Bitcoin Technical Analysis: BULLS HANG ON…FOR NOW

Bitcoin has managed to hold onto most of it’s gains over the past 3 days. As of writing this, $3,600 is acting as support once again. Volume has slowly dropped off as many are waiting to see if this was a bull trap.

Looking at the daily chart, we can see price found resistance right at the upper Bollinger band. This corresponded almost perfectly with the 50 day MA (Orange line). A decisive break about the 50 day MA (on the daily chart) would be significant IMO.

Long positions remain stacked while shorts have fallen off significantly. This low volume market makes

Bitcoin, EOS, Ethereum and Ripple Analysis: BREAKOUT

Bitcoin has been consolidating within a falling wedge these past couple weeks. Today it broke out of that wedge with a nice increase in volume behind it. Volume is no where near where it needs to be for a sustainable bull run, but that’s not to say it can’t get there.

EOS broke above the known $2.45 resistance. The next major area of resistance is $3.00. If it can remain above at least $2.70 today, it could be a sign this bullish move has legs.

Ethereum bounced nicely off the known $100 phycological support. It’s currently trading around $118. The next major

Bitcoin, EOS, ETH and Ripple Analysis: QUICK UPDATE

Bitcoin has broken below the $3,400 support, currently trading around $3,365 on Coinbase. Volume remains weak.

EOS seems unable to break above the $2.45 resistance, currently trading at $2.36 on Bitfinex.

Ethereum continues to bounce right above the psychological support of $100 on Coinbase.

Ripple is still operating within a falling wedge, currently trading around $0.29 on Bitfinex.

In today’s video analysis I discuss, where prices may be heading next, various trade setups I’m waiting on and so much more. I hope you find it helpful.
Video Analysis:

 

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope

Bitcoin Technical Analysis: CONSOLIDATING BEFORE NEXT MOVE

Bitcoin continues consolidating right on top of the 0.786 fib level. It’s been testing the top of what appears to be a falling wedge, but has yet to break out above. Volume remains weak.

In today’s video analysis I discuss, where price may be heading next, a possible trade setup I’m preparing for, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:

 

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until

Bitcoin Technical Analysis: BULLS STRUGGLE… IS A LARGER MOVE COMING?

Bitcoin continues to bounce on top of the $3,400 support (on Coinbase). Volume has been declining over the past 48 hours.

Zooming out on the weekly chart, we get much better perspective on just how bearish this overall trend has been. Price broke below the $3,600 support. When it tried to break back above, $3,600 began to act as a strong resistance. The weekly chart suggests price may retest the prior low of $3,130 (on Coinbase). I’m not saying it will, but it’s a very real possibility. I discuss this much more, as well as the bullish scenario, in my video

Technical Analysis for Bitcoin, EOS, ETH and XRP: BRIEF OVERVIEW

Bitcoin has broken back below $3,400 (Coinbase).

EOS is hovering around $2.27 (Bitfinex) and seems to be eyeing the $2.11 support.

Ethereum is sitting on the $100 phycological support. If that support breaks decisively, we could see it fall as low as $80.

Ripple (XRP) looks to be operating within a descending wedge. While this is a bullish pattern, it may get worse before it gets better.

In today’s video analysis I discuss, traps to avoid, where prices may be heading next and so much more. I hope you find it helpful.
Video Analysis:

 
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or

Technical Analysis for Bitcoin: Quick Update

Bitcoin finally broke down below the $3,500 support it’s been hovering on for the last 2 weeks. It dropped to the known $3,400 support and is currently trading around $3,430.

Looking at the daily chart we can see bitcoin bounced right off the bottom Bollinger band.

In today’s video analysis I discuss, where price maybe heading next, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:

 

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment

BTC 22 Jan – Medium-term update

BTC broke out of my previous converging triangle. What does that mean?
In my post of 15 Jan, I published a converging triangle and spoke of an impeding breakout. This was the main image I used in that post and its follow-up post on 18 Jan:
After entering the “Breakout Zone” BTC broke out in a downwards direction. This presents a small problem because the breakout wasn’t definitive: yes it left the triangle, but not by much (as seen below).    
I now see two possible scenarios:
 
Scenario 1: Lower BTC prices
BTC may drop lower yet again – probably to one of

BTC 18 Jan – Medium to Long-term forecast updates

This post is a look at how we are doing based on previous forecasts, and consequently what we can expect in the medium to long-term future.

A Bit Brain original

BTC 18 Jan – Medium to Long-term forecast updates

On 15 Jan I published a medium-term BTC forecast. The chart below is taken from that post, unmodified but for the candles that have been added since then.

So far the post holds true, BTC is still in a tapering triangle, fast approaching the breakout zone. It will reach the breakout zone approximately 24 hours from now. From that point onwards a breakout becomes likely,

BTC medium-term – 15 Jan

A look at the medium-term future of BTC as I see it.

BTC is forming another converging triangle, making a breakout a strong possibility from next week.

The lower side of the triangle seems to have been defined. This is not a certainty at this stage – it’s not impossible that a near-future price drop redefines the triangle. I would say that there is about a 65% probability that the triangle is now in it’s final form and will not have to be redefined.

A trendline which started on 6 December continues to be my benchmark for current price movements.

The typical Breakout Zone