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Bitcoin (BTC) Bears Finally Take Control

Bitcoin (BTC) has closed the day below the 38.2% fib extension level. This is a very important fib extension level that extends all the way from 2015 since the beginning of the parabolic rally to the all-time high in 2018. We expected significant resistance around this level and we did see resistance twice before. Bitcoin (BTC) closed the day before just below it but yesterday it shot up way above it to mislead the market into thinking that it was the beginning of a new bullish uptrend while in reality it was just the market makers shaking out bears with...

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When Is Bitcoin (BTC) Going Down?

The most important event of 2019 which was the Litecoin (LTC) halving has finally happened. If we take a look at the daily chart for LTC/USD, we can see that it did not shoot up towards a new all-time high as the majority expected it to. In fact, the price retraced quite sharply and ended up closing not just below the 50 day EMA but the 21 day EMA. This goes on to show us what expectations mean compared to reality. The price has declined below $100 and is now eyeing further downside as the market gets closer to the...

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What Happens After Bitcoin (BTC)’s Recent Rally?

Bitcoin (BTC) has finally made a big move to the upside as the price is now well above $11,000. We expected this move and in our last analysis on BTC/USD, we said that if the rally past $11,000 materializes we are likely to see further upside. It finally happened and Bitcoin (BTC) shot quickly past $11k and has now run into a strong resistance at the 61.8% fib retracement level around $11,600. This is by no means going to be easy to breach and the price is more likely to begin a downtrend from here. If we take a look...

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Bitcoin (BTC) Rallies Hard Ahead Of Litecoin (LTC) Halving

Bitcoin (BTC) has finally broken the trend line resistance and now it is in the clear to rally higher from here. We can expect the price to rally as high as $11,800 from here because there is not much that could stop the price from rallying even higher. That being said, we do not expect the previous yearly high to be broken. We saw the price struggle inside the rising wedge and just when everyone was expecting it to fall further when it showed weakness it did the opposite and broke the rising wedge to the upside. This rarely happens...

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Beware Of Temporary Manipulation In Bitcoin (BTC)

Bitcoin (BTC) started the day in red and is already trading below the 50 day EMA. It is going to be very interesting to see how it turns out, whether we could see another move up before the downtrend begins or if the price is just going to fall straight to mid $8000s from here. However, what’s more interesting than that is the way the price rallied yesterday. We saw the Fed cut interest rate for the first time since the 2008 financial crisis. This was a major even which had a serious impact on major financial markets. Usually the...

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