Still ranging at the old ATH. I wonder when the accumulation will stop and the direction will be shown
We may still be consolidating at the moment but this position is building and testing it’s resilience. Hash rates are high, we are just waiting for it to spring to life
Bitcoin has been playing with traders’ patience. Traders may not get carried away but observe its price action closely. It has been choppy, which makes traders lose their most of the trades.
Couple of setups from last week have played out, still holding others. head over for this week’s video. Appreciate anyone that likes and subscribes. Hope you have all a good trading week
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Bitcoin made a very strong bullish move in the H4 chart from a key level of support. If the price stays above 20K level to end this trading week. Bitcoin may head towards the North further with good bullish momentum.
I still don’t think we are officially in a bull run yet. I’d wait to see what happens around the daily OB in the region of 21.8-22.8k. If we break that then we could potentially be bullish!
Would tend to agree.
Let’s see if it was just another weekend pump.
The Bull had a good week. However, the daily chart shows that Bitcoin may end up having double rejection at the level of 21K. The buyers are to wait for the price to make a bullish breakout at that level to go long next week in Bitcoin.
I’ve been selling over the weekend, looking for it to dip back to 19.9 today but its not happened yet
Watch out with the shorts right now mate.
Good morning all, hope you all had a good weekend. Before this week kicks off I was just observing the crypto charts and also doing a little reading. Much to my delight reading that ETH has been leading the way against BTC for the last 4 years. Here is a snippet from the article :
Ethereum outperforms Bitcoin 2X in Compound Annual Growth Rate over past 4 years. Data on the four-year Compound Annual Growth Rate for Ethereum and Bitcoin from the on-chain analytics platform Glassnode shows that ETH has outperformed Bitcoin since October 2019. The data is available via the two charts below, which depict the CAGR for both Ethereum and Bitcoin over the past four years.
The period was selected to capture both the classic Bitcoin halving cycle while also accounting for the typical bull/bear cycle, which tends to be of a similar duration. Bitcoin recorded a CAGR of 34.1%, but Ethereum returned almost double at 66.3%. CAGR data for Ethereum started in July 2019, and since then, the correlation between Ethereum and Bitcoin has been relatively low. Bitcoin’s peak CAGR was back in 2014, while Ethereum peaked on October 20, 2019.
It is nice to see a little bullish price action, ETH is already trading above the 100 moving average and I’m glad I invested in ETH for the HODL as I have seen first hand how it has been out performing BTC . But is this the start of the bull run? Who knows time will tell. Have a good trading week all, BTC long currently in profit and holding. GLIYF
The price is having a bearish correction. The level of 21K has been the level of resistance here. The level of 20K may hold the price as a level of support. Let us wait how the price reacts at 20K to find its next direction in the H4 chart.
Holding above $20k is vital. We’re getting back down close to it again now.
Good morning all, another little update today on the Bitcoin long, along with the comparison of ETH. As we can see ETH is leading the way trading nicely above the 100 moving average. BTC did peak above a few days ago but currently still trading underneath. But it is still giving us bullish structure, even though small. Will it last and continue? Only time will tell, I have drawn out a little map of possible HH’s and HL’s so lets see how price plays out this week. Still in profit and still holding, have a good trading week all GLIYF
Bitcoin made a good bullish move and found its resistance around 21.5K. The price has been making a bearish correction. The buyers may keep their eyes at 20.6K to go long if it produces a bullish reversal pattern in the H4 chart.
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The law of effort is definitely on the side of the Bulls. Its going to be interesting to see how it goes coming to the end of the year
Hiya,
Kindly is the BTC/USD in a downtrend to 12K or lower please?
Tnx and best of luck
Bitcoin made a bearish breakout at 18K on the daily chart. The price may make a bullish correction. The sellers may keep their eyes to go short In Bitcoin.
Wasn’t expecting that crash but the news coming out is so negative. Have remained on sells down to 18.5. missed a whole chunk of the candle
Bitcoin had a bullish day yesterday. However, H4 chart suggests that the price may make another bearish move here upon finding its resistance.
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