Market Overview: Bitcoin Futures Bitcoin futures hold above 200-week moving average while the price is testing the May 9 low. During this week, the ioi breakout mode triggered to the upside, but the final result was not heavily bullish because the current weekly close is below the ioi high. Bitcoin futures The Weekly chart of […]
Bitcoin ioi breakout mode
Market Overview: Bitcoin Futures The Bitcoin futures traded during the entire week inside the price range of the prior week, giving a Bitcoin ioi breakout mode. After the 28% recovery in July, Traders wonder if this is just a Bear Rally or if the price is trying to consolidate a bottom. Bitcoin futures The Weekly […]
Bitcoin path of least resistance
Market Overview: Bitcoin Futures The Bitcoin futures gained 28% in July because Bears took some profits right at Major Support, the path of least resistance. During the prior Monthly Bitcoin Report, we mentioned that the most important level for the rest of the year would probably be June’s Close: After July’s follow-through month, Traders think […]
Bitcoin pullback after stalled at major support
Market Overview: Bitcoin Futures Bitcoin pullback finally became a reality after the price stalled at major support. Traders expect the price to reach $28800 during the upcoming months. Bitcoin futures The Weekly chart of Bitcoin futures Traders still think that the Bear Trend on the Weekly chart is contained within a Trading Range; therefore, the […]
Bitcoin micro double bottom at major support
Market Overview: Bitcoin Futures Bitcoin micro double bottom and attempt to end the bear trend, as they are trying to consolidate a short-term bottom; still, it is too early to believe that the end of the Major Drawdown is near. Bitcoin futures The Weekly chart of Bitcoin futures On prior reports, we have highlighted the […]
Bitcoin failing bear breakout
Market Overview: Bitcoin Futures Bitcoin failing bear breakout and stalling at Major Support. Short-term Bulls regained control after 3 months watching a Bearish price concert. Traders expect the price to pullback to $30000 before the end of this current Quarter. Bitcoin futures The Weekly chart of Bitcoin futures Context This week we had a bull […]
Bitcoin major drawdown structure
Market Overview: Bitcoin Futures The Bitcoin futures are down 60% since the year has begun. Down 73% from the highs, traders are wondering if the price will continue to trend down until $11800, which represents a Bitcoin major drawdown (85%) from the highs. Traders look at this 85% number because it is the size of […]
Bitcoin second bear leg in trading range
Market Overview: Bitcoin Futures Bitcoin second bear leg in trading range developing within a bear channel, down 70% from the highs and currently testing a major support: the previous Breakout Point, which happens to be the prior all-time high. This week we have seen some bears buying below the biggest bear bar late in a […]
Bitcoin sell vacuum test of major support
Market Overview: Bitcoin Futures Bitcoin sell vacuum test within a Bear Channel, down 70% from all-time highs and currently testing a major support: the previous Breakout Point, which happens to be the previous all-time high. Last week, a Low 2 sell signal bar triggered; so far, this week responded with a Lower Low. However, there […]