|Day's range||31.66 - 32.48|
|52-week range||0.43 - 515.59|
|Volume (24 hrs)||1.74M|
|Volume (24 hrs) all currencies||12.88M|
Bitcoin starts the week in the red, alongside the broader market, with an early afternoon move needed to avoid another week of decline. The Bitcoin bulls may be getting ready to make a move, but the news wires will need to behave.
Bitcoin markets fell during the week but found a bit of support in the midst of this negativity. There is a significant amount of support underneath, and it could determine where we go next. Quite frankly, if this does not hold things could get ugly.
Bitcoin try to rally late on Thursday, but as we came back to work on Friday, we started seeing that selling pressure again. Because of this, it looks like we have more of the same, and that it’s likely we will test major support below.
Bitcoin markets tried to rally a bit during the trading session on Thursday but continues to find resistance at the 50 SMA on the hourly chart. I think that the market should continue to struggle overall, as bitcoin seems all but hell-bent to go to the $6000 level.
The Bitcoin markets broke down a bit during the trading session on Wednesday, losing over 1% as I record this video. The 50 SMA is just above against the US dollar, as it is against the Japanese yen. It looks likely that we will continue to find sellers on short-term rallies, and at this point I think we are going to go looking towards the bottom of the larger consolidation area in both markets.
Bitcoin sits in positive territory early, but the gains are not particularly convincing and could lead to yet another reversal if Bitcoin doesn’t make a move soon.
Bitcoin markets were relatively quiet during the trading session on Tuesday, as there isn’t much in the way of a catalyst right now to move the markets. We have seen a major break down over the weekend, so it makes a lot of sense that the markets may need to take a bit of a break from moving so drastically. Perhaps we are trying to catch our breath, before trying to recoup some of the losses.
Bitcoin has struggled significantly during the weekend, as more government interference and hacking that is part of the landscape. I believe that after selling off the way we have, it’s difficult to jump in and at this point in time it’s likely that rallies will be sold yet again.
Bitcoin trails the broader market early as investors lick their wounds following the weekend tumble. A choppy day ahead could see further losses should the majors not make up reasonable ground through the morning.
Bitcoin markets fell slightly during the week, testing the will of the buyers, as although there was an attempt to rally, we ended up falling overall. That being said, there seems to be a bit of ambivalence when it comes to trading bitcoin over the last couple of weeks.
Bitcoin markets fell a bit during the Freddie session again, as we continue to struggle to find it forward momentum. Because of this, I think it is going to end up being more of the same, and it’s possible that we were forming a bit of a double top during the day on Friday as well.
Bitcoin back in the red, but continues to find support at key support levels to avoid heavier losses in what’s been a dicey week for the crypto bulls.
Bitcoin did very little during the trading session on Thursday, as we hang about the $7700 level. I think that the market is trying to grind higher, but there is so much in the way of resistance above in both markets that I follow involving Bitcoin, that it’s only a matter time before the sellers return.
Bitcoin found support on Tuesday, holding above key support levels, leaving the day ahead to decide Bitcoin’s fate for the remained of the week, the volatility questioning the bearish trend reversal formed in late May.
Although there may be some speculative bottom-pickers supporting the markets today, most of the buying is likely being driven by short-covering and profit-taking. Once this short-term correction is complete, I expect short-sellers to re-emerge to take advantage of more favorable prices.
Bitcoin markets fell again during the trading session on Tuesday, as we continue to see a lot of trouble in the crypto currency markets. Ultimately, when I look at the Bitcoin charts, I see a couple of ascending wedges that have been broken, which of course is a negative sign.
Bitcoin markets fell a bit during the trading session on Monday again, as the crypto currency markets simply cannot keep gains for a significant amount of time. Because of this, it makes sense that longer-term traders are looking to sell this market, with the major resistance barrier is just above waiting.
Bitcoin came under fire in the early part of the morning, with support levels kicking in to avoid sub-$7,600 levels, a midday rally needed to return to $7,700 levels and bring $8,000 into sight.
Bitcoin markets struggle again during the trading session on Friday as we continue to see plenty of resistance above and are most certainly in a downtrend. When I look at the charts, it’s likely that the bearish pressure should continue to push towards the support level underneath.
Bitcoin markets continue to be very noisy, as the markets have been reacting to various headlines, and of course the uncertainty of crypto currencies in general. Big moves to the downside have been a mainstay in this market as Bitcoin has lost its luster.
Bitcoin rallied a bit against both the US dollar and the Japanese yen during the Wednesday session, gaining roughly 0.9% as I record this video. Gone are the days of the 15% gains in 24 hours, and I think part of what we are seeing is a readjustment of expectations. Now that the institutions have gotten involved in this market, the volatility will return to more normal expectations.
Bitcoin had a positive start to the day, but has struggled at $7,500, with investors likely to lock in profits should Bitcoin fail to break through to $7,600 levels through the morning to bring resistance levels into play.
Bitcoin markets rallied significantly during the day on Tuesday, gaining over 4% as I record the video. The market looks likely to continue to go a little bit higher, but there are so many resistance areas above that I feel this will only end up being a selling opportunity by the time it is all said and done.
The Bitcoin markets fell during the trading session on Monday as liquidity may have been a bit of an issue with the Americans away for Memorial Day celebrations, it this of course has an influence on what happens in the markets. I believe that rallies are to be sold though, and that the $8000 level now will form a major barrier that will be difficult to break.