Bitcoin ‘GOLD 2.0’ Overview: The double top is still in play. Today’s daily open marks the 3rd day we are at the level. Although yesterdays candle closed lower there’s really nothing in it. The pressure is building for a ‘pop’ top the upside to 8000 although selling pressure could also drop this market back to 7400 support. It’s good to see almost 8 days of...
Bitcoin ‘GOLD 2.0’ Overview: This mornings close looked shaped up for a blast of the double top to test 8000. However since open we’ve dropped $80 from the high back to the weekly open. This is a good position for the bulls to push some more with a retest of some lower levels to build up some more pushing volume. For the sellers they’ll look to drop the market...
Bitcoin ‘GOLD 2.0’ Overview: After a week of positive daily days being print we can see the Bitcoin market double topping at 7700 -7780 region. A break her to the upside will see price slam into the whole number and 8000 resistance. A break above 8000 will signal strength and 8500 will be the next target/sticking point to deal with. With 15 days approximately to...
Bitcoin ‘GOLD 2.0’ Overview: After yesterdays candle has closed as a dojo the following remains the same; …And a break to the upside we received with a $700 zoned candle opening the market today at 7500 level. Good to see strength here from Bitcoin to move out of the 7100-7400 zone , lets see if it keeps above this to test 8000. Or does ‘X’ mark the spot of the...
Bitcoin ‘GOLD 2.0’ Overview: And a break to the upside we received with a $700 zoned candle opening the market today at 7500 level. Good to see strength here from Bitcoin to move out of the 7100-7400 zone, lets see if it keeps above this to test 8000. Or does ‘X’ mark the spot of the next retest of a price level being the mid point of the downward channel and...
Bitcoin ‘GOLD 2.0’ Overview: Price opened at 7100 level rising within the triangle spoken of the last week. This triangle is a zone in price showing potential support and resistance areas and consists of the overall downward channel and the upper trend line from the inner downward channel. As the orange arrows depict this is the range in price Bitcoin has decided...
Bitcoin ‘GOLD 2.0’ Overview: Todays open is back on ‘that line’ after yesterday’s print of the daily doji. The longer we stay in this position the heavier this market looks. A break below the trend line (which will be back into the inner downward channel) will show that we are back in a bearish settlement and for buy pressure the market will need to stay above...
Bitcoin ‘GOLD 2.0’ Overview: Yesterday we wrote ‘Indicated on the chart is an orange triangle where if price doesn't break the midpoint this will be the trading range and thus will consume price for the following days if not weeks if price is to progressively fall.’ As we can see price tested the 7200 region yet couldn’t penetrate and break although buyers did...
Bitcoin ‘GOLD 2.0’ Overview: Bitcoin saw a push down in price from the mid point of the downward channel down to 7100. Todays open although a drop to could see price retest the midpoint area around the 7200 mark, noting if respected on the daily it will continually have a reducing value (For support and resistance areas). For strength price needs to move up above...
Bitcoin ‘GOLD 2.0’ Overview: Bulls broke out of the $150 trading range to push and open at 7200 area, bang on the downward channel midpoint as discussed in previous posts. We’d love to see Bitcoin punch up above the 7400 resistance level from this mid point to assist projection to the north. At 7400 a double top will form so its imperative for the buyers to blast...
Bitcoin ‘GOLD 2.0’ Overview: Structurally if bulls wish to take control and push this market up they’ll have to push past the mid point of the overall downward channel above the price point of 7250 and contend with the resistance at 7400. Yesterday although breaking above 7000 we’ve been in a $150 price range and open to day has not seen much action so far. If a...
Bitcoin ‘GOLD 2.0’ Overview: We’ve had a break to the upside and thus far very little movement from the daily open. As the heading of todays writeup stipulates we are watching price action above this inner downward channel top trend line. The fact that the bulls pushed the market to over 7000 is a good sign although as stated yesterday we are ramming I not the...
Bitcoin ‘GOLD 2.0’ Overview: 6400 support in the zone. After yesterdays open near the inner downward channel bears took control pushing downwards to the 6600 mark. We see open at this point and drop currently at 6500 pushing past the low we spoke about in yesterdays write up. From here this market could retest the upper channel trend line , however 6400 support...
Bitcoin ‘GOLD 2.0’ Overview: After 4 days of daily opens near the 6800 mark we see price has respected the downward channel upper trend line, rejected and stabilised around near candle open. For bulls to come in a show strength they need to break this inner downward channel upper trend liner and move up to the mid point of the larger channel, at about 7300 for...
Bitcoin ‘GOLD 2.0’ Overview: Last weeks close tested the Downward channel mid point, 7400 Resistance the inner downward channel top channel line and closed on top of the inner upwards channels lower trend line. The weekly price action has broken to the downside of the inner upward channel and respecting the inner downward channel at present. After 4 positive...
Bitcoin ‘GOLD 2.0’ Overview: Interesting move yesterday to push to the upper trend line of the inner downward channel. We see price settling back around the 6900 area. Today price will respect the walls of the channel as price has tried to push up but yet settled back. If a break to the upside then the mid point of the overall downward channel will act as...
Bitcoin ‘GOLD 2.0’ Overview: A quick one today as price has been dribbling at the moment with price choosing to settle at the 6800 mark. We could see a test of the upper inner downward channel trend line at 7000. However this price action looks more heavy with a test of 6400 to come. Support Levels: 6400 is Support Resistance Levels: Next major horizontal...
Bitcoin ‘GOLD 2.0’ Overview: After yesterday testing 7400 resistance, the outer downward channel, the inner upward channel and the inner downward channel we see the price has broken downwards. For now we will delete the apex triangle as has been broken however leave the inner upward channel as price could rise, retest and settle back within, thus consolidation or...