trading

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

January 31, 2015 5:13 pm Published by 1 Comment

Too 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... View Article

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

January 25, 2015 7:11 pm Published by Leave your thoughts

Slow 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.  ... View Article

Bitcoin slowly recovering from a massive price drop all the way to $167

January 16, 2015 12:03 pm Published by Leave your thoughts

Right now the lowest point BTC has reached is $167,125 USD per coin. Let’s hope it will stay that way!   But there are still a few mixed signals here. For example we all know that this bullish movement was inevitable simply because we have been dropping since the beginning of the month. As I mentioned in my previous post we have been lingering in the oversold area for too long.   So this bullish movement might not mean anything else other than a simple correction. Also if you notice how the second bullish top is a little bit lower... View Article

Bitcoin now worth less than 200 USD – Dropped from 225,703 to 190,309 in less than a day

January 14, 2015 6:19 pm Published by Leave your thoughts

Bitcoin now worth less than $200 The two hundred dollar mark has been breached earlier today when Bitcoin fell from 225,703 all the way through 200, briefly touching the $176 region, but getting some decent support around $180-$190 later. The drop seems much more significant now than it did yesterday when I suggested going short for short term. Nice round numbers like 200 are key points in all trading simply because people like these numbers. The breach below 200 just gave a pretty strong blow below the belt for all the bulls. Bitcoin mining not profitable Back when Bitcoin was... View Article

Second half of January not looking so good for Bitcoin

January 13, 2015 1:46 pm Published by 2 Comments

MetaTrader 4.0 As you can see I have finally updated to a better, more sophisticated software. The price chart looks a lot better now with a lot of custom features and I already looked into MQL4 programming language which at first glance seemed epic easy to master so keep an eye out because in the future I could create a trading robot for Bitcoin 😉   Other half of January It’s not looking good for the bulls- at all. The breakout since the early days of year 2015 has been harsh for the bulls. Bitcoin has now fallen from $317,3... View Article

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

January 4, 2015 12:20 pm Published by Leave your thoughts

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.   When will it go back up? Well, the market is already oversold and keep in mind that... View Article

BTC/USD in the year 2014 and what to expect from 2015

December 19, 2014 1:44 pm Published by 1 Comment

 Bitcoin in the year 2014 We started out strong this year! After the traditional years end selling marathon where the BTC fell from its highest point yet, the $1200 area, we quickly recovered in January 2014 from $600 all the way up to $1000 again. Investors were confident that Bitcoin is the new goldmine. The media coverage It’s no surprise that the media was creating a fuss about Bitcoin considering that BTC is a commodity that suddenly exploded from $100 to $1200 in just a few weeks. Everybody was talking about Bitcoin in 2014. People were creating new businesses that... View Article

BTC/USD has broken a support level that held good for months. More downward movement highly possible!

December 17, 2014 4:33 pm Published by Leave your thoughts

BTC/USD Support broken Sadly the strong support level that held for months has finally been breached. If the bearish candle closes below $320 level then we can expect more downward movement very soon. We have already tested $317 which is the lowest point BTC/USD has ever been since it started to gain bullish momentum at the end of 2013. Changes ahead We are at a critical point right now with a lot at stake. Should the support level breach be confirmed tomorrow there is very little that our technicals can do to help Bitcoin. The only way I can see... View Article

It wasn’t Elliott, at least not yet… Further speculation on the price of Bitcoin

December 11, 2014 2:17 pm Published by Leave your thoughts

No Elliott in sight In my last post about Bitcoin I was fairly convinced that we have entered the final stages of the Elliott wave theory, but looking at the charts today it’s clear that it wasn’t exactly true. The market started going sideways in the last few days of November and continued to do so for an entire week of December until on the 8th of December the bears finally gave up and bit the bulls in the ass hard. As I saw it unravel I tried to get rid of the coins I was holding, but I wasn’t... View Article

The long waited confirmation for bullish Bitcoin

November 9, 2014 2:28 pm Published by Leave your thoughts

It’s happening! First of all check out how well the support level (black horizontal line on the chart) has been holding. The price bounced right back up after hitting it the second time with a significantly lower selling strength. This means that the buyers are slowly gaining strength and it’s well known that all the prices anywhere tend to go up much slower than when they fell. That’s why the bulls are always more patient traders and bears try to bite it quickly.   Let’s check out MACD When we add the MACD (moving average convergence/divergence) indicator to our charts... View Article