Posts Tagged ‘Bitcoin’

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How Bitcoin Trading Work Between BTC & USD | How to Profit from Bitcoin Trading (Like Forex?)

The US dollar is the currency of the United States. The pound is the currency of the United Kingdom. Similarly, the bitcoin is the currency of the internet. it is a digital currency used by people across the world to transact digitally to buy products and services. You need a bitcoin wallet to start with. You can send and receive bitcoins using unique addresses. Bitcoin transactions are stored in a shared public ledger called blockchain. Miners are people […]

Bitcoin Forecast — April 1st 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the April 1st session. Bitcoin/USD — The trading session was quiet on Tuesday. The market is trading just below the $7,000 level, which is psychologically significant, and also could offer strong resistance. Hence, a daily candle close above this level will see much higher prices. However, at the moment, you can look to fade rallies, and sell them on signs […]

Bitcoin Forecast — March 30th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 30th session. Bitcoin/USD — After this rally, the $7,000 level proves to be strong resistance, and be psychologically significant. So, you can expect the market to roll over, and fall down to look for support. To the downside, you can extend down as far as the $5,000 level for support. A candle close above the $7,000 level is significant. However, the 50-day EMA could […]

Bitcoin Versus Gold

Bitcoin is also referred to as digital gold. Is there a justification for saying so? However, there are only 21 million bitcoins in circulation. Both gold and bitcoin have limited supply. Gold market is in an uptrend. The demand for gold is rising due to its use in jewellery and the monetary policy followed by the central banks. However, bitcoin is facing less demand patterns as the market is more influenced by speculation. It […]

What Is the Bitcoin Halving?

The bitcoin halving is expected to take place in May 2020. How can if affect bitcoin's price? What is it? All bitcoin transactions are stored in a ledger called blockchain. Every bitcoin transaction is verified in the network and new blocks are added to the chain. New bitcoins are generated automatically and are rewarded for those who verify these transactions successfully. The rewards was 50 bitcoins, but the software […]

Bitcoin Forecast — March 26th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 26th session. Bitcoin/USD — The market initially rallied on Wednesday session, but then rolled over to drop by 1.5%. The market is reaching towards an area, which was previously supportive, and it could now offer resistance. The Fed is doing more quantitative easing. However, bitcoin is unable to gain from this situation. A candle close above the $7,000 […]

Bitcoin Forecast — March 24th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 24th session. Bitcoin/USD — The market initially rallied on Monday session, but then rolled over to give back some of the gains. The market could consolidate between the $7,000 level and the $6,000 level. A break below the $6,000 level is very bearish and it opens the door to the $5,000 level. There is a strengthening of the US dollar at the moment. You need to see a candle […]

Bitcoin Forecast — March 23rd 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 23rd session. Bitcoin/USDD — The market rallied on Friday session, but found the $7,000 level as significant resistance. This level was previously supportive and now it should act like resistance. You can see the shooting star candlestick right below this level on the daily chart, which shows signs of weakness. So, rallies that show signs of exhaustion […]

Bitcoin Forecast — March 20th 2020

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 20th session. Bitcoin/USD — Bitcoin has broken above the $6,000 level. However, you can expect the $7,000 level to be the beginning of the supply zone. So, you can fade price action to the upside, and short rallies that show signs of exhaustion. The market needs to clear the $8,000 level so that you can feel comfortable to buy bitcoin again.

Bitcoin Forecast — March 18th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 18th session. Bitcoin/USD — After this huge fall, bitcoin was bullish on Tuesday session, up about 10%. It bounced off the $5,000 level to show signs of support. The market could remain in consolidation between the $5,000 level and the $6,000 level. It looks like the market is trying to stabilize at this level after this huge selling. A break […]