Posts by Mr. W

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook As we suspected might be the case yesterday, the bitcoin markets indeed needed to pull back to establish new near-term support before another leg higher materializes, which is what has happened over the past several hours. While we think this action is generally bullish…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook It only took a few days after our update on Saturday for the bitcoin bulls to take out the $12,100 level on a convincing move with volume behind it that appears to be a continuation of the medium-term uptrend that likely ends up in…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Bitcoin has had a good weekend so far and is knocking on the door of regional resistance at the $12k level on favorable price action and supportive technicals, so there is a good chance that the $12,100 regional top is taken out in the…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook BTC/USD is still treading water around the $11,500 level today as expected thus we think similar conditions are likely to persist into the upcoming weekend, and the technicals are confirming this outlook as we will discuss below. Having said that, we do like the…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook Things were looking good for bitcoin coming into today as price had indeed consolidated all weekend as expected before another test of the $12k level yesterday, although said move was rejected back to the downside today which is not great for the bulls over…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook While BTC/USD indeed continued to push to the upside yesterday as expected, the bulls were unable to break into the $12,000’s as resistance remains too strong in that area. This led to a sharp selloff all the way down to the $11,219 level earlier…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook The bitcoin markets are looking very strong right now both in terms of price action and as far as the technicals so despite price moving up into both a shorter-term and a medium-term supply area we think the path of least resistance remains to…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook What had the potential to be a rather bearish situation yesterday with the Head & Shoulders pattern that we discussed, the bulls were able to defend the $11,000 level with conviction and since then price has moved well above near-term resistance at $11,500 which…

Crypto Market Commentary & Outlook Bitcoin (BTC) Technical Analysis & Outlook There really haven’t been any surprises in the BTC/USD markets over the past several days despite turning the calendar to August, which overall is a good sign for the bulls as the consolidation that we spoke about last week remains healthy and only correction…