Market Overview: Bitcoin Futures Bitcoin futures ii after bear breakout and still trading around a major price level, which is the 2017 close. Traders consider that the current area is a sweet spot for trading. Next week is the monthly bar close; so far, November is a bear bar with a prominent tail on both […]
Bitcoin Trading around Major Price Level
Market Overview: Bitcoin Futures Bitcoin futures are trading around major price level, which is the 2017 close. After 5 years of trading at the Chicago Mercantile Exchange, the Bitcoin futures test a price that acted as the hardest resistance before the major bull trend that occurred after COVID-19 crash. Bitcoin futures The Weekly chart of […]
Bitcoin Bear Flag Breakout
Market Overview: Bitcoin Futures The Bitcoin futures lost 30% of its value during the week with a Bitcoin bear flag breakout – recording a new low for this year. Now, the price is testing the 2017 close, the most important price level of the Bitcoin Futures. Bitcoin futures The Weekly chart of Bitcoin futures The […]
Bitcoin Sideways to up over Next Few Months
Market Overview: Bitcoin Futures Bitcoin futures traders are likely going to see bitcoin sideways to up, until the end of this year. The long-term view is a Trading Range between $69355 (all-time highs) and $14470 (2017 close). Bitcoin futures The Monthly chart of Bitcoin futures The past month’s candlestick is a bull reversal bar, a […]
Bitcoin Breakout of Bear Trend Line
Market Overview: Bitcoin Futures Bitcoin futures broke up above the major bear trend line by trading sideways, which should be viewed as a significant loss of strength from bears. Bulls are not looking strong, but if bears exit their shorts, the price will go up during the rest of the year. Bitcoin futures The Weekly […]
Bitcoin Reversal from New Low
Market Overview: Bitcoin Futures Bitcoin reversal from new low this week. It remains slightly below crucial resistances after reaching new fresh lows of the major bear trend, by trading sideways to down. Bitcoin futures The Weekly chart of Bitcoin futures This week’s Bitcoin candlestick is a small bear doji, closing near its midpoint. During the […]
Bitcoin Test of Trend Line Top
Market Overview: Bitcoin Futures Bitcoin test of trend line top, touching weekly bear trend line by continuing to trade sideways for another consecutive week. Lately, the volatility has been contracting, an aspect that should be constructive looking forward into the future. However, the price remains below major resistances and while the bulls do not step […]
Bitcoin 72% Down from All-Time Highs
Market Overview: Bitcoin Futures The Bitcoin futures end the Q3 2022 (3rd quarter of 2022) 72% down from all-time highs. During Q2 2022, the Bitcoin price experienced a large sell-off, but bears did not get good follow through selling during Q3 2022: the price closed above Q2 2022 close. The price will probably test $30000 […]
Bitcoin Downside Risks
Market Overview: Bitcoin Futures Bitcoin futures short-term Bitcoin downside risks after bearish follow through during the week. Bears are controlling the market forces while the price is at an inflection point. Traders love inflection points because it gives them opportunities. If bears do not exit their shorts, the price will likely trade at $14000 within […]
Bitcoin Bull Reversal Failing
Market Overview: Bitcoin Futures The Bitcoin futures traded above last week’s high, and then it reversed down, with Bitcoin bull reversal failing. Traders are confused because the price is at support and resistance simultaneously. Bears targets are at an 80% drawdown from the all-time highs. Bitcoin futures The Weekly chart of Bitcoin futures This week’s […]
