February 10, 2021

Market Update 2/9 – Watch this Bitcoin Level!

If I look at Bitcoin as nothing more than a liquid asset and apply a channel to price history then 53k (give or take) is a level to pay attention to. The level is defined by the 75 line of the channel from the January 2015 low. As an aside, the Bitcoin bottom then was 1/15/2014…one day before the SNB let the floor go on EURCHF. I bought BTCUSD that day but then sold in May 2017. Worst exit ever? The fact that I think about that now is instructive from a timing standpoint. Anyway, the 25 line was support (highlighted) from May to October last year. As per median line symmetry, the 75 line is expected resistance…which is 53,000.
January 11, 2021

Market Update: January 10

EURUSD is breaking down and focus is on 1.1915 or so. The underside of the just broken trendline near 1.2270 is now proposed resistance. 1.2125 is a possible bounce level.
May 12, 2020

Bitcoin’s 3rd Halving Event Takes Place: Will History Repeat Itself?

Bitcoin has just gone through its third ‘halving’ since it launched 11 years ago. The event takes place roughly every four years to cut the reward given to miners for solving complex mathematical problems using high-powered computers.
April 30, 2020

Bitcoin Lifted by Rising Risk Sentiment

Bitcoin extended its gains in early Thursday trading, reaching almost 9,500 before retracing sharply. The world’s largest cryptocurrency by market capitalization has benefited from its appeal as a hedge against inflation amid unprecedented stimulus by central banks.
April 24, 2020

Bitcoin Bulls Eyeing Weekly Gains Amid Rising Risk Appetite

A surge in Bitcoin on Thursday to over $7,750 marked the latest leg of an uptrend that began in mid-March. Traders viewed Friday’s expiry for CME April Bitcoin futures as the catalyst for Thursday’s thrust higher. The CME Bitcoin futures contract expires every fourth Friday of a given month.
OPEN ACCOUNT