Market Overview: Bitcoin Futures Bitcoin futures short-term Bitcoin downside risks after bearish follow through during the week. Bears are controlling the market forces while the price is at an inflection point. Traders love inflection points because it gives them opportunities. If bears do not exit their shorts, the price will likely trade at $14000 within […]
Bitcoin Bull Reversal Failing
Market Overview: Bitcoin Futures The Bitcoin futures traded above last week’s high, and then it reversed down, with Bitcoin bull reversal failing. Traders are confused because the price is at support and resistance simultaneously. Bears targets are at an 80% drawdown from the all-time highs. Bitcoin futures The Weekly chart of Bitcoin futures This week’s […]
Bitcoin Lower Low Major Trend Reversal
Market Overview: Bitcoin Futures Bitcoin lower low attempting a major trend reversal. During the week, the price settled a new low of the year at $18360 and then reversed up. This behavior indicates that the bears are not strong: they are buying below lower lows; thus, numerous bears are considering closing their trades, which means […]
Bitcoin Testing Year Lows
Market Overview: Bitcoin Futures Bitcoin testing year lows. Because there is a heavy magnet around $30000, traders think that the price will get there at some point during the next quarters; However, before that happens, the price might suffer a 25% price decline from current prices, by testing the 2017 close. This would also mean […]
Bitcoin Bearish Follow through
Market Overview: Bitcoin Futures Bitcoin bearish follow through closed the week at the lows of the week, below last week’s low: traders continued selling. When June closed (the semester) the price went up; hence, traders won’t be surprised if the price reverses up again around there; However, there are decent signs of bearish strength suggesting […]
Bitcoin Bear Trend Resumption Attempt
Market Overview: Bitcoin Futures During the week, the Bitcoin futures traded above last week’s high and then reversed down, closing the week far below last week’s lows. The price is now headed to the lows of the year. Despite a Bitcoin bear trend resumption attempt, bulls and bears have reasonable arguments to sustain their respective […]
Bitcoin futures hold above 200-week moving average
Market Overview: Bitcoin Futures Bitcoin futures hold above 200-week moving average while the price is testing the May 9 low. During this week, the ioi breakout mode triggered to the upside, but the final result was not heavily bullish because the current weekly close is below the ioi high. Bitcoin futures The Weekly chart of […]
Bitcoin ioi breakout mode
Market Overview: Bitcoin Futures The Bitcoin futures traded during the entire week inside the price range of the prior week, giving a Bitcoin ioi breakout mode. After the 28% recovery in July, Traders wonder if this is just a Bear Rally or if the price is trying to consolidate a bottom. Bitcoin futures The Weekly […]
Bitcoin path of least resistance
Market Overview: Bitcoin Futures The Bitcoin futures gained 28% in July because Bears took some profits right at Major Support, the path of least resistance. During the prior Monthly Bitcoin Report, we mentioned that the most important level for the rest of the year would probably be June’s Close: After July’s follow-through month, Traders think […]
Bitcoin pullback after stalled at major support
Market Overview: Bitcoin Futures Bitcoin pullback finally became a reality after the price stalled at major support. Traders expect the price to reach $28800 during the upcoming months. Bitcoin futures The Weekly chart of Bitcoin futures Traders still think that the Bear Trend on the Weekly chart is contained within a Trading Range; therefore, the […]