Hot Topics

Advertisement

Advertisement

Bitcoin Bears Take Over As Bakkt Rally Fails

Bitcoin (BTC) has declined massively right after the Bakkt launch. It has finally broken below a key symmetrical triangle just when the majority of traders were hoping for a rally to the moon. This is nothing surprising considering smart investors buy the rumor and sell the news. Even though this has recently become something common in this market but that does not change the fact that the market pumps and dumps in the same manner every hype cycle. While the price did crash because big investors bought the rumor and sold the news, we need to realize that that’s not...

Read More

Sally Ho's Technical Analysis 24 September 2019

Bitcoin Bitcoin (BTC/USD) extended its recent losses early in today’s Asian session as the pair traded as low as the 9609.37 area following a very volatile US trading session that saw Stops elected below the 9765.93 area, representing the 38.2% retracement of the 3128.89 – 13868.44 range.  A clue about the pair’s short-term bearish direction emerged during yesterday’s North American session when traders lifted the pair to the 9938.16 area, only to meet Offers and intense selling pressure that knocked the pair lower towards its weakest level this month. BTC/USD is now trading below its 50-bar MA (4-hourly), 100-bar MA...

Read More

Ethereum (ETH) Breaks Above Falling Wedge But Fails To Push For Reversal

Ethereum (ETH) has failed to capitalize on its break out of the falling wedge. The price closed the 4H candle above the 50 EMA and then pierced through the trend line resistance on the next candle. However, it failed to push further and has now once again been reduced to sideways movement. The 4H chart for ETH/USD also shows that the price broke below a key descending triangle but it did not fall as hard because we had a falling wedge in place that limited its decline. At the moment, it has failed to break past the 21 EMA on...

Read More

Bitcoin (BTC) Bulls Glum As Bakkt Rally Fails, Price Breaks Symmetrical Triangle

Bitcoin (BTC) has broken below the symmetrical triangle that many of the bulls have been counting on for a sharp breakout to the upside around the Bakkt launch. We have now seen that Bakkt was a non-event and there has been no impact on the price so far. This has left a lot of traders glum and they might be selling their bags soon in anticipation of a strong correction to the downside as generally investors “buy the rumor and sell the news”. If that happens this time, then we might not only see BTC/USD decline to the bottom of...

Read More

Bitcoin (BTC) Could Trade Sideways For A While

Bitcoin (BTC) has done practically nothing for the past few days. It has been trading sideways to the surprise of most bulls who expect it to rocket before the Bakkt launch. So far, nothing of the sort has happened and Bakkt has proved to be a nonevent for the cryptocurrency market. The symmetrical triangle that a lot of people have been counting on has finally been broken to the downside and I think it is time the bulls accept that. BTC/USD has now declined into the descending triangle but that does not mean that we have to see break below...

Read More