BITTREX:GLDBTC seems to be on the move and recently broke the first resistance level. If it surpasses the 2nd resistance, we can expect GLD to shoot up in price
Bitcoin has remained fairly stagnant for the past week. It has continued to bounce off of support but now it is squeezing in on a falling pennant. This could be potentially bad news for Bitcoin if it breaks its current support.
The S&P500 has been following a nice long-term trend. The current trend is making way for a bounce of 1-2% off of the rising floor. Additionally, the RSI and Stochastic confirms that the SPY has been oversold. Look for $250/share in the coming days.
Earlier today, BTC broke through resistance at $4200. The new floor rests at $3900. RSI and Stochastic are low indicating that BTC should touch its ceiling at $4200 before retracting to the new floor.
BTC is on the rise making my last, short-term run off course. BTC hit another high today and is up over 50% in the past 2 weeks. Even though there is good new behind Bitcoin, this percent increase is unstable as investor will soon be trying to cash in their profits before the dip.
Looking at the 1-day candles, the Slow Stochastic indicator has hung around 90...
After seeing an increase of over 50% following the split on August 1st, Bitcoin is now experiencing some resistance around $4300/BTC. Back on the 15th, a correction was made to $4000/BTC. After forming a nice rising pennant, BTC rose once again to the $4300 marker. Seeing resistance once again, BTC has been leveling out, possibly signaling an end to the bull...
After seeing an increase of over 50% following the split on August 1st, Bitcoin is now experiencing some resistance around $4300/BTC. Back on the 15th, a correction was made to $4000/BTC. After forming a nice rising pennant, BTC rose once again to the $4300 marker. Seeing resistance once again, BTC has been leveling out, possibly signaling an end to the bull...
