It's been a long time since a market update but better late than never and what better time than now to analyze than the recent cryptocurrency market action? Bitcoin Monthly Chart Things are pretty clear on the monthly. After consolidating just below $4,000, Bitcoin and closed above the 5 period MA for the first time in this bear market and did so in a spectacular fashion, clearing the $4,300-4,700 resistance. Above that, there was a lot of clear sky so it was no surprise to

Happy new year everyone! This market update is a bit delayed, it's been a busy start to 2019 so far, but let's jump right in. Bitcoin Bitcoin Monthly Bitcoin closed entirely under one of the key monthly support ranges from $4.3-4.7k and is now sitting within the broader support range of $3.0-4.7k. BTC bounced off the 50 month moving average but ultimately was rejected from $4.3k and closed below the range midpoint of just over $3.8k. Overall, Bitcoin is looking neutral as lon

It was another red week for Bitcoin after closing the weekly at $3,193 USD. Where is price most likely to reverse and what might we see in the coming weeks? The first thing to call out is that the weekly closed entirely beneath the former $3,600 support and therefore I expect this to become solid resistance if and when Bitcoin does bounce. Secondly, BTC is again finding support on the 200 week moving average, however there's no wick off it this week which leads me to believe

It's been an ugly couple of weeks for Bitcoin and in less than a month price has plummeted from $6k all the way down to the low $3k's. Hopefully everyone saw my market update from back in October and were prepared for this scenario. After a 50% drop, what's next? Bitcoin Monthly The Bitcoin monthly chart does not look good to be honest. The last candle absolutely nuked through one of the biggest monthly support levels, though it's worth noting there wasn't a ton of confluence

The steel wall that was the support at $6000 USD has fallen and unless price quickly recovers the notorious ascending triangle will have decisively broken to the downside. I discussed both the upside and downside scenarios here previously but let's take a closer look at today's move and what can be expected going forward. Bitcoin's price has been contained to this singular range defined by a weekly breaker since June 2018 and only briefly broke to the upside at the end of Jul

Market Overview 03/10/2018 Bitcoin, and the majority of the crypto market, has been in a downtrend since early January and the bear market has certainly taken it's toll on those in the crypto space, as well as their portfolios. The past four months Bitcoin has been moving in a relatively narrow range, never dropping below $5750 or above $8500; removing July the upper limit becomes $7800 and the range continues to tighten in recent months. There's also the descending triangle