April 19th, 201912View
Bitcoin suffered a rising wedge breakdown, or bearish reversal, on the hourly chart earlier today. The bearish view, however, has been neutralized by the quick bounce from the key support near $5,170.
Acceptance below $5,170 would confirm a head-and-shoulders breakdown on the hourly chart and open the doors to $5,000.
A close below...
April 18th, 201920View
Bitcoin’s two-week moving average convergence divergence (MACD) histogram has turned positive for the first time since early February 2018, signaling a longer-term bearish-to-bullish trend change.
While the MACD is a lagging indicator, the historical data indicates the previous bull market began following a positive crossover on...
April 17th, 20196View
Bitcoin appears on track to end April on a positive note for the fourth consecutive year. The cryptocurrency is currently up 27 percent on a month-to-date basis.
Increasing that monthly gain look unlikely, as the bulls will likely have a hard time forcing a convincing break above multiple resistance levels lined up in...
April 16th, 201911View
Bitcoin’s rally from April 2 lows below $4,200 has stalled near the three-day chart’s 100-candle moving average (MA), currently at $5,238.
A three-day close (UTC) above that MA level could invite buying pressure, leading to a sustained move higher toward $5,500 and more.
That bullish close, however, looks unlikely in the...
April 15th, 201911View
Extremely overbought conditions and other factors seem to have stalled bitcoin’s promising price rally.
Acceptance below $4,912 would validate signs of indecision on the weekly chart (doji candle) and open the doors for a deeper drop to $4,527 (200-day moving average).
A break above last week’s high of $5,347 would...
April 12th, 201913View
Bitcoin dropped to a low of $4,900 on Coinbase after a continued sell-off was seen from its April 11 breakdown. BTC has since moved back above $5,000 and is tentatively holding that line.
Prices remain bullishly above the 200-daily moving average at $4,548, but would flip to short-term bearish with a strong close below $5,000.
April 11th, 201913Bitcoin (BTC) has fallen back close to psychological support at $5,000 after a false breakout Wednesday.
The number one cryptocurrency by market valuation made a strong bullish break from an ascending triangle pattern yesterday evening at 18:00 UTC, reaching a peak of $5,488 on the Coinbase exchange.
However, that move was quickly...
April 10th, 201924View
Bitcoin has cemented a higher low and retained its bullish market structure on the daily chart after a hotly contested close on April 9.
The hourly chart shows bitcoin is trending inside an ascending triangle (typically bullish by nature) with a potential measured move to $5,885.
An exaggerated bullish divergence has formed on the...
April 9th, 201914View
Bitcoin’s “super guppy” indicator has turned green for the first time since January 2018 in a signal confirmation of bull bias on the daily chart.
The long-term 26-period EMA on the monthly chart has been crossed from below, signalling that the move above $5,200 has placed bitcoin in an official bullish upswing.