dennisdaiber

dennisdaiber

Although almost all crypto projects saw a rise in evaluations, bitcoin dominance rose significantly higher than most other currencies. Bitcoin dominance is currently at 70% as altcoins are struggling to get the same buzz.

dennisdaiber

During its rapid move to the upside bitcoin created a gap on a daily CME futures chart. This gap is now expected to get filled and it appoints the target at $8900 price level.

dennisdaiber

Last week’s bullish divergence on the daily RSI resulted in almost 40% spike to the upside. Breaking above 200 day moving average with a significant volume and closing above it is a very bullish sign. Bitcoin price since went on an expected 10% decline and there is a potential for further correction. It would be reasonable to assume, that BTC might retest the...

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There is a Death Cross of 50 and 200-day moving averages on a daily chart. Also, we can see a Head and Shoulders, which is a bearish pattern with a $6900 target.

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Bitcoin bear trend now entered a bear market, as we see a red candle break below the EMA ribbon on a weekly chart. Historically this hasn’t happened before and it is a very bearish sign. The ribbon is usually able to provide a strong support when price breaks above it for about 1.5-2 years. This time it didn’t hold 5 months and now there are several bearish indicators.

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The falling wedge theory for now remains valid as the price stays within the pattern. If the support line will be able to hold the price might bounce back and this would be still a bullish pattern.

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As for Ether, it is now clearly draws a falling wedge pattern on a daily chart. It tested both support and resistance lines four times already for the past 4 months. It now struggles to break above daily EMA ribbon and most likely will test the support level again at around $140 price point. However, if the pattern plays out well, then the long-term target might...

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In the meanwhile, XRP is one of the best performing coins this month. It shows a gradual 20% growth since October 1st, unlike the rest of the top 10 cryptocurrencies. However, considering a recently published market report for Q3, fundamentally Ripple is not doing so well. The report mentions a significant decrease in sales, as well as overall market cap.

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Moreover, there is an infilled gap on a CME daily chart right in between $1700 and $1800 price levels. And historically, those gaps are almost always get filled eventually.

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BTC/USD daily chart shows us two almost identical falling wedges. The one we are in right now is a smaller version of what we saw in 2018. Following this pattern, there is a high possibility that the price will keep moving sideways until mid-November, before breaking out to the upside to reach $11700 target. This also aligns with the Golden Pocket on a Fibonacci...

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On a short timeframe (4hr) bitcoin bounces in an upwards trending channel, which could also been seen as a bear flag.If the price breaks below $7900 than and the bear flag plays out, than the target aligns with next significant weekly VPVR level and 100-day MA.

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Bitcoin experienced a 43% correction since June 24, after the latest 344% bull run. It is currently trapped in between 20 and 100-day moving averages on a weekly chart. 100-day MA stands strong and supports the price to fall further for 4 weeks now. If BTC breaks below that level, we will see a massive dump all the way till $6700. This is also a price point where...

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Despite the recent sell off, BTC/USD longs consistently have higher lows since May and buyers still dominate on a longer time frame. Yet for now, there is a clear indecisiveness on the market to either direction.

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Over the two weeks bitcoin did not make any decisive movement and kept trading within 5% range. It is also still unable to break above 200-day moving average.

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Bitcoin price is trapped in the sideways channel and still remains under 200-day MA, which makes the situation quite bearish for now. BTC has ton of volume within this price range and VPVR indicates that the next move to either side would be a drastic 25% to the upside or 35%to the downside. Looking at MACD indicator on a daily time frame, the downside pressure...

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There is also another theory to consider, that in fact it is a falling wedge forming right now, the one that was overlooked in the previous brear market. According to this pattern the price should get back to where the falling wedge begins. So, after a final shakedown we might see bitcoin going back to its $14000 target in the long term.

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There are undeniable similarities between current and historical bitcoin price action. A massive bull run, followed by a consolidation phase, where the price bounces between support and resistance and forms a descending triangle. When the price reaches the tip of the triangle it breaks down and moves sideways for some time, before going on the next run up again....

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With the bitcoin price at $8400 the question arises, is it a bounce or a breather before breaking a major support level? On a daily chart, the VPVR indicates that there is a significant volume within this price range in between the 200-day Moving Average and weekly EMA ribbon. BTC tested the ribbon twice in the past week and once again it was proven to be a...