In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the July 3rd session. Bitcoin/USD — The bitcoin market is looking to find support at the $9,000 level, the uptrend line, and the 50-day EMA. Bitcoin needs to overcome strong resistance at the $10,000 level, which is also psychologically significant. The next target could be the $12,000 level. Pullbacks have plenty of support extending down to the 200-day EMA. The $8,000 level is seen as the short-term […]
Posts Tagged ‘Cryptocurrency’
Bitcoin Forecast — June 30th 2020
June 30, 2020 at 15:16
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 30th session. Bitcoin/USD — The Monday session saw the bitcoin market to pull back a bit. However, the market recovered as the 50-day EMA, and the uptrend line offered support. The market ended up forming a hammer candlestick at the bottom of the ascending triangle pattern. To the upside, the $10,000 level is psychologically significant, and strong resistance. A break above this level is seen as a long-term move. […]
Bitcoin Forecast — June 29th 2020
June 29, 2020 at 18:21
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 29th session. Bitcoin/USD — The market is trading at the uptrend line of this ascending triangle pattern, which is confluent with the 50-day EMA. It looks like the market is building enough momentum to move to the upside. The $10,000 level above is psychologically significant and needs to be cleared for a long-term move to the upside. Further to the downside, the 200-day EMA will offer […]
Bitcoin Forecast — June 24th 2020
June 24, 2020 at 14:23
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 24th session. Bitcoin/USD — Bitcoin has given back some of the gains after a short bullish session on Tuesday. However, the Monday session saw the market to make an explosive move to the upside. The market has been trading inside this ascending triangle pattern. It looks like a pullback is coming. The 50-day EMA below will offer plenty of support. The market […]
Bitcoin Forecast — June 17th 2020
June 17, 2020 at 15:31
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 17th session. Bitcoin/USD — The market pulled back from the 50-day EMA and now once again trading inside this ascending triangle pattern. To the upside, the $10,000 level is psychologically significant, and strong resistance. The market needs to clear this level for a major move to the upside. Then it becomes a buy and hold situation. To the downside, the $8,000 level is seen as the short-term […]
Bitcoin Forecast — June 16th 2020
June 16, 2020 at 16:16
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 16th session. Bitcoin/USD — Bitcoin on Monday session, broke to the downside of this ascending triangle pattern. But the 50-day EMA offered strong support. As the Fed announced that it buys individual bonds of large companies, it caused the dollar to get crushed. You need to wait for a candle close above the $10,000 level, which is psychologically significant, for a long-term move […]
Bitcoin Forecast — June 15th 2020
June 15, 2020 at 16:15
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 15th session. Bitcoin/USD — As you can see on the daily chart, the market is trading inside this ascending triangle pattern. The Friday's trading session was very quiet. The risk appetite got crushed on Thursday. To the downside, the 50-day EMA looks supportive. Further to the downside, the 50% Fib retracement level will offer support. The $10,000 level is psychologically significant […]
Bitcoin Forecast — June 11th 2020
June 11, 2020 at 17:08
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 11th session. Bitcoin/USD — The $10,000 level is psychologically significant and is offering strong resistance at the moment. As you can see on the daily chart, this market has ended up forming an ascending triangle pattern. A daily candle close above the $10,000 level is very bullish and the next target is the #12,000 level. The next target could be the $15,000 […]
Bitcoin Forecast — June 8th 2020
June 8, 2020 at 16:27
In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 8th session. Bitcoin/USD — At the moment the $10,000 level looks psychologically significant, and could offer strong resistance. Also, you can make an argument for a ascending triangle pattern. A candle close above the $10,000 level looks significant and the next target is the $11,000 level. To the downside, the 50-day EMA looks supportive. Then the next support could come at the 200-day EMA and then […]
What Is Bitcoin?
June 7, 2020 at 12:48
Bitcoin is a decentralized digital currency that you can send and receive on the internet. It has a number of advantages. Bitcoins can be exchanged between two persons without the need for a bank. It reduces the fees involved in these transactions. You can use bitcoin exchanges to buy or sell bitcoin using your dollar, euro, etc. The bitcoin that you purchase are then stored on your digital wallet. You […]