Technical Analysis – BTCUSD descending triangle breakout could be nearing

Posted on September 24, 2019 at 2:48 pm GMT

BTCUSD (Bitcoin) has been gradually making lower highs since June’s spike to the 1½-year high of 13,809, what now looks to be a descending triangle with a support line around 9,250. The technical indicators are currently favoring a bearish picture for the short-term, as the RSI is maintaining a downward slope under its 50 neutral mark and the MACD seems to be gaining negative momentum below its red signal line. The base around 9,250 could reject downside corrections but if [..]


Technical Analysis – BTCUSD exposed to downside corrections

Posted on September 6, 2019 at 1:59 pm GMT

BTCUSD (Bitcoin) staged a stunning upside reversal around the 9,300 support area, with the price surging back above the 100-period exponential moving average (EMA) and towards two-week highs. Buyers are currently pushing efforts to overcome the 38.2% Fibonacci of 10,837 of the downleg from 13,809 to 9.011, a break of which could see the retest of the 11,130 barrier. Moving higher, the 50% Fibonacci of 11,398 could next captivate trader’s attention and trigger another bullish action towards the 61.8% Fibonacci [..]


Technical Analysis – BTCUSD breaks symmetrical triangle to the downside

Posted on August 29, 2019 at 2:55 pm GMT

BTCUSD (Bitcoin) breached a symmetrical triangle to the downside on Wednesday in the four-hour chart and plunged to the 9,300 support-area – a negative trend signal. The fast-Stochastics and the RSI signal, however, have bottomed in the oversold territory and are turning higher, hinting that a rebound may be around the corner. A move northward could initially pause around the 9,680 barrier and then somewhere between the 23.6% Fibonacci of 10,130 of the downleg from 13,809 to 9,011 and the [..]


Technical Analysis – BTCUSD slips below 100-EMA and Ichimoku cloud

Posted on August 14, 2019 at 10:19 am GMT

The famous crypto Bitcoin came under fresh selling after slumping below the 100-period exponential moving average (EMA) and the Ichimoku cloud in the four-hour chart. According to the RSI and the Stochastics the market is fluctuating in oversold waters and hence upside corrections are likely. Still, the market may need to run comfortably above the 100-period EMA currently at 10,873, and more importantly above the 50% Fibonacci of 11,400 of the long donwleg from 13,809 to 9,011 to boost buying [..]


Technical Analysis – BTCUSD keeps bullish bias intact

Posted on August 7, 2019 at 2:17 pm GMT

Bitcoin has seen demand accelerate this week, with the price running as high as 12,257 on Wednesday before pulling back to the 11,400 support area. The market could retest its latest peaks as the recent rebound in the RSI and the positive slope in the Stochastics in the four-hour chart back a bullish scenario for the short-term. Crawling higher, the bulls would aim for a close above the July high of 13,131 but they should first breach the wall around [..]


Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:26 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies    The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]


Technical Analysis – BTCUSD clears 100-EMA; bias cautiously bullish

Posted on August 2, 2019 at 1:45 pm GMT

Bitcoin propelled out of the Ichimoku cloud and above the 100 exponential moving average (EMA) in the four-hour chart, which proved hard to breach early in July. According to the RSI, the market seems to have reached overbought conditions and is likely to experience some weakness in the short-term as the indicator moves softly around its 70 overbought mark. However, if the MACD keeps gaining ground in the positive territory, the price may continue to head higher. An upturn above the July [..]


Technical Analysis – BTCUSD rises to pare negative gap; lacks direction in near term

Posted on July 15, 2019 at 9:33 am GMT

BTCUSD opened with a noteworthy negative gap today, posting a fresh almost two-week low near 9792. The price dived below the Ichimoku cloud but is currently trying to pare some of today’s losses. The MACD oscillator is moving even lower below the zero and trigger lines, while the stochastic is holding in the oversold territory. However, the RSI indicator is heading higher, confirming the bullish move in the price action. More gains could send the price towards the 10710 resistance [..]


Daily Market Comment – Dollar weaker after Powell flags rate cut; US stocks hit all-time highs

Posted on July 11, 2019 at 8:27 am GMT

Fed Chair Jerome Powell and FOMC minutes bolster case for a July rate reduction US dollar slips after Powell’s remarks, reversing NFP-driven gains Euro rebounds, eyes ECB minutes; pound and loonie up too US stocks hit record highs but Bitcoin plunges Powell testimony all but confirms rate cut in July Markets were in buoyant mood on Thursday as Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting. [..]


Technical Analysis – BTCUSD forms a failure swing bottom pattern; eases below 2-week high

Posted on July 9, 2019 at 12:29 pm GMT

BTCUSD has been creating a failure swing bottom pattern and if the price jumps above the one-and-a-half-year high of 13809 would confirm the buying interest. The rebound on the 9582 support level helped the price to climb towards a two-week high of 12767, surpassing the Ichimoku cloud and the short-term moving averages. However, the RSI indicator is forming a downside move following the pullback on the 70 level, while the MACD is still increasing distance above its trigger line. More [..]

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