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Brief Rally in Bitcoin Fades FastBitcoin had a nice pop to our level at $20.7K. As predicted, we saw resistance at that level, and it was swiftly struck down, back below $20K, which seems to be a barrier for Bitcoin right now. We are currently wavering in the $19K's, with little indication of another pump anytime soon. We have tested a lower level at $18.6K, and appear to be headed there once more, which is not a good sign. The floor for now should be $17.6K, but after that we have a vacuum zone down to $15.1K.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Looking WeakBitcoin appears to have peaked for now just shy of $22K. There is very little buying interest at what would seem to be fire sale prices with respect to prices from just a few months ago. The price action is rounding off and the Kovach OBV is still hugging lows. Additionally, the contractionary GDP figure is likely to weigh on stocks which is not likely to help at all. We have broken the support level at $20.7K, and $20K is hanging by a thread. If that caves, we should see support in the $19K's, with $17K the floor for now. If we do see momentum come through, then $22.4K is a likely ceiling.
BITSTAMP:BTCUSDShort
by quantguy
ANALYSIS OF EVERY BTC HALVINGHello everyone, I would like to present what repeatability can be determined by analyzing the BTC chart in more detail, taking into account the 3 halvings that we experienced and the 4 that are ahead. We have a log BTC chart from 2011 to today in front of us. We will start by designating the places where BTC performed its halving, as you can see, the first halving took place in November 2012, the second halving in June 2016, the third halving in May 2020, and we also mark the halving which should be in June 2024. On the other hand, with white lines we will mark the middle between the halvings. We will use the green field to mark the intervals between the edible and the second halving so that we can see this space and repeatability more clearly. For the analysis, we will use the blue lines that represent the way btc moves, one line indicates the lowest price points and we see that btc touches the line many times, and in the same way we can mark the places where the price reached its ATH. It is worth noting that with the first halving, btc fell by about 86% from his ATH on the second halving he was down about 84% from his ATH at 3 halving so far the decrease from ATH is about 74%. The current low is at 74% where the blue line is, but BTC sometimes has a quick candlestick down which may be around 82% from ATH. Given the repeatability between halvings, the current maximum hole should be around $ 10,500 Now we use the mean tool marked with the purple line and we can see that on each halving as the mean passes through the half of the halving period, the cane consolidates and then the price drops below our purple line. Moving on, we can also see that after each drop below the average around the half of the halving, the price started to rebound and break the first trend marked with white line, as well as exit from the yellow area, then break the second trend and exit from the second yellow area. So the breaking of the first trend is a period of pro-growth and the break of the second trend is a period of pro-growth followed by price increases. Currently, we have not yet broken the first trend, taking into account the cyclical nature of btc and the fact that large capital is distributed similarly and all negative news is often already included in the price, we can assume that the situation will repeat itself. After breaking the second trend and breaking above the average, the price will start to increase again. At the end, we present a visualization of how the btc price may possibly move in the coming time to the next halving, we mark the path on which the price can follow with the white line. Please remember that these are not investment recommendations, everyone is responsible for their financial games, these are only our observations about the market and how the price moves.
BITSTAMP:BTCUSDLong
by cryptodailyuk
5
Recession Fears Impact BitcoinBitcoin sold off with stocks, testing the lower $20K's. It is hanging onto the $20K handle by a thread. Despite the stock selloff, we were starting to see increased resistance in the low $20K's confirmed by red triangles on the KRI and were unable to test even the first level of the $20K's at $22.4K. The Kovach OBV has slumped, suggesting we will not make another attempt any time soon. If it dumps further, then we should see support at $19K with a floor at $17K. If we are somehow able to break $22.4K, then $23.9K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Struggles to Maintain the $20K'sBitcoin is encroaching upon the $20K's, after dipping to the low $17K's this weekend. We are seeing incredible resistance here confirmed by several red triangles on the KRI. We have made it to $21K albeit barely, but a burst of momentum is necessary to solidify the $20K's. If this comes through, watch $22.4K and $23.9K as the next targets. If we do not see momentum come through, there is a strong chance of a rejection, which could take us back to the $19K's or lower. Expect $17K to hold as a floor price for now.
BITSTAMP:BTCUSDShort
by quantguy
2
Bitcoin Rebounds from Lows!!Bitcoin plummeted over the weekend, bottoming out in the low $17K's. We have tested highs from the rally in 2017, which we anticipated would happen at some point in many of our reports here going back to November 2021. We have since equilibrated and found footing, with a rally taking us back to $20K. We are meeting resistance here confirmed by two red triangles on the KRI, but the price action appears to be consolidating, readying for a potential breakout. If we are able to break out, the next targets are $22.4K and $23.9K. If we break down, expect $17K to hold as a floor price for now.
BITSTAMP:BTCUSDLong
by quantguy
When Will Bitcoin Bottom??Bitcoin has slumped forming a bear wedge pattern at lows. The low of $20K seems to be providing good support for now, but the lack of buying interest is concerning. The Kovach OBV is picking up slightly, but we are seeing a lack of follow through in the price action. If we do cave further, we should have strong support from $19K, a major Fibonacci level on the daily charts. We expect this to be the bottom for BTC. If we do pick up, we must break $22K, then $23.9K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Rally FadesThe FOMC event did little for crypto. The Fed raised interest rates by 75bps, the biggest hike since 1994, to combat the highest inflation we have seen in 40 years. The hike was largely priced in and stocks rallied a bit as a consequence, taking the crypto market with them. Bitcoin tested $22.4K, and swiftly rejected it, after red triangles on the KRI confirmed resistance there. We are seeing support from $20K, which we anticipate to hold as a floor price, but if not, $19K is the next target.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Pivots! Is this the Bottom??Bitcoin extended its decline all the way down to $20K. We fell down to our lower level at $20.7K exactly, before we finally got a pivot back to $22.4K, where we are establishing value now. This is exactly the type of pivot we would expect from crypto at a relative low. It is unlikely that Bitcoin will dump much further, for now at least. But the Kovach OBV is still abysmally bearish and resistance at $22.4K seems to be holding strong. There is an FOMC event tomorrow, so the markets are likely to be quiet, and we can expect BTC to range a bit, establishing value before the event.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin at Year Lows as Crypto Market DUMPS!! 🤯📉The crypto market was absolutely annihilated last night as the APAC session sold off hard in reaction to the CPI print on Friday as well as their view of the Fed's reaction to it. Bitcoin smashed through the lower bound of our range at $27.9K. We had been holding this range for one month. We warned that Bitcoin holding a range for that long with such little buying interest was a likely sign we would dip further. However, we have smashed through our low from May 12th at $25.1K, finally finding support at $23.8K. If support fails here, the next level of support is at $20K, which is only $1000 from $19K, which we anticipate to be the low. Dedicated readers will remember us calling out this level back in January. We don't seem to see much buying interest but if there is a pivot, $25.1K should provide resistance.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Hovers at $30KBitcoin has remained confined between $27.8K and $32.3K for just about the past month. Every rally seems to be swiftly batted down. Even within this range, volatility has consolidated immensely and we are hovering right about $30K, giving it up by a thread. The Kovach OBV is completely flat, however there was a selloff in stocks yesterday, and very thin trading in crypto, both of which are bearish signs. Expect support from $28.8K and $27.9K, then $25.1K should hold as an absolute floor for now in the worst case. Bitcoin is struggling to maintain $30K, and we must break through significant resistance around $31K and $32K before considering higher levels.
BITSTAMP:BTCUSDShort
by quantguy
1
XTZ - Tezos. The Next BIG thing!? XTZ Tezos, the self-amending cryptographic ledger now has been backed by the biggest stable coin USDT. This will help XTZ succeed further more. Tezos fundamentals are very strong as its already ahead of the POS competition. "Tezos is also unique because of how it has started to be used by high-profile businesses. In September 2020, it was announced that the French banking giant Societe Generale planned to use this blockchain for experimenting with a central bank digital currency." "Big cryptocurrency exchanges such as Binance and Coinbase have also unveiled support for Tezos staking, meaning users can receive rewards based on the XTZ that they hold. This is not a feature that’s seen too widely across digital assets." "Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers." If Tezos can bounce from this support and consolidate. It may be the next BIG thing long term. My future price target is - 30.00 approx.
COINBASE:XTZUSD
by Samabby