Crypto Research
27 Results
A PULLBACK FOR BTC ALONG WITH MOST RISK ASSETS BUT A FEW KEY ALTS SHOWING EARLY SIGNS OF BOTTOMING AT SUPPORT - Cryptocurrencies, faded over the past week, with BTC dropping from just under 10K resistance last Tuesday in conjunction with most other risk assets, with short-term lows developing this past Monday. Overall BTC remains in a broad trading range above key support between 8.6-9.1K BUT it is the technical...
SEEING IS BELIEVING FOR MANY TA’S BUT TRADERS AND INVESTORS DON’T ALWAYS HAVE THAT LUXURY - Many technical analysts understandably prefer to see technical patterns resolve in one direction or another before committing new capital to a developing trend. We have said it before, pre-judging technical patterns before they resolve can be detrimental to one’s financial health. That’s all fine for starting new positions but most investors are already committed...
BTC’S TEMPORARY BREAK OUT LEAVES IT BACK IN THE BOX BUT ALTS CONTINUE TO TREND HIGHER. BTC, once again, whipsawed traders over the past few days temporarily gapping up above the widely watched 10K resistance level only to gap back down into its May trading range to test 9.1K support and settle back to where it all started near 9.5K. It all reminds us of the title to the Pharcyde’s...
Over the past week BTC broke below near-term support levels at its 15-dma and then a key level 9.1K coinciding with its March-May uptrend, only to bounce back over the past three days. In fact, while the very short-term volatility violated near-term support raising trading concerns BTC was potentially into a corrective phase, the rebound this week was from a secondary uptrend line joining the late March and April lows. ...
Similar to other risk assets, such as the S&P 500, BTC has traded in a relatively narrow range under resistance through May. A breakout in either direction from the recent trading range is likely to signal BTC’s next tactical directional shift. 10k followed by 10.5k remain the levels traders are fixated on but 9.1K also remains an equally important trading level to be aware of. Our bias is for an...
BULLISH NEWS BUT A VOLATILE TECHNICAL RESPONSE - Despite the past week’s quick sell-off from resistance that saw most crypto currencies break below rising 15-dma’s, most coins remain in uptrends supporting long side exposure. As always, we find it noteworthy that despite seemingly bullish expectations regarding BTC’s halving, Paul Tudor Jones’ endorsement and news JP Morgan is increasingly engaging with crypto, BTC and ETH ping ponged between key technical resistance...
A PAUSE FOR MOST ALTS BUT BTC REMAINS RESILIENT, CHALLENGING 9.5K HEADING INTO ITS HALVING - Most cryptocurrencies paused or pulled back over the past week after rallying into resistance bands with short-term momentum peaking at overbought levels. BTC also paused but has been impressively more resilient notably over the past two days, challenging resistance between 9-9.5K as the widely anticipated May 12 halving draws near. SO WHAT TO DO?...
BTC RECAPTURES A KEY TECHNICAL THRESHOLD ACCELERATING ABOVE ITS WIDELY MONITORED 200-DMA. BTC surged above a key resistance level at its 200-dma toward its next resistance near 9K coinciding with a 76.4% retracement of the Q1 decline and the early March highs at 9.2K. _GIVEN DAILY RSI AND THE 4-HOUR RSI HAVE NOW MOVED INTO OVERBOUGHT TERRITORY, OUR EXPECTATION IS FOR A SHORT-TERM PAUSE PULLBACK TO DEVELOP WITH FIRST SUPPORT...
CRYPTOCURRENCIES HAVE CONSOLIDATED THROUGH APRIL SIMILAR TO OTHER RISK ASSETS -Major cryptocurrencies stalled over the past two weeks following rebounds into resistance levels near declining 50-dma’s. This behavior is similar to what developed in many risk assets, notably equities where cyclical indices, such as the Russell 2000, have stalled in sideways trading ranges heading into last week’s option expiration. HOWEVER, SIGNS OF IMPROVEMENT FOR BTC TAKING HOLD - BTC, for...
WHAT’S CHANGING TECHNICALLY FOR CRYPTO CURRENCIES? After rebounding from deeply oversold levels in March, most cryptocurrencies are stalling under technical resistance coinciding with declining 50- and 200-dma’s. Given the long-term uptrend for BTC remains intact, our expectation is for the current pullback to be relatively shallow over the coming 1-2 weeks. BTC STALLING UNDER DECLINING 50- AND 200-DMA’S BTC is stalling short-term under heavy technical resistance between 7-8K which coincides...
BTC – A VOLATILE WEEK BUT HOLDING KEY TREND SUPPORT AT THE 15-DMA WITH POTENTIAL TO CHALLENGE 7K Despite all the macro volatility spillover across markets, BTC’s short-term technical setup is improving with the potential to challenge and break-out above formidable trading resistance near 7K. After a roller coast ride over the past two weeks that included stalling under 7K resistance on 3/20 through 3/26, hitting an air pocket and...
HEAVY TECHNICAL DAMAGE BUT A FEW SILVER LININGS Last week’s collapse in cryptocurrencies has left most chart patterns badly compromised with BTC breaking below its 2015-2020 uptrend. _HOWEVER, DESPITE THE TECHNICAL DAMAGE THAT IS NOW IN PLACE THERE ARE SOME SILVER LININGS DEVELOPING NOTABLY THAT BTC HAS HELD AND RALLIED FROM ITS 200-WEEK SMA, ETH HAS RECAPTURED ITS Q4 2019 LOWS AND ETH VS BTC HAS HELD KEY SUPPORT AT...