Posts Tagged ‘Cryptocurrency’

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 21st session. Bitcoin/USD — The technical analysis for this chart has not changed for the last few weeks. As you can see, we have a descending triangle pattern here. We are waiting for the bitcoin to breakout in either direction. However, the catalyst is not there yet. From 6,000 to 5,800 is the support zone. A break below this zone will […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 20th session. Bitcoin/USD — Wednesday session saw the market do nothing. Bitcoin is expected to break out of this triangle pattern soon. The 6,000 level below looks supportive. A break below would open the door for much lower prices. Alternate scenario is to expect a break above this downtrend line and target for 10,000. Rallies that shows signs […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 19th session. Bitcoin/USD — Bitcoin attempted to rally once again despite all things that are against it. We rose about 1.8%. However, in terms of volume, it looks like people have lost interest. When we zoom out this chart, you can see this descending triangle pattern, and soon a breakout in either direction […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 18th session. Bitcoin/USD — Once again, the market fell, about 3%. Looking at this daily chart, we have this descending triangle pattern. Soon, the market could breakout to the upside or downside. To the upside, the 7,000 and 10,000 are the targets. We are reaching a point where the market has to make up its mind to get out of this triangle. This […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 17th session. Bitcoin/USD — Things have not changed much since January for bitcoin. Because, this downtrend line has been offering resistance every time bitcoin rallied. The only thing that is positive is the support below at 6,000. Soon we could break out of this descending triangle. A break to the upside, the 10,000 is your target. […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 14th session. Bitcoin/USD — Nothing much has changed. So, we like to sell rallies that show signs of exhaustion closer to this downtrend line. It looks like the bearish sentiment is to continue until a major news event comes into play. The 7,000 level looks like a strong resistance level to limit an upward movement. Only the 6,000 […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 13th session. Bitcoin/USD — Bitcoin made a small gain of 1% during the trading session on Wednesday. This is very little when viewed from the longer-term charts. Bitcoin is in a big downtrend since January. The 7,000 level looks like major resistance where sellers are expected to step in. Volume has been decreasing over time. The market […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 12th session. Bitcoin/USD — Bitcoin has fallen a bit, about 1% for the trading session on Tuesday. It is hovering above the 6,000 level, which looks supportive. Hence, traders are skeptical to short bitcoin just above this level, as this level looks supportive. Shorting rallies that shows signs of exhaustion at a slightly higher level is the best […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 11th session. Bitcoin/USD — On the daily chart, the Monday trading session produced a red candlestick indicating bearishness for bitcoin. There are two things that are worth paying attention to. The 6,000 level below looks supportive. Next, this long-term downtrend line. Upon breaking the 5,800 level, the floodgates to the downside will be opened. It could make […]

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the September 10th session. Bitcoin/USD — As you can see, it looks like a market that wants to continue its price action of rallying towards this downtrend line and then to fall again. As Goldman Sachs announced that they are not going to do anything with cryptocurrency anytime soon, we had this price fall, and also the volume was […]