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On the hourly analog Bitcoin Bitfinex chart, you can see the down trending modified Schiff pitchfork channel that we have been tracking for a few weeks now and as discussed when this pitchfork was broken we could see a big jump in price. Sure enough, price was looking down into the abyss on Friday afternoon, and could not make a new low from $5,755 from two...

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The crypto market drifts lower today, after a completed bullish inverse head and shoulder reversal yesterday, but a lack of volume to confirm. Are the bears satiated yet or will the bulls take advantage of their opportunity? On hourly analog Bitcoin Bitfinex chart, there really hasn’t been much of a move since yesterday and price has just been gliding slowly down...

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On the hourly analog Bitcoin Bitfinex chart, you can see how critical that black horizontal line is at $6,000 for long-term and current support, but it was dire straits for the bulls last Friday night heading with price heading down to $5,910. The bulls recovered into Saturday briefly before touching the light blue 50 hour moving average line and quickly heading...

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A slight drift from the trend line yesterday evening was easily enough to cause a torrent of selling all the way back down to the lows on June 13th. Let’s take a look at when the selling may stop. On the hourly analog Bitcoin Bitfinex chart, you don’t need to be told about the huge plunge taking place as we speak. Overnight the rising wedge between the black...

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On the hourly analog Bitcoin Bitfinex chart, I have been tracking a pitchfork that I went over in some detail yesterday that has been tracking the downdraft since May 5th. As expected, price has pretty much trended sideways over the past 24 hours without making a significant move, but that appears likely to change quite soon. Price is still in this red...

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After a failed motherboard and hard drive Monday morning I have some new tech to continue the writing. The cryptos have been decently unimpressive after some glimpses of hope the past few days, so come in and let's dig a little deeper. On the hourly analog Bitcoin Bitfinex chart below, I have been tracking this down-trending pitchfork which I have revised...

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There seems to be overwhelming bearish sentiment on social media, so is it a foregone conclusion the bears will get worse? Let's discuss. On the hourly analog Bitcoin Bitfinex chart, price is essentially in the same place as yesterday. I had indicated that price could ride the blue 1 standard deviation (sd) line for a while before breaking down to the 50 hour...

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I am back today after some frustrating tech issues and a bloody crypto market yesterday. Bitcoin is showing some signs of life with a nice bounce today, but how long can this last? First one is the standard hourly analog Bitcoin Bitfinex chart. Price is recovering nicely from the past two days of capitulation where price touched $6,108 just a $108 shy from the...

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Another Bitcoin knockdown occurred in the past few hours here as the trend is the bears friend for now. Let’s look at how much further this can fall. On the hourly analog Bitcoin Bitfinex chart, you can see how price had a fairly sideways and uneventful majority of the day. I had drawn that blue box on the chart yesterday focusing on that range between $6,825...

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On the hourly analog Bitcoin Bitfinex chart, I will back up to show you what happened after the last post on Friday afternoon and some of the warning signs. Price was meandering along between the thin black 200 hour moving average and the light blue 50 hour MA when the reg flags began. Typically, the 50 hour MA shouldn’t be too hard for price to break in either...

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An underlying weakness in the market is rearing its head today and the range of indecision continues to narrow. Is this market ready to turn bullish yet or are we in for another shakedown? Let’s discuss. Let’s do the hourly analog Bitcoin Bitfinex chart to gain some perspective on our weekend targets. Price only continues to down-trend after yesterday’s post and...

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Another day of Bitcoin consolidation has lead to a potentially explosive situation while I write today. Tremendous bullish momentum continues to prop up price, so let look at how long it might last. On the hourly analog Bitcoin Bitfinex chart, we are looking at some sideways chop while the bulls and bears duke it out to determine what’s next. Price rallied...

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The battle for Bitcoin continues as a bullish push yesterday has resulted in another bearish response today. The heavy weights continue to exchange blows, but who will prevail? First screenshot below is of the hourly analog Bitcoin Bitfinex chart and we have another Bart Simpson pattern over the last two days here, which is also getting quite tiresome. It’s been...

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After a disappointing evening and a bit of the scare, the Bitcoin and crypto market had a nice rally today to reverse most of yesterday’s losses. Let’s take a look at where it may be off to next. Per usual we have our hourly analog Bitcoin Bitfinex chart to which I have applied a pitchfork to which tells a nice story. I took the swing high on Sunday of the high...

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The crypto market pulled back today after a productive weekend making new highs on the rally from May 29th. But the strength in the market is still not there. Let’s take a look at the cornucopia of encouraging news as the pendulum slows. The first snapshot we are looking at below is the hourly analog Bitcoin Bitfinex chart, and you can see how we had a nice...

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Bitcoin stumbled early this morning all the way back down to $7,331, but has made a modest recovery throughout the afternoon. Volume is dropping indicating a big move ahead. Which direction is it off to next? First chart we are looking at is the hourly analog Bitcoin Bitfinex look. The snapshot below shows how price was rising inside this orange rising wedge...

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First chart we are looking at is the hourly analog Bitcoin Bitfinex chart, which is looking decent for the first time in a while. Yesterday we were in the valley around the $7,300 when price started getting a little bullish momentum. Around midnight EST price began to move higher from about $7,362 to about $7,600 for a move of $236, where it was pushed back by...

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The crypto market has pulled back today to a sufficient Fibonacci retracement where a new foundation is now currently being erected. First chart we are looking at here is the hourly analog of Bitcoin on Bitfinex. Price made new highs overnight from $7,536 to $7,560, so I adjusted the Fibonacci retracement and sure enough price has stumbled back down today to the...