Posts by Mr. W

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook With Digital Currency Group (DCG), parent of Grayscale, announcing that they are buying $250 million worth of GBTC shares, presumably in order to reduce the current discount to NAV, the bitcoin markets are on fire swiftly approaching the $58,354 all-time high (ATH) on strong…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While the broader consolidation continues in the bitcoin markets, it didn’t take long into the weekend for the newflow to turn positive again, this time regarding some international players that are buying BTC (and ETH!), thus forcing the near-term technicals into the backseat once…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook As newsflow slows over the weekend and the technicals take over in terms of price action it comes as no surprise that the bitcoin markets continue to consolidate in the high-$40k’s as expected, and over the near-term we see no reason not to expect…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While it was nice to see the bitcoin markets rally up into the $52,000’s yesterday, it comes as no surprise that the move was unsustainable given the state of the technicals on Tuesday and our outlook at that time. Since then price has pulled…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook With high-profile investors continuing to proclaim their interest in bitcoin and crypto, Dan Loeb and Kevin O’Leary being the latest over the past 24 hours, we are still quite bullish from a longer-term perspective. The technicals confirm this view, although the run-up to and…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Following an expectedly bearish weekend that saw the bitcoin markets move all the way down to the $43k level, a newsy day today has shifted the narrative back toward the bull camp as we begin the month of March. Not only did Michael Saylor…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Some mid-week strength up to the $52k area has turned into some late week softness down below $45k over the past 24 hours, and despite a bounce back to $48k this morning price action remains fairly bearish overall. The technicals are also in no…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The bitcoin markets briefly recovered back above the $50,000 level this morning following news earlier today that Michael Saylor and MicroStrategy finished buying another 19,452 BTC at an average price of $52.765. While this is no doubt good news for the bulls longer-term, it…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Despite the bitcoin markets reaching new local and regional lows earlier today price action and the technicals continue to suggest that this is simply a correction/consolidation in a still intact bull market, something that we think is actually a healthy development given the pace…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Following what was a great weekend for bitcoin with price hitting new all-time highs above $58,000, the market is now pulling back on comments by Treasury Secretary Janet Yellen that bitcoin is an inefficient means of transacting and is likely used for illicit purposes.…