Posts Tagged ‘Bitcoin’

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Cryptocurrency Explained

A cryptocurrency is a digital currency used through the internet for conducting buy and sell transactions between users. It is not issued by a central bank. You need to pay a transaction fee every time you conduct a transaction using a bank or a credit card company. Peer to peer transactions are conducted using digital coins through the internet without the need for a central bank. It reduces transactions costs. You can store […]

Bitcoin Forecast — January 21st 2020

In this video, the Trader Guy looks at the commodity, gold for the January 20th session. Bitcoin/USD — Bitcoin broke above the $9,000 level on Monday session. But it fell back to show signs of weakness. Recently, this bearish trendline was broken to the upside. The 50-day EMA and the 200-day EMA are coming at the $8,000 level. A break above the top of this candlestick is bullish and the next target could be the $10,000 level. In the meantime, […]

Bitcoin Forecast — January 15th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 15th session. Bitcoin/USD — Bitcoin rallied on Tuesday session to break above this bearish trendline. This goes against the existing technical analysis for bitcoin. Also, it broke above the top of the shooting star candlestick, as you can see on the daily chart. However, the $10,000 level, is seen as a major resistance barrier. So, any move towards this level […]

Bitcoin Forecast — January 14th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 14th session. Bitcoin/USD — The market rallied a bit on Monday session, but the downtrend line proves to a major resistance barrier. A candle close above the top of the shooting star candlestick is seen as a signal to buy bitcoin with the target at the $10,000 level. Also, a pullback to the 50-day EMA is seen as a buying opportunity. The easier trade is to short bitcoin on signs of exhaustion, […]

Bitcoin Forecast — January 13th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 13th session. Bitcoin/USD — The trading session was slightly bullish on Friday. The US dollar was only slightly affected after the release of the jobs number in the US. The market has been hovering around the 200-day EMA. This shooting star candlestick formed at the downtrend line from last week is significant. A break above the downtrend line is very significant […]

Bitcoin Forecast — January 10th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 10th session. Bitcoin/USD — The trading session was slightly bullish as the market approached the 50-day EMA on Thursday. However, this downtrend line could offer a strong selling pressure. So, the market could see a pullback. The formation of the shooting star candlestick at the 50-day EMA indicates that the market will fall and move towards the $7,000 level. So, look for signs of exhaustion, […]

Bitcoin Forecast — January 9th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 9th session. Bitcoin/USD — Initially, the market rallied, but then showed signs of weakness. It looks like that the market is respecting this downtrend line. The market has formed a shooting star at the 200-day EMA. So, it looks like the market could very well continue with the overall downtrend. A candle close above the downtrend line is […]

Bitcoin Forecast — January 7th 2020

In this video, the Trader Guy looks at the commodity, gold for the January 7th session. Bitcoin/USD — Bitcoin rallied on Monday session from these lows. However, the 50-day EMA above could offer strong resistance. The 50-day EMA is below the 200-day EMA indicating a downtrend. So, you can expect this market to roll over, and fall towards the measured objective of this descending triangle pattern, which comes at the $5,000 level. […]

Bitcoin Forecast — January 3rd 2020

In this video, the Trader Guy looks at the commodity, gold for the January 3rd session. Bitcoin/USD — The market has been experiencing selling pressure. The 50-day EMA is now below the 200-day EMA, which indicates strong selling pressure as well. The measured objective of the descending triangle pattern comes at the $5,000 level. A breakdown below the recent lows is reason enough to sell bitcoin. Also, look for signs of exhaustion, and sell rallies too. […]

Bitcoin Forecast — Januiary 2nd 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the Januiary 2nd session. Bitcoin/USD — Bitcoin looks likely to break below the recent lows. The measured objective of the descending triangle pattern comes at the $5,000 level. The 50-day EMA is now below the 200-day EMA indicating more selling pressure on bitcoin. So, rallies that show signs of exhaustion are selling opportunities. Only a candle close above the 200-day EMA can […]

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