235.11 and has been trending up since to current high (as of writing this) at $243. The most recent leg up was a $ 6 move up following consecutive green candles attempting to break past resistance at $ 240. This upper resistance level, was last reached on September 9th, after breaking ... Read More »

Bitcoin price analysis 30 September 2015

This week, bitcoin’s price broke out strongly to the upside, a scenario expected in last week’s analysis. $224 was the final bottom, a firm base for a thrust up to $233 from the downtrend channel preceding this low. Breaking out of the downtrend was ultimately to be followed by a short run up in price, seen here as another trend ... Read More »

Bitcoin Price analysis 23rd September

This week, bitcoin traded mostly in a sideways trend, with limited upside and downside breaks. $236 and $224 were the highest and lowest respectively; defining the range for this week’s price movement. $227 was a bottom for a $10 run up on Wednesday and Thursday, before retesting lows at $224 and moving up $10. It is now on a consolidation ... Read More »

Bitcoin Price Analysis 16 sept 2015

BITCOIN PRICE THIS WEEK This week, bitcoin’s price gradually declined to a low of $ 227, from last week’s $ 240. It has been a slow grind down from the past 4 week high, $ 247. Trading is now ranging within the rectangle, on a sideways trend that almost always precedes a break out. Up or down? “If bulls can’t ... Read More »

Bitcoin Price Analysis 10th September

THIS WEEK ON BITCOIN This was price action observed this week, from last week’s price analysis (highlighted). A predominant sideways,, range bound action featured last week, but was bound to break out at some point. On 5 September, market broke out upwards from a $233 – $225 trading range. The first signal of an upper break out was naturally followed ... Read More »

Bitcoin Price Analysis September 2nd

This was price action this week – an uninspiring sideways trend with a bit of bullish intent that failed at $239. The rest of it was Meh. Since turning from bottom at $196.6, volume is visibly thin after a V-channel retracement going up till $230. The dragon-fly doji pattern at $296 vindicates the move that followed, but looks suspect after ... Read More »

Bitcoin Price Analysis 27th August

After last week’s flash crash on Bitfinex, that dragged the market down to low 200s – $220 on most exchanges vs $162 on BFX, the market retraced up this week to a max high of $236. That was about it in terms of buying interest as the prices traded within a sideways 10 dollar range – upper ceiling of $236 ... Read More »

BitFinex FlashCrash – Post-Mortem Analysis

On August 16th, just before midnight (UTC), Bitcoin markets were in a moment of temporary panic, about 30 minutes after a flash crash incidence on one of the world’s largest exchange (by liquidity) BitFinex. Wikipedia describes it as “A flash crash is a very rapid, deep, and volatile fall in security prices occurring within an extremely short time period.” A ... Read More »

Bitcoin Price Analysis 19th August

Bitcoin Market Fundamentals FinCEN, new ruling on commodity backed digital assets This week, Coindesk reported FinCen’s response to an anonymous company inquiry, ruled that asset backed virtual currency tokens were not exempted from money transmitter laws subject to some preconditions. For instance companies working with tokens and coloured coins that allow customers and 3rd parties to exchange certificate of deposits ... Read More »

​Bitcoin Price Analysis 12th August

BBVA Bank of Spain on mainstreaming Bitcoin BBVA bank, Spain’s second largest bank, this week released a video tutorial on how to send and receive payments via bitcoin! The video, walks users through the process of opening a wallet, backing it up, purchasing and sending bitcoins. It also simultaneously released a report on blockchain technology title Blockchain technology poised to ... Read More »

Bitcoin Price Analysis 5 Aug

Greek Stocks Tumble on 1st day Re-open Shanghai’s Stock exchange poor run was overshadowed on Monday by Greek stocks, falling 23% below open. This was the first day of trading after a 1 month hiatus over EU-drama imposed capital controls. Banks stocks shed as much as 30%, despite strict controls on short selling and more measures to quell the market. ... Read More »

Bitcoin Price Analysis 29 July

This week was mostly a sideways range bound trend, that didn’t break out until Friday/Saturday. Marubozu – a flat ended long candlestick is common in break outs, to force past resistances or support. What followed was a gradual trend approaching $ 300 in a series of steps – highest top at $ 298. At the time of writing this, price ... Read More »

Bitcoin Price Analysis 22 July

This week, bitcoin continued in a correction; a pullback from a strong upswing that broke out of a 6 month long flat resistance at $316, 2 weeks ago. “A market correction refers to a price decline of at least 10% of any security or market index following a temporary upswing in market prices” (around $ 284) Thrusting above this significant ... Read More »

Bitcoin Price Analysis Jul 1

BITCOIN MARKETS, WEEK OF JUNE 23 – 30 This week, bitcoin continued its steady run up from 3 weeks ago; up from $219 to a high earlier today at $269. After encountering resistance at $259 2 weeks ago, price retraced in a consolidatory fashion, while firmly respecting support on $240. This level was to form a solid base for a ... Read More »