Posts by Mr. W

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While volatility remains elevated in bitcoin overall there appears to be at least a modicum of stability starting to creep into the market, due at least in part to the tweet yesterday afternoon from Elon Musk (and Michael Saylor) regarding bitcoin mining’s energy usage…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook It was another fairly rough weekend for the bitcoin bulls as price sank back down into the low-$30k’s on bearish technicals and elevated exchange volumes, so we really need to stay cautious despite the bounce we’ve seen today. Having said that, positive news that…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook More FUD was on the menu for the crypto markets today as the US Treasury called for stricter regulations on the sector while President Biden continues to promise that the IRS will be cracking down, so the rather resilient price action that we’re seing…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The cross currents are many in the bitcoin markets early this week as more Elon Musk/Tesla news over the weekend led to additional weakness yesterday that has been reinforced by the obligatory “China bans bitcoin” headline FUD earlier today, all while the technicals remain…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The fallout from the Elon Musk shenanigans last week has persisted into this weekend with bitcoin moving back down into the $40k’s with conviction thus turning the technicals much more bearish and increasing the odds of further downside before we see a sustainable bottom.…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Indeed the bitcoin markets sold off yesterday as expected swiftly pushing down to a local low of $53,500 where a wave of derivatives liquidations was able to put a floor under the market, and since then price has been slowly but steadily rising back…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook With little in the way of news over the past few days and a technical setup that leaves something to be desired it comes as no surprise that the bitcoin markets have languished in the $50k’s as anticipated, a trend that we expect to…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The bitcoin markets have been slowly drifting to the upside over the past few days reaching a new regional high of $59,501 earlier today, which comes as no surprise given our call for a move up to the $60k region this weekend before sellers…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The manic price action that we’ve seen for the past few weeks in the bitcoin markets continues into today as price pushed back above the $57k level on news that NYDIG has partnered with hundreds of US banks to bring crypto to regular banking…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook As we get into this first week of May the bitcoin markets aren’t looking all that great as price has been selling off over the past 24 hours moving all the way back down to the $53k area on weakening short-term technicals and a…