Bitcoin testing the lower end of the range again - Will bears finally push through? The support at USD 31K thins evermore after bears manage another rejection from the D1 20 EMA (GREEN) at USD 34K. Time is running out for our bulls, who have been fighting desperately to hold USD 30K support during this consolidation. However, their efforts appear in vain as...
Tesla - The Apple of EV’s or an over-hyped retail-driven stock? The EV giant, Tesla, has made big moves off the back of Germany, extending a €9,000 subsidy for the purchase of electric vehicles under €40,000. Let us begin tonight’s deep dive with the D1 $TSLA chart below and determine where this latest bounce is likely to cool off. TSLA/USD - 1 Day ...
Uranium, one of the most remarkable elements on our Periodic Table, and quite possibly the spark renewables need to push away from reliance on dirtier energies. Demand for renewable energies moving forward will continue rising as older infrastructures deplete and move to more sustainable alternatives. The “going nuclear” narrative is not going away anytime...
Bitcoin remains tight within a range, consolidating above USD 33K and below USD 34K. The inelasticity around this price zone has persisted for some time now, and it beckons the question from our bored traders watching paint dry, when will there be some volatility? Well, it is coming… a 10% swing is just around the corner. So let us look at the D1 BTC/USD...
Bitcoin buyers return with conviction, precious metals gearing up for a robust Monday open Bitcoin claws its way above USD 33K, and the bulls breathe a sigh of relief as BTC/USD consolidates under resistance around USD 34K. Bitcoin, BTC/USD - 4 Hour (H4) A bullish breakout would appear like the forecast above, price breaks above sloped resistance and then...
Bitcoin recovery short-lived as surging BTC.D poses a threat to alt-coin rally Bitcoin recovers somewhat after bouncing from USD 32K. However, this latest move from the bulls could be short-lived if it decays into a bearish re-test. Losing USD 33K to the bears yesterday was another nail in the coffin for BTC/USD, and rejection here would certainly mean...
Bitcoin loses some key ground to the bears as they retake USD 33K USD 33K is the mid-line to a critical range, leaving the bulls wide open for a drop to USD 31K. The BTC/USD trading pair is now attempting to muster up enough buyers at local support to encourage a re-test of the USD 34K trendline resistance. Whether this incoming re-test is bullish or bearish,...
Bitcoin remains tentative as price action continues bouncing, wedged within a near-symmetrical pennant, on the H4 BTC/USD chart below. Bitcoin, BTC/USD - 4 Hour (H4) When BTC/USD trades within a range - keep track of the Bitcoin Dominance (BTC.D) and start scouting for altcoin set-ups. Bitcoin Dominance, BTC.D - 4 Hour (H4) The overall structure for...
Chart Pattern: Head and Shoulders, a wolf in sheep’s clothing for BTC? Once more, Bitcoin demonstrates why the 'Head and Shoulders' (HnS) should be taken with a grain (bucket) of salt when it comes to trading BTC/USD. This pattern is usually a false set-up to draw in liquidity and trap buyers/sellers on both sides - HnS can make for some very painful trades. The...
Bitcoin retreats to uptrend support after yet another rejection from USD 36K This bearish price action has shaped a sloped head and shoulders; one can observe the right shoulder forming below on the H4 BTC/USD chart. Bitcoin, BTC/USD - 4 Hour (H4) The 'Head and Shoulders' (HnS) is a widely-known bearish pattern within the trading community. However, its...
Bulls appear to overwhelm bears and fortify support for a potential extended move to the upside Bitcoin breaks above USD 35K as the buyers, currently overpowering the sellers, will now actualise this zone as support before attempting a move higher. Once the bulls have secured USD 35K, they will aim to take on the H4 .618 Fibonacci retracement zone around USD...
Bitcoin successfully defended uptrend support at USD 33K from the bears and now looks to charge at USD 35K. In yesterday's Technical Outlook Edition #39 (02/07/2021), we considered the significance of a daily (D1) close above USD 35K and USD 37K for bullish confidence. To reiterate - this is imperative for BTC/USD to maintain the momentum for an upward...
Bulls and bears struggle for dominance, uncertainty weighing heavy on BTC price-action Bitcoin appears somewhat tentative as it hovers around USD 33K - the battleground where buyers attempt to resist a daily close below USD 31K. Meanwhile, sellers defend against a D1 close above USD 35K. Should the price break above USD 35K and continue up to USD 44K (D1,...
Bitcoin ran out of bullish momentum around USD 35K while attempting to flip the D1 20 EMA (GREEN) into support This stumble resulted in the BTC/USD trading pair falling nearly 5%, and bulls risk a further drop if bears achieve a daily close below USD 33K. Plotted below on the D1 BTC/USD chart, we can see this stark rejection and why a daily close below USD 33K...
Bitcoin surged above its D1 20 EMA (GREEN) resistance and reached a high of USD 36.7K - before cooling off… BTC/USD now sits around USD 35K, riding both D1 20 EMA (GREEN) and macro 0.5 Fibonacci retracement zone as newfound support. A green-tinted block on the D1 BTC/USD chart intends to forecast the optimum entry on a BTC/USD pullback. Bitcoin, BTC/USD -...
Bitcoin once more flirts with USD 35K, a critical price zone that lies below the D1 20 EMA (GREEN) While BTC/USD trades below this EMA, the bears assume absolute control and hold both hands on the steering wheel until flipped otherwise. Mapped below is the D1 BTC/USD chart concerning this 20 EMA (GREEN), which is currently acting as resistance. Bitcoin,...
Pain from surging dollar strength still fresh for many. Glimmers of hope with signs of USD bears returning Bitcoin flipped both the H4 20 EMA (GREEN) and 50MA (RED) at USD 33K. We can see pictured below BTC/USD is now beginning to flirt with the H4 200 MA, which is currently resistance. Bitcoin, BTC/USD - 4 Hour (H4) Moving from H4 to D1, we can now see...
Early bird gets the worm! Prepare for next week's trading session with our Sunday Night Round-Up Bitcoin approaches some key resistance as it tries to flip the H4 20 EMA (GREEN, Exponential Moving Average) into support once more around USD 33K. Bitcoin, BTC/USD - 4 Hour (H4) A bullish breakout accompanied by volume on the re-test could be the fuel our bulls...