Posts Tagged ‘Cryptocurrency’

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 21st session. Bitcoin/USD — The market has been hovering below the 50-day EMA and this uptrend line. The measured objective of this descending triangle pattern comes at the $5,000 level. Bitcoin is yet to be adopted. Since investments started flowing out of China, bitcoin started rallying. Once capital control came into place, bitcoin stopped rallying. With […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 14th session. Bitcoin/USD — Bitcoin is trading just above this uptrend line and the 200-day EMA. Also, the $8,000 level looks supportive leading to the confluence. The measured move of this descending triangle pattern is the $5,000 level. A break below the $8,000 level is very bearish for bitcoin and you could be looking for selling opportunities from rallies that […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 11th session. Bitcoin/USD — It looks like this market could test the bottom of this descending triangle pattern for resistance. Also, the 50-day EMA will offer strong resistance. So, rallies that show signs of exhaustion are to be sold. The measured move of this triangle pattern is the $5,000 level. At the moment, the bitcoin market looks very bearish.

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 10th session. Bitcoin/USD — With the 200-day EMA holding as support, bitcoin is once again showing signs of life. The market was up about 6%. It looks like the volume as contributed by institutions showing interest. To the upside, the market could test the 50-day EMA, and the $9,250 level for resistance. So, fading price action to the upside, and selling them is the way […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 9th session. Bitcoin/USD — The market has been drifting sideways and hovering around the 200-day EMA at the moment. Gold rallied when the central banks implemented rate cuts and easing. However, bitcoin only looks bearish at the moment. The measured move of this descending triangle pattern is the $5,000 level.. So, bounces are going to be short lived, and you can […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 7th session. Bitcoin/USD — Recently, bitcoin market broke below the descending triangle pattern. The measured move of this breakdown is the $5,000 level. At the moment, the market is just hovering around the 200-day EMA. Central banks around the world are easing and cutting rates at the moment. However, this has not brought any advantage for this market. There was […]

The mining of bitcoin and other cryptocurrencies are controlled by an event called halvings. Because of halvings, only less coins can be mined over time. So, the supply remains fixed. For example, consider there are 10 million units of bitcoin in the market. Assume that 16 bitcoin units are mined every 10 minutes. It means 840,960 coins are mined every year. Once every two years, an event […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 4th session. Bitcoin/USD — The market has been drifting sideways and hovering around the 200-day EMA, at the moment. Recently, it broke below the descending triangle pattern. The measured move of this pattern is the $5,000 level. Gold and silver have managed to gain due to the rate cuts and easing by central banks. However, bitcoin has failed to gain from this situation. […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the October 2nd session. Bitcoin/USD — The bitcoin market ended up forming a shooting star candlestick on Tuesday session, after trying to rally. The market is now trading below the bottom of this previous consolidation zone and is also hovering around the 200-day EMA. The measured move of the descending triangle pattern is the $5,000 level. A break below this hammer candlestick signals […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 30th session. Bitcoin/USD — Recently, bitcoin broke below the descending triangle pattern. Now, it is trading below the 200-day EMA. The measured move of this pattern is the $5,000 level. The market lacks a catalyst at the moment to move this market to the upside. So, the market looks bearish at the moment. This is the moment that you can take advantage to sell […]