CryptoTough

CryptoTough

The green breakout candle on May 8 failed to take a BTC higher, signaling a short-term top. Since then, BTC has moved significantly lower for 7 to 10 days. 42,00 looks like a good area to make some buys as the one-hour chart is showing a double bottom with price holding and increased volume. s3.tradingview.com

CryptoTough

Bitcoin BTC breaks out of its high base and mini cup and handle after consolidating for the past week. This move opens the way for a move to 65,000 without any resistance.

CryptoTough

Seven Nasty candles off the highs and a large percentage underneath the 50=day moving average. It's worth a shot going long on this excellent shakeout near 48,000.

CryptoTough

After a nice pullback from March 17, 2021, BTC has tested this 50-day moving average. While I was hoping for 48,000, I think it's time to start buying here near 52,000. I'm also buying back $ETC, $LINK, $COMP, $ZEC, $REN and many more altcoins that have pulled back.

CryptoTough

Bitcoin needs a good shakeout after reaching new highs if it is going to continue the Bull Run higher. A pullback to 48,000 near its 50 day moving average would help cool off the speculators and present a nice value for reentry.

CryptoTough

BTC has been winding tighter in this coiling pattern for the past few weeks. Right now, it could go lower or higher, depending on who wants to win this battle. Examining the Bitcoin Dominance chart shows that money has been moving into altcoins today with cryptos like ETH and ADA showing nice percentage gains. This really isn't a positive sign for BTC. You can...

CryptoTough

It looks like BTC.D stalled near trendline resistance and is now pulling back into the BTC having. This price action is letting altcoins dominate and move higher. Symbols like BAT, NEO and LINK are moving higher. I'm watching for this trend to continue.

CryptoTough

BTC has been slowly creating a high-level consolidation base at its current level just below 9000. It's been about seven days since the last major green candle, which means it's about time to bust up once again, especially after the recent retest near 8500.

CryptoTough

It looks like BTC is consolidating in this upper range before taking its next leg up. The 20 day-moving average has bullishly crossed over the 50-day moving average, and BTC is holding steady above this important indicator.

CryptoTough

BTC stalled at its 50-day moving average near 7400. This pullback is healthy and was needed as long as it doesn't go too far. Using a stop under 6800 will protect gains. It would be great if BTC could do some consolidation in this area, which I think is possible before moving higher.

CryptoTough

Bitcoin has been climbing a wall of worry throughout March and early April. Stalling at its 50-day moving average makes sense as it's becoming slightly overbought. BTC needs to consolidate at its current range between 6800 and 7400 before moving higher. Placing a stop below 6800 is advisable.

CryptoTough

BTC has been bouncing nicely off support. Look for resistance at the downtrending 20-day moving average and the level of congestion from November near 9500. This bounce could be a short-term bottom with a V-pattern recovery. However, it would be much better for BTC to return to previous support for confirmation and then bounce again to resume a bullish uptrend....

CryptoTough

BTC is forming an inverse head and shoulders pattern. The pullback has hit the 50% retracement level. It can pull back even further to the 62% level without hurting this uptrend. This would put in a higher shoulder on the right side, which is bullish.

CryptoTough

Dipping just below the 50-day moving average and pulling back to the 38.2% Fibonacci retracement line here provides crucial support. Failing to hold this area will mean lower prices are ahead.

CryptoTough

RVN has broken out over the consolidation area and now has a clear path to its 200-day moving average, which is near .032.

CryptoTough Updated 

Ethereum Classic - ETC has touched it's 200-day moving average, which might act as resistance. This is also an area where it found support in July and August of 2018. It would make sense for it to stall here after quite a good run higher.

CryptoTough

On the daily chart, BTC has stalled at the 50% Fibonacci retracement level near 8481. This provided a good target over the breakout level of 7600, especially after the consolidation. There is also resistance near 8600, which will also slow this rally.

CryptoTough

Last July, I posted thoughts on BTC retracing to the 7000 level where the 200-day moving average was heading. It has pulled back to this area for the last six months with lower highs along the way. November's exhaustive candle suggests this drop is about done. BTC could see a reversal next month (7), which either consolidates or starts to move higher. No need for...