Tag: dollar

Bitcoin comeback for another bullish round

Almost two weeks ago I predicted that the BTC/USD pair would continue to grow and I set my target level around the 253 area. (I know, I said 254.206, but it’s always a good idea to set your TP just a little bit lower). Today, on the 29’th of June, 2015 the target was reached and yet another successful trade has now been closed. The only thing that will keep bugging me is the fact that I couldn’t wait a few days into the evident correction and jumped on the train too early.

Clear bullish signals from Bitcoin

There’s no doubt that the cryptocurrency will climb even higher in the weeks to come. If we take a look at the weekly chart we can see that something big is about to happen.

Bitcoin versus usd weekly chart showing imminent breakoutThere’s just no way this can continue for very long. Sooner or later a breakout of massive scale is going to happen. We are seeing the first signs already by looking at smaller time frames, mainly the 1H and 4H.

The correction that started some time on the 18th of June has now officially ended as we moved past the 250.810 range (the closing price for the 17th of June candle).

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BTC/USD breaks through resistance of May 20th New target set around 237.320 USD per Bitcoin

Yesterday’s resistance broken

Bitcoin has succeeded in breaking through a pretty solid resistance level of 234.394 setting our next target as high as 237.320 USD per Bitcoin.

New York Stock Exchange Influence

The news from a few days ago where the NYSE announced that they will begin monitoring the price of Bitcoin, has greatly influenced the current price increase. The reason is simple enough: traders believe that if NYSE is monitoring the price of Bitcoin, it has to be worth investing in. This has already resulted in the overall increase of buyers versus sellers because new investors, who have previously stayed away from Bitcoin, are now jumping in just to get a piece of the pie.

 

We can’t be sure how exactly all this plays out, however, for the time being it’s very likely that we are going to see some serious bullish movement for BTC/USD. Just imagine all of the “old school” traders who used to stay away from Bitcoin now beginning to question their beliefs. It’s definitely going to be one hell of a ride we have ahead of us in this summer 😉

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New York Stock Exchange starts to monitor the value of Bitcoin

Bitcoin just took a huge leap towards becoming a more legitimate and trustworthy crypto currency. Yesterday, on May 19th, The New York Stock Exchange announced that they will begin monitoring the Bitcoin price against the US dollar just like any other foreign currency pair.

 

“Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class”

 

Source: Businesswire.com

 

What this means for us?

BTC USD May 20 Chart Resistance Level 234It’s very likely that the BTC/USD pair will soon skyrocket because that has always happened with high impact news like this one in the past. We have already witnessed a solid bullish candle close just after the news was published to the world.

 

The only thing to look out for at this time is the resistance level 234.394. Until this is broken we can’t really be sure where the price decides to go.

 

 

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BTC/USD Price analysis for the first half of May 2015

The morning’s correction

At around 10:30 AM the BTC/USD pair started to sell quite rapidly from 246.440 USD per Bitcoin, correcting the previous days bullish movement. It was of course expected because the market had reached the overbought condition almost at the same time.

Bullish expectations

9 May 2015 BTC USD Price Analysis Prediction Movement Pivot PointThe support level of 238.416 USD per Bitcoin seems to be holding nicely right now, but there is still some room to move a little lower. The trading volume has started to decline already indicating that a lot of the traders are already closing their SHORT positions, perhaps getting ready to go LONG once again.

Targets to aim for

If the support level of 238.416 holds then we can expect the price to move upwards to at least around the 241 USD per Bitcoin area. I wouldn’t bet on the 247.440 resistance just yet because the Bollinger Bands indicator is showing a slight downward direction at this time.

 

Thanks for reading and please use the Pivot Point Calculator I made to get your support and resistance levels easily!

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Middle part of March 2015 Bitcoin vs USD Analysis and what to expect from the market

Our patience has paid off

It’s the middle part of March 2015 right now, the sun is shining and signs of a long winter are slowly fading away. The beginning of spring seems to have helped Bitcoin reach equilibrium against the US dollar. We have closed quite a few long positions since our last Bitcoin related article and now it’s time to sit back and observe the market a little closer because we are bound to have some drawback right about now.

 

16 March 2015 BitCoin and USD Price AnalysisBitcoin price in March 2015

We are reaching closer and closer to the overbought market condition which most likely means that the price is bound to correct itself pretty soon. There are good solid support levels around 286.675 and 283.701 and it’s likely that the price is going to try those levels throughout the other half of March, 2015.

 

Unless something extraordinary happens in the crypto currency world I estimate another bullish run not before April. So bulls, I’m afraid you’re going to have to hold back for a while, but know this: your time will always come!

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Bitcoin gains 4.44% against the US Dollar in the beginning of February 2015

Bitcoin vs dollar btc usd trend move price chart pivot pointBitcoin, you can do better than that

At the end of last month I posted a quick overview on the price of Bitcoin and what it may have in store for us next month. We’re currently three days into February and BTC has gained a measly 4,44% after some insignificant downward movement that didn’t break any major support levels for us.

Bulls getting stronger

The daily pivot point along with three solid resistance levels have all been broken through today and the market is continuously making higher lows which indicates that the bulls have finally gotten bold enough to start a run. My advice to bulls is to stop being afraid and move upwards horns first because February the 3rd has thus far been very friendly for us, bulls.

 

We can expect some drawback soon, but it is not likely to do much damage. If anything, we will have an even better opportunity to open another long position.

 

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Too soon? Bitcoin moving sideways against the dollar – Market unsure

Bitcoin versus dollar btc vs usd market sideways price chart graph 2015 january pricingToo soon?

A few days after my confident prediction that it’s high time to buy Bitcoin on the 27th of January post, I didn’t pay attention to the charts for days. Now, on the last day of January, I checked the charts again and to my disappointment the price hadn’t gone up at all- instead it came down -$24.. USD and has now decided to move sideways completely unsure of itself. I have a feeling a lot of traders are left clueless of the weird movement because we know for a fact that the first licensed Bitcoin trader is now operational which should mean more trust and interest in the crypto currency.

 

Of course that alone don’t necessarily have to mean much for the price of Bitcoin, but the technical analysis also indicated a bullish movement. After taking a look at the charts I had to bring down the trend line, because my last one was broken through, and as you can see it’s almost vertical now. Everything else is also showing signs of sideways movement and that usually means a breakout is likely going to happen very soon. Perhaps there is still a possibility that my prediction will come true? It wouldn’t be the first time when my timing is way off.

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First licensed Bitcoin Exchange opening today. More trust in BTC likely to move BTC/USD higher this week

First licensed Bitcoin exchange opening

The first licensed U.S based Bitcoin exchange will be opening later today which is great news for all the bulls out there because this move is likely going to bring back a lot of lost trust for the crypto currency, Bitcoin.

While I am very surprised to see a move like that from the U.S I am happy it has finally been done. There are serious money involved and since it’s now licensed and approved in many states, the chances of someone running away with your coins has decreased a lot- therefore more people are going to trust the exchanger with their coins and because they take no fees for the first two months we can expect a buying marathon to take place very soon.

All the way up

Just yesterday on the 26th the price per Bitcoin jumped all the way to $303,303 USD which is the highest point yet in our newly forming upward trend. From there the price correction occurred all the way down to $241,094, but we’ve confirmed with the two new bullish candles that this is likely going to be the end of it. We can be fairly confident that the resistance level of $271,372 is going to be breached later today or some time tomorrow.

The beautiful upward trend that is forming on my charts along with the fact that today Coinbase is going to make history it’s quite safe to go long in BTC/USD. Just promise me you will make up your own mind before you blindly take my advice, that’s all I need to know.

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Bitcoin bullish breakout turning into a solid trend- more gains ahead!

BTC USD Price Prediction Buy Bulls Increase Bitcoin price graphicSlow and steady gains

The price of Bitcoin has been slowly recovering from the biggest drop we’ve seen since the year 2013. For the last ten days the price has steadily been moving upwards after a bullish breakout closer and closer to the resistance level at around 260.7 USD. I am fairly confident that at least up until this point there shouldn’t be anything that will stop the trend. We will most likely see some fallback around that level, but if all goes well the 260 USD mark will be broken at the end of January or early February.

 

Pivot point calculator

Since I have upgraded to a much more professional software, the MetaTrader 4, I now have a lot better indicators and overall user interface. I was looking around for a MT4 pivot point calculator script and I found some, but I can’t be sure how reliable they are or what algorithm they are using so for the time being I am still using this: Pivot Point Calculator. I will let you know once mine is ready- I am planning on making one really soon because it’s not really making sense to manually type in those pivots every morning, right?

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Bitcoin starts the year 2015 with a bearish breakout against the dollar

Wait for it…

In my previous post I advised traders to sell their coins if they had any and wait at least a week, maybe even two, into the new year to see how the market adjusts itself.

 

After more than a week of minimal price decline the breakout finally happened and as you would expect, it was a selling marathon. Why? Because in December 2014 the BTC/USD broke through a pretty solid support level– only magic can save us now.

 

Bitcoin dollar btc usd oversold market condition price chart graphWhen will it go back up?

Well, the market is already oversold and keep in mind that a support level, if broken, will become the new resistance almost every time. So we should definitely see Bitcoin gradually climb back all the way to at least $320, but that should be all it can do in the short term. In my last post about BTC I also mentioned that we could see the price as high as $700 this year, but we need at least 3-6 months to get there.

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