The market is not out of the Woods, but with no new FUD and absent any new headlines, the market appears to be poised to test higher and we could see our first 10K handle in BTC/USD since 2 weeks ago by late this week or early next week.
The trading activity is stagnant and low volume is concerning, but the positives is that it is trading in a tight triangle...
We did mention under 9590 it could be a "steep and fast drop!"!
More headlines, this time from India, helped to fuel the Bears mangling of BTC -8.85% and they appear to have the upper hand for the near future.
We were hoping to see the bottom of the triangle (long term bull support) formation hold, but were aware that momentum favored the Bears and suggested...
BTC price action touched the bottom of the triangle pattern and long standing bull trend line; the low was 9601, statistically close enough to the triangle support line coming it at ~ 9550.
The Bottom of the triangle pattern comes in today at ~9590 & the Top at ~ 13790.
Technically, a break under 9590 signals that the Bears are still in charge and with few...
BTC is in a triangle pattern looking to test the bottom support line and we have mentioned that it would be a healthy move for BTC to test the lower end of the pattern, coming in today at approx. 9259 today.
A solid influx of bear volume hit the market between 8AM -10AM est. which helped the price break under minor support of 10750. Current low is 10379 and...
A healthy correction was needed in what was an exuberant 2017 market, especially that last quarter, but how low will we go?
The bears still appear to be in control, especially helped by a dose of negative news in recent weeks.
The Bears will continue to benefit from headlines that appear to center around the uncertainty of any regulatory impact on the price, if...
There are a couple of formations happening on this chart, depending where you stand, the most optimistic is that the low of the move is in and we have found support between 9,800 - 10,100 range, obviously looking to test it multiple times before the months ends, needs to break & hold above 12,500 and form a consolidation pattern up to 14,300. Under 9,800, the...
