$9,300 has been a critical level on the chart going all the way back to June 2019 and Bitcoin just lost it and put in a bearish re-test. Unless it is regained quickly I'm expecting the range lows to come into play.
Latest in my weekly update series. I've shifted bearish on Bitcoin given the weekly rejection in the face of the all-time downtrend, not to mention the daily has lost it's uptrend. The only thing remaining to confirm a bearish bias is the loss of daily/monthly support around $9,250.
Bitcoin and Altcoin Market Analysis - Monthly Close Edition
by
cryptoadvocate
on 31/05/2020, 23:58:43 UTC
Bitcoin looking to hold critical monthly level, suggesting expansion to the upside; however, weekly looks bearish suggesting a pull-back in the opening week of June.
Meanwhile, alts look incredibly strong but have pulled back into support that needs to hold.
Main takeaways are that while bullish, BTC has failed to set a higher high and is still in weekly downtrend. Meanwhile, Altcoins are making large gains vs. Btc.
Post
Topic
BoardSpeculation
Topic OP
Bitcoin Comprehensive Top-Down Market Analysis
by
cryptoadvocate
on 15/05/2020, 22:00:57 UTC
Typically try to keep TA updates short and to the point, but thought I'd try sharing my weekly market analysis with readers. This is an exercise I do weekly to inform the strength of trend, my bias for spot, leveraged and short-term trades, as well as identify when that trend begins to shift.
Definitely recommend the read, but high level takeaways is that Bitcoin is maintaining bullish trend across almost all timeframes but there is cause for concern given HTF market structure. Ethereum meanwhile is barely hanging on - close to flipping to bearish bias and lower time frames have already shifted that way.
Post
Topic
BoardSpeculation
Topic OP
Bitcoin Market Update: The Halving is Here
by
cryptoadvocate
on 11/05/2020, 00:03:49 UTC
Price ran up to $10,000 only to dump quickly to $8,100. Filled bids on this drop and remain bullish but HTF market structure is cause for concern.
20 MA, on weeks ? I see yearly and 200 day average are underneath the price currently so BTC getting back above is some positive.
We seem to have some closing of range possible or momentum of the 2 day average reflecting the recent rise but then weekly average at 8500 is a good marker for resistance possible there. Maybe a break either way but for the moment I think it is positive. If we lose these recent gains then possibly it turns more negative.
Agreed, seems rangebound with weekly and monthly levels overhead acting as resistance, major ma's below as support
Post
Topic
BoardSpeculation
Topic OP
Bitcoin Drops $1,600 Amidst Global Uncertainty. What's next for BTC?
by
cryptoadvocate
on 02/03/2020, 01:10:28 UTC
Bitcoin is at an important juncture, sitting on weekly support and the 20 week moving average and yet the global markets seem poised for more downside. Will Bitcoin drop further or recover from here?
9500 doesn't look like it will hold. Was bullish at time of post but global conditions and price action have changed that
Post
Topic
BoardSpeculation
Topic OP
BTC & Altcoin Update: Market held support, bullish bias intact
by
cryptoadvocate
on 24/02/2020, 00:50:32 UTC
$9,500 key level for Bitcoin held so bias for the overall market is a bullish one. Many alts are resuming the uptrends after recent dumps so I think some of those such as ALGO offer the most upside right now.
Any idea about VPN policy? They don't allow US customers but Tier 1 verification (email/name/country) allows $2000 per day in withdrawals. That's good enough for me if I can squeak by behind a VPN.
Dont see why it wouldn't work but obviously do so at your own risk
Post
Topic
BoardTrading Discussion
Topic OP
FTX Review: The Best New Crypto Derivatives Platform
by
cryptoadvocate
on 23/02/2020, 01:10:37 UTC
Lately I've been trading more and more on FTX.com, mainly due to all the issues that Binance has been having. The options and types of contracts available on FTX are unique and can't be found anywhere else and it now ranks as the 5th highest volume exchange.
Re: Bybit Review: The Best Margin Trading Platform
by
cryptoadvocate
on 23/02/2020, 01:09:09 UTC
Please don't spam this thread.
Post
Topic
BoardSpeculation
Topic OP
BTC & Crypto Market Update: Sunday, Bloody Sunday
by
cryptoadvocate
on 17/02/2020, 21:49:17 UTC
Quite the correction to wrap up the week, the largest single day drop since the market started trending up strongly. However, the critical supports are still in place which means I remain bullish until the market proves otherwise.
Full thoughts on what's next for BTC and the crypto market here:
Re: BTC & Crypto Market Update: BTC Clears $10k, Alts Gaining as bull run ensues
by
cryptoadvocate
on 11/02/2020, 21:27:44 UTC
Almost every alt has gained substantially against btc, which had gained substantially against the dollar.
Post
Topic
BoardSpeculation
Topic OP
BTC & Crypto Market Update: BTC Clears $10k, Alts Gaining as bull run ensues
by
cryptoadvocate
on 10/02/2020, 02:26:28 UTC
Bitcoin clearing $9,500 is a significant hurdle and marks a higher high on the weekly chart and in all likelihood, an end to the prior bear market. Alts are making big gains as well despite rises in BTC which suggest the market as a whole is ready to make moves.
Full market thoughts including charts for BTC, LTC, ETH, BNB, BAT, ZIL, ALGO can be found here: