Bitcoin fell approximately 14% since our last update in which we boldly stated BTCUSD would not reach a new all time high in 2022. We pointed out that the price of Bitcoin retraced towards its 50-day Simple Moving Average which represented a correction of the downtrend, seeing the price bounce back to 45 850 USD. We also stated that the volume kept falling while...
Bitcoin rallied over 34% since its low on 25th January 2022. Rally has been fueled by speculation that the FED would not raise interest rates as aggressively as it projects. However, we think the FED will be forced to raise interest rates at least twice this year, primarily due to high inflation which poses structural risk to the global economy. Therefore, we...
Bitcoin reached a new low of 33 503.40 USD. Much has not changed since our last update on BTCUSD. We continue to maintain a bearish stance on the cryptocurrency market overall. We expect the downtrend to continue and our view is still supported by bearish fundamental and technical factors which are detailed below. Since our two latest price targets were reached...
Bitcoin formed a new low at 37 683.90 USD, shy just 183.90 USD of our latest price target. We continue to be bearish as technical factors suggest more trouble ahead for BTCUSD. We expect weakness in the general stock market to drag lower prices of cryptocurrencies with it. Additionally, we think rotation out of the cryptocurrency sector into the precious metals...
Bitcoin fell below 40 000 USD and reached our latest short-term price target. Additionally, it reached an oversold condition which made us reassess our views. We think a price bounce from its current level towards 46 000 USD is very likely. However, we are very cautious and expect the downtrend to resume after retracement is completed. Though, we are open to...
Bitcoin trades slightly above 46 000 USD and we continue to maintain bearish notion on it. Our short-term price target of 42 500 USD remains in place. Technical analysis - daily time frame RSI is bearish. MACD flattened out before crossing above 0 points which is also bearish. Stochastic is bearish too. DM+ and DM- show bearish conditions. ADX started to...
Bitcoin reached our short-term price target of 42 500 USD yesterday. We continue to maintain a bearish stance on Bitcoin and we expect selling pressure to be persistent. Our view is supported by bearish technical and fundamental factors. We view hawkish minutes by the FED as very bearish for the whole cryptocurrency market. Faster pace of tightening and increase...
We continue to maintain a bearish view on Bitcoin as it continues to trade below the neutral zone. Since Bitcoin's rebound from its recent low at 41 967.50 USD on 4th December 2021 Bitcoin continues to make lower troughs and lower peaks which is indicative of the bearish trend. We expect an eventual retest of 41 967.50 USD price level and possible continuation of...
Our current setup on BTCUSD offers two alternative scenarios (with confirmation coming on a bearish/bullish breakout). Today, another bearish breakout below 48 834 USD support level took place. We continue to maintain bearish stance on BTCUSD as technical and fundamental factors point to more downside in the cryptocurrency market. We expect eventual retest of the...
Bitcoin broke above 50 000 USD in tandem with our expectations of a bounce in price (which we expect to be short lived). Currently, BTCUSD trades around 50 500 USD price tag; simultaneously, it trades within the neutral zone depicted in the yellow background. At the moment, we continue to maintain a bearish stance on Bitcoin. We expect an eventual breakout below...
Recently, we correctly predicted the double top formation in its early stage while noting that Bitcoin was near its cyclical peak. Additionally, yesterday we warned investors about the imminent retest of a key technical level around 53 000 USD. Then overnight BTCUSD fell over 20% to as low as 41 967 USD. Since then the price retraced back to 47 800 USD. We...
Today BTCUSD reached 55 000 USD in tandem with our expectations expressed in the previous 2 posts. Currently, it trades around 54 600 USD per coin. We continue to be bearish on Bitcoin as technical analysis continues to support this thesis. We think current weakness in the global markets will be persistent in the short-term. Additionally, we think that this...
BTCUSD continues to move sideways within rectangle formation as bullish trend is losing momentum and becoming neutral. Bitcoin currently trades around 60 900 USD pricetag; and we are currently bearish on BTC as technical analysis on daily time frame supports this thesis. We expect eventual breakout below the neutral zone. Additionally, we expect such occurence to...
Last week we correctly predicted bearish breakout below the neutral zone. We also noted that we expected retest of 55 000 USD price level (BTCUSD stopped its decline at 55 640 USD). Since then price action continued to be choppy. We think it is possible for BTCUSD to retest 55 000 USD price level again in the following days. Technical analysis supports this view...
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In our last idea on BTCUSD we pointed out that Bitcoin was very overvalued in short-term and due to correct. We layed out two possible scenarios for BTC. In first scenario we expected BTCUSD to correct and then resume bullish trend. In second scenario we expected BTCUSD to reverse bullish trend through double top formation. Now we are inclined towards second...
BTCUSD reached new all time high today as Bitcoin ETF reached over 1 bn. USD in AUM within just two days since it started trading. We previously noted if new all time high was reached then it would force us to change our stance from bearish to bullish. We also noted that we expected price to continue rise in case of breakout above previous all time high. We...
Paris Saint Germain PSG Fan Token analysis PSG USDT has reached a strong weekly demand level around 23.85 price level. This is a great opportunity to buy PSG fan tokens for those of you who trade cryptocurrencies and fan tokens. Fan tokens are a type of cryptocurrency that allow holders to vote on mostly minor decisions related to their clubs. Among clubs to...