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Tag Archives: analysis

Bitcoin Price Analysis 24th June

BITCOIN MARKETS THIS WEEK. . . This week, bitcoin was largely in a retracement, down to support at $240, following profit taking after the past 2 weeks of a decent run up. As a former resistance level in the past 2.5 months of restricted range bound sideways action, $240 is holding well. The range now is within an upper $247 ... Read More »

Bitcoin Price Analysis 18th June

This week, the price of bitcoin spiked to a high of $259, an 8% rise in a span of 48 hours. Typically, market participants and mainstream media hopped on board, looking to find reasons to justify this run up; on the back of dull trend that has characterized the past 3 months. A double bottom, a common technical reversal pattern, ... Read More »

Bitcoin Price Analysis – Jun 9th

This week, besides the past 36 hours, BTC markets have not elicited much excitement since last week’s bottom at $219. After last week’s drop, in what has become the norm, a sideways trend took over, trading within a $ 3 range bound by $225 upper and $222 up. Notably, a spike on June 5th, shot up to $230 within a ... Read More »

Bitcoin Price Analysis – Jun 3

This was bitcoin this week, since May 27. A classic candlestick hammer (highlighted) indicates lower prices have been rejected; safe to call it a bottom for now as prices are now at $ 225. The slow decline from $240, followed by an impulse drop most recently, on June 1st that broke support at $ 230 all the way down to ... Read More »

Bitcoin Price Analysis – 27th May

In terms of dullness and inactivity, bitcoin price action this week was markedly better than last week. After Tuesday’s dip down to $229 to test weak hands (longs) and trigger stop losses, prices have been went up for a while, peaking at $243 on Sunday. Since then, declines over the past 2 days, seemingly resemble what happened 2 weeks ago ... Read More »

Bitcoin Price Analysis May 5th

Bitcoin Markets this week This week, prices continued a trend up, after last week’s bottom at $213. Red support line shows how far up this week’s action was, topping out at $243. Admittedly, my forecast of a retest of $200 lows (and possibly lower) has been delayed. Short term market sentiment is now bullish, after a midweek green candlestick spiked ... Read More »

Bitcoin Price Analysis April 29th

Are we expecting double digit bitcoin prices? First of all, here is where prices are on a 1 year outlook This week, market price of bitcoin played out like we expected – a slight uptrend, that encountered our target resistance at $240 before going down. Early signs of this uptrend unfolded as an ascending triangle, breaking out to the upside. ... Read More »

Bitcoin Price Analysis April 22th

This week on Bitcoin . . . Bitcoin prices were largely uneventful this week, with no major decisive move on either side. Since prices impulsively dipped to find support at $220 zone, sideways consolidation is tapering; as spreads thin out, terminal ends mark a break out on either side. A decision point is unfolding, as market thins and forces either ... Read More »

Bitcoin Price Analysis April 14th

There will be blood. This week, our bullish forecast last week played out favorably and is still unfolding with prices now at $217. After a dull flat sideways trend, prices were unable to break a ceiling at $262. This resistance was marked a last attempt at higher prices but, collapsed, resetting the bearish trend we have been expecting. Consecutive support ... Read More »

Bitcoin Price Analysis April 7th

Will this market crash today or tomorrow? This past week, bitcoin’s price action did not exhibit much change from last week’s price analysis. Besides an attempt to break out from a range on 6H charts, prices moved mostly sideways. $262 has been the highest price in what seems like channel breakout. However, prices are still held within a range with ... Read More »

Bitcoin Price Analysis March 31st

This week the market was mostly in a correction, consolidating sideways while gradually retracing from the bottom in what I observe to be a corrective wave. The last impulsive drop from $280 and $270 exhibited a similar pattern. A 3 wave motive move to the bottom, with intermittent corrections. Retracement up from $247 to $271 was a 50% retracement – ... Read More »

Bitcoin Price Analysis 25 March: Is Bitcoin Headed Towards Fresh Lows?

Last week, I wrapped up my Bitcoin analysis with a forecast of a successful test and break of $ 300 resistance. Unfortunately, events unfolding after publishing catalysed a break to $260. News of Evolution’s stolen bitcoins, possibly spooked the market and gave it more reason to head lower. A meltdown that began by breaking $283 level, further going on to ... Read More »

Bitcoin Price Analysis 17 March

Is Bitcoin’s price in a major reversal? This past week, Bitcoin’s price held fairly well, trading within levels of $281 and $302. As per charts, $300 has been a resistance that for bulls attempting to break out. After the $300 resistance level is a long term bear resistance trend line – sloping slightly above $315. Multiple attempts to break past ... Read More »

Post-Auction Bitcoin Price Analysis

The past few weeks have been very hectic in the Bitcoin community due to the excitement of the US Marshals’ Silk Road Bitcoin auction. About two weeks before the auction, the US Marshals posted on their official website that they would be selling off 30 thousand of the bitcoins seized in the Silk Road bust on June 27. This announcement ... Read More »