BCryptological

BCryptological Updated 

The Wyckoff Accumulation theory can be seen in action for IOTA, with the price range having just entered into phase C marking the point of maximum opportunity. Here I break down both the key phases and price levels, and how IOTABTC is so far following this to a tee. Should this play out according to Mr Wyckoff, a potential 400-500% increase should be about to...

BCryptological Updated 

It's easy to get caught up looking at lower time frames. Make sure to zoom out and look at the big picture to keep perspective. The key factors in play at the moment are: The bulls and bears are currently fighting over the key psychological $10k level. Falling below the weekly 21EMA (with a candle close confirmation) is usually a clear signal that we are...

BCryptological Updated 

All projects take time and require patience, but with limited visible progress in recent years for XRP both the short and medium term outlook is bearish. Long term prospects for XRP depend entirely if you are a believer or not, so if you are a believer the long term future is naturally extremely bullish. However, since XRP has made only lower highs for two years...

BCryptological Updated 

The self-fulfilling prophecy of a post-halving dump combined with a three year old pennant structure is keeping us in an increasingly small range, meaning we should be relatively neutral on BTC, in the medium term only. Short term a grind back to $6k pennant+200MA support is highly probable. Medium term a move back up to $8.2k resistance. Long term the journey...

BCryptological

Looking at the short term hourly chart, BTC is being supported by the 100 moving average and facing resistance from the 200 (and 50) moving average. As they converge, BTC must choose a direction to break out. Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion. ...

BCryptological Updated 

Tron has just broken out of a giant pennant it has been moving within for the past six months, including a move above the weekly 21 EMA and any other key moving average you care to name. This will be a crucial time now to see if TRX will continue up to join the alt party which has been gathering momentum over the past few days. Save crucial space on your Trading...

BCryptological Updated 

Sometimes you need to step back and take a look at the bigger picture, but this is a BTC chart not enough traders take a moment to view. The USD value is inverted, so bullish movement takes BTC "down", whereas a bearish fall takes BTC "up", and is helpful for removing your bias (and we all have one to one degree or another). Take a fresh look at this chart and...

BCryptological Updated 

While there is a continued argument between “gaps always fill” and “gaps mean nothing”, the fact is: the Bitcoin futures contract on the Chicago Mercantile Exchange (CME) generally always fills its gaps - but is this becoming a guarantee of future performance? Since the CME only trades during the working week, if BTC makes a big price move during the weekend,...

BCryptological Updated 

We have been in a falling wedge since June, but there is another line segmenting the pattern which has proven to offer good support multiple times previously... and now it has proven for the third time to also work as strong resistance. My prediction from here? BTC will go back down to the Fib golden retracement level, which near enough coincides with the $7000...

BCryptological Updated 

While there is a continued argument between “gaps always fill” and “gaps mean nothing”, the fact is: the Bitcoin futures contract on the Chicago Mercantile Exchange (CME) generally always fills its gaps - but is this becoming a guarantee of future performance? Since the CME only trades during the working week, if BTC makes a big price move during the weekend,...

BCryptological Updated 

Many pessimists talk of the 2017 pump as if it was the only wave of euphoria Bitcoin ever experienced and that now the "bubble has burst" Bitcoin is finished. I strongly disagree. BTC has pumped and corrected four times before and this is a completely normal (and actually shockingly predictable) repeating market cycle, just like the global boom and bust market...

BCryptological Updated 

Some major support levels to keep in mind. The most healthy bull run will come only once we have run out of sellers, so anything fairly low would be very healthy - and would also help kill off the 90% of altcoins who have made little to no progress on their promises (through being over-ambitious, badly managed, or just a scam) and have now only dwindling funds....

BCryptological Updated 

A glimmer of home in these bearish times. Whilst the bounce in late October came off the 200 weekly moving average in the BTCUSD charts, once we switch to the CME Bitcoin Futures chart (who promised to "tame" Bitcoin) it takes a different significance - with a direct bounce off the 200 daily moving average. All CME gaps (due to large weekend BTCUSD price movement...

BCryptological Updated 

I don't think this chart pattern requires too much explanation - a move back to $5k (or at least $6k) is already taking place, before we move into the next "bull run". What reasoning can you come up with to dispute this being the likely situation? Regardless, I am ultimately of a bullish outlook, as I would consider these all stepping stones on the way to a new...

BCryptological Updated 

XRP has been in a descending triangle for the entirety of 2018 and 2019, one where we are rapidly approaching the apex and the potential for a big move. The argument for a big break upward towards $1: At Swell, Ripple confirmed it now has over 300 customers. Though only a small number of those are using On-Demand Liquidity (ODL), growth is definitely there,...

BCryptological Updated 

Though perhaps not typical of BTC's history, it is worth taking a moment to consider if we are in fact in a long term symmetrical triangle. The declining volume over the past two years and downward momentum on the Stochastic RSI would certainly lend some support to the prospect. If this is the case, the next move down would put us into contact with the support...

BCryptological Updated 

With Bitcoin's current consolidation nearing completion (confirmed by the declining volume), it's time to prepare for BTC's next move. Three potential outcomes are: Break up to continue a bull run up to $12,000 Break down to $8,600, but hold the previous downward resistance line as support before moving back up for another attempt to pass $10,000 Break down...

BCryptological Updated 

BTC continues its journey within the downward channel, finally breaking the weekly 100 Moving Average (as should be expected) with the help of the 21 daily exponential moving average... as usual, the trend is your friend. Next major support: the weekly 50 Moving Average around $6800, although it is also likely we will stay within the downward channel and fall no...