Category: Bitcoin

Bitcoin Technical Analysis for 12/17/2015 – The Pressure is Building Up

Since the big sell-off that occurred on December 11, the price of Bitcoin has steadily appreciated with some interesting price action along the way. The $442 area is now a fairly established pivot zone; acting twice as resistance and another two times as support. There is another major pivot zone that can be observed on the 30-minute chart, which just happens to be preventing the market from breaking higher. Of …
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Bitcoin Technical Analysis for 12/08/2015 – Triangle Formation

Bitcoin is now trading in sideways range that is getting tighter and tighter. The 1-hour chart is showing a very clear triangle formation. This type of pattern usually indicates a building up of pressure in the market, which usually resolves itself with a very violent break. As of now, there really aren’t any technical signs as to which way the market is likely to break. As I mentioned in my …
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Bitcoin Technical Analysis for 12/05/2015 – $369 Still a Key Pivot

The $369 pivot zone is continuing to assert its importance. I mentioned this price level in my prior technical analysis and how it might act as resistance again. The market did respect this pivot as resistance on the 2nd of December, when price immediately reversed after hitting $369, and subsequently dropped to $355. Price is now trading above $369 once again, so this pivot will most likely now act as …
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Bitcoin Technical Analysis for 12/02/15 Honeybadger fell asleep

The recent price action was quite unexpected. Despite all signs pointing to an upcoming crash post the black friday hype, the honey badger didn’t sleep Honeybadger doesn’t sleep 😉 However, today the honey badger finally fell asleep as the unwinding of the week long rally up to a high of $383 came to an end. Earlier this month, after the bull run to $500, bitcoin settled at $380 for a week. …
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