dennisdaiber

dennisdaiber

Bitcoin price broke below $7000, falling 6% since our bearish call in the previous issue. The possibility for further downward continuation towards the $6400 support level still remains valid. The tightening range and declining volume on the daily chart presents a sign that bitcoin is consolidating and getting ready for its next big move. If the breakout plays in...

dennisdaiber

Bitcoin price broke below $7000, falling 6% since our bearish call in the previous issue. The possibility for further downward continuation towards the $6400 support level still remains valid. The tightening range and declining volume on the daily chart presents a sign that bitcoin is consolidating and getting ready for its next big move. If the breakout plays in...

dennisdaiber

the previous issue. The possibility for further downward continuation towards the $6400 support level still remains valid. The tightening range and declining volume on the daily chart presents a sign that bitcoin is consolidating and getting ready for its next big move. If the breakout plays in favor of the bulls, BTC will probably test the resistance level at...

dennisdaiber

Bitcoin Futures long positions continued its rally and now have reached all-time high. This gives an even stronger indication that long squeeze is imminent is even closer now. The record amount of longs means massive risk of increase selling as those who are long are going to cover their long positions.

dennisdaiber

Adam and Eve pattern on a bitcoin daily chart was not confirmed and the price remains in a down trend. In the current situation it might come down and test the lows again at approximately $6200 level. In order to see a trend reversal in a short term and test the downwards trending resistance., the bitcoin price would need to break above 20-day moving average.

dennisdaiber

Adam and Eve pattern on a bitcoin daily chart was not confirmed and the price remains in a down trend. In the current situation it might come down and test the lows again at approximately $6200 level. In order to see a trend reversal in a short term and test the downwards trending resistance., the bitcoin price would need to break above 20-day moving average.

dennisdaiber

On a 4-hourly chart, after forming a horizontal triangle, which is usually a continuation pattern in a downwards trend, BTC price broke down. On the moment of writing the price holds at a 50% Fibonacci Retracement level and in case of further continuation to the downside the next support might be at around $7000.

dennisdaiber

Bitcoin continues moving sideways and trades within 5%range as Bollinger Bands are getting closer. Since November 25th BTC price has been establishing higher lows. It also appears that the current price action is forming an Adam and Eve bottoming pattern. In case this pattern will play out, the approximate target would be at $9230. However, there is a 61.8%...

dennisdaiber

Bitcoin continues moving sideways and trades within 5%range as Bollinger Bands are getting closer. Since November 25th BTC price has been establishing higher lows. It also appears that the current price action is forming an Adam and Eve bottoming pattern.

dennisdaiber

Ethereum's Istanbul hard fork has been activated on December 8th. The upgrade was carried out in order to balance the cost of gas (fees), improve the scalability of solutions based on zero-knowledge proof and strengthen the protection against DoS attacks and provide compatibility with privacy coin Zcash. The event did not affect of ETH price at all, which stays at...

dennisdaiber

On a 4-hourly chart bitcoin price action formed a falling wedge that broke out to the upside, almost reaching its appointed target. The price went up 8%, before crushing back within a few hours. Bulls tested hight, but got almost immediately rejected by bears indicating a lack of strength to break above previous high at $7900. During these choppy moves, EMA ribbon...

dennisdaiber

Looking at the bigger picture as the end of the year is upon us, bitcoin price went up 100% since December 3, 2018, exactly one year ago. Yet, this year’s price peak ($13,800) is only 30% lower from the 2017’s all-time high. Historically BTC is known to be quite volatile on the last month of the year, as it has been making over 30% moves each year, since 2015....

dennisdaiber

Long positions had an impressive surge for the past week. There is still some room to the upside, however the parabolic makes bitcoin more susceptible to a long squeeze. A long squeeze occurs when a price fall pressures BTC long holders into selling that will drive a price even further down.

dennisdaiber

On a weekly timeframe there is an important event worth noting, 50-day moving average crossed above 100-day moving average. Last time this occurred in May 2016 and resulted in 950% price increase. This could have been an immensely bullish sign, if not for bearish divergence on a weekly RSI, that suggests the opposite in the longer term. Moreover, according to...

dennisdaiber

On a weekly timeframe there is an important event worth noting, 50-day moving average crossed above 100-day moving average. Last time this occurred in May 2016 and resulted in 950% price increase. This could have been an immensely bullish sign, if not for bearish divergence on a weekly RSI, that suggests the opposite in the longer term. Moreover, according to...

dennisdaiber

On a weekly timeframe there is an important event worth noting, 50-day moving average crossed above 100-day moving average. Last time this occurred in May 2016 and resulted in 950% price increase. This could have been an immensely bullish sign, if not for bearish divergence on a weekly RSI, that suggests the opposite in the longer term. Moreover, according to...

dennisdaiber

The reversal head and shoulders pattern resulted in a bullish continuation and reached $7800 level. The further growth was stopped out by 20-day exponential moving average resistance. BTC price has since went down 9% and was supported by 61.80% Fibonaci Retreacement level. It is important for the bulls to stay above that level, or at least within the “golden...

dennisdaiber

The reversal head and shoulders pattern resulted in a bullish continuation and reached $7800 level. The further growth was stopped out by 20-day exponential moving average resistance. BTC price has since went down 9% and was supported by 61.80% Fibonaci Retreacement level. It is important for the bulls to stay above that level, or at least within the “golden...