BCryptological

BCryptological

For the past week Bitcoin has been moving within a symmetrical triangle , unfortunately not the most helpful of chart formations as it can indicate both a continuation or a reversal. Though perhaps unsurprising at such a pivotal level - we've been testing this support line around $6175 multiple times since June and so far it has always held. However, market...

BCryptological Updated 

The Stochastic RSI is a very powerful indicator of momentum in the market, and on the daily Bítcoin chart it is clearly showing that the bulls have likely run out of momentum. This is backed up by the low volumes the bulls are offering as they struggle to pass the strong $7120 historical resistance level , plus a Relative Strength Index which had been rapidly...

BCryptological Updated 

A very clear rising wedge is in play for XRP, combined with a primed Stochastic RSI, meaning a break through the bottom of the trend line down to $0.4 is highly likely in the next few hours (and bucking the trend, since most top coins are green to a few percent up at the moment - Ripple XRP may just be late to the party, with a nice move back up to follow). ...

BCryptological Updated 

With the daily Stochastic RSI absolutely bottomed out and a close to oversold RSI, it would seem likely to many that a big rally is incoming. But since we are in the slow descent to $5000, something similar to mid-June is far more likely... expect the next few days to see a modest rise of $500 from $7000 back up to $7500 resistance prior to the ETF decision. ...

BCryptological Updated 

Many insist that a bull run is "long overdue", but with the previous epic bull runs in mid-2011, early 2013, late 2013 and late 2017, we have a history of one to four years between each moonshot. Although we all know anything can happen in crypto, we can also look at what is most likely: It is less than one year since the last epic bull run, making anything...

BCryptological

All traders and investors should be aware of two sets of key dates in BTC: 1) The date that Bitcoin Futures contracts expire (shown on the chart in black in the past, and orange in the future) Futures contracts let traders bet on whether the price will rise or fall, without actually having to hold bitcoins. Whilst in principal the start of these should push...

BCryptological

When Bitcoin begins a retracement after a large pump (such as has begun today), BTC traders have three main options to prevent losses: withdraw to fiat move funds into Tether move funds into Binance Coin (BNB) All of these are temporary, until BTC finishes it's move down, and then funds can then be moved back into BTC for the next huge rise - which is...

BCryptological Updated 

In the days leading up to 10th June Stoch RSI was maxed out and RSI was approaching undersold. Inevitably a $700 one day drop occurred. In the days leading up to 22nd June Stoch RSI was very high and RSI was approaching undersold. Inevitably a $700 one day drop occurred. In the days leading up to TODAY Stoch RSI is maxed out and RSI undersold. A $700 one day...

BCryptological Updated 

The recent strong drops in BTC have naturally pulled down the 50 day moving average. Unfortunately since June 8th the 50 day moving average has also been acting as strong resistance. In this bear market expect more substantial drops over the coming weeks as BTC continues to clear out the dead wood. We are currently testing the absolutely crucial $6500 level. I...

BCryptological Updated 

Bitcoin has been flirting for some time with the critical support located around $6000-$6500, and each time the support has held strong. But continued failed attempts time and time again to push up to and through the critical resistance at $11500 is a very bad sign for the immediate value of BTCUSD... each failed attempt increasing the likelihood we will fall...

BCryptological Updated 

Sometimes the healthiest thing you can do in Bitcoin is zoom out and take a look at the big picture. It's only then that you'll realise that a rather fundamental pattern has been repeating throughout 2018... Following the hype at the end of 2017 and consequential bubble, January 6 marked the beginning of a huge drop removing more than 60% of BTC's value. The...

BCryptological

Having initially tested and failed to find much support on the 100 day moving average, Bitcoin went on to find first support and then resistance on the 200 day moving average. However yesterday's strong push by the bulls, took us straight back to the 100 day moving average and it has acted as strong support ever since. Momentum is definitely with the bulls...

BCryptological Updated 

Bitcoin has been firmly within this gently descending wedge since January 20th. Today is likely to mark our third attempt on its rising support level and the Stochastic RSI shows us nicely primed for an impending rise back up to wedge resistance at $8750 over the next few weeks - and possibly through it for a nice bull run. However , BTC has been at the floor of...

BCryptological

Having lost respect for the 200 Day Moving Average by dropping under in early March, this trend line is now predictably acting as strong resistanc e. Expect further failed attempts to push above it over the coming months. Add the Moving Average to your own chart to monitor Bitcoin's progress... Please give me a thumbs up if you agree. If you don't, please...

BCryptological

The BTC Stoch RSI and RSI make a clear case for a drop over the next 10 days or so. I believe we will test 7000USD once again, and fail to stay below it once again. While the long heralding push down to 6000USD remains necessary, it also seems increasing unlikely if the bulls keep having their way. After meeting resistance around 7000USD, we should expect a...

BCryptological

With the Stochastic RSI topping out at 99.5/99.5 on 15th April, along with a healthy 58.7 on the RSI, it appears inevitable that the next seven days will finally see the long-anticipated testing of the 6000USD barrier. I don't expect there to be enough momentum to get below 6000 (and we may even get stuck around 6800USD), so this could be an excellent entry...

BCryptological

With the Bitcoin daily chart in a strong buying mood, I see two most likely next steps: a) the buying momentum cannot be sustained and after another day or two of good gains, we'll finally begin the descent to 6000USD b) the bulls drive us back up to challenge 11000USD once again I consider option A to be 85% likely. How about you? Please hit the thumbs up...

BCryptological

With all indicators in the BTCUSD one day chart showing we are primed for a rally anywhere up to between 8000 and 11000USD, the key question is when this will actually begin. Many have prophesied that Bitcoin will go down to 6000USD before the impending upturn, but there is strong resistance to be found at 6400USD which we have tried to pass four times over the...