Posts by Mr. W

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While the BTC bulls were unable to successfully defend the old $9966 regional low from late last week over the holiday weekend like we had hoped, they were able to keep price generally around $10k despite some brief spikes below $9900. This action has…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook It’s been a brutal couple of days for the BTC bulls as a string of bad news events, weakness in traditional markets, and technical exhaustion at $12,000 all combined into a perfect storm that took price briefly below the $10k level more than once…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The BTC bulls were in fairly good shape this time yesterday as price was pushing through $12,000, however a failed breakout combined with news out of Korea of a raid on Bithumb (the biggest Korean exchange by far) has sparked a selloff back into…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook So far, so good in terms of our forecast from Saturday seeing as though price has been grinding slowly higher over the past few days as expected but still doesn’t look ready for a sustainable breakout above $12,473 due to questionable technicals and unconvincing…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The bitcoin bulls have surprised us over the past few days as they were somehow able to defend the $11,112 regional low on Thursday and since then they have been slowly pushing price up to  the $11,500 area which is where consolidation has taken…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While the global macro backdrop continues to be favorable for the BTC bulls given the Jackson Hole speech by Fed Chairman Jay Powell in which he essentially said that they would let inflation run hot moving forward, the near-term price action and technical setup…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Once again the bulls were unable to take advantage of a potentially favorable technical setup early in the week, likely due to continued near-term uncertainty re: precious metals and the dollar, which gave the bears an opportunity to make an impact yesterday by pushing…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Although our hope for directional clarity has yet to materialize as we begin this last week of August, the fact that the bulls have been able to push price off of the low from last Friday is a good sign seeing as though this…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While the bitcoin markets continue to tread water in the high-$11,000’s as expected, the bulls aren’t showing the strength that we thought they would over the past 24 hours which actually isn’t surprising given that the gold and silver markets are mixed as well heading…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook No surprises in the bitcoin markets over the past few days as price moved down into the $11,500’s yesterday before finding a bottom and reversing back to the upside today, and now the technicals and price action are telling us that the bulls are…