bitcoin

Bitcoin: Support here or lower?

Support #1 for Bitcoin has been hit, but #2 is well lower My preferred no-brainer target – per NFTRH’s Currencies segment – has been 12,500 as we’ve been noting for most of 2022. But Bitcoin (BTCUSD) did touch the December 2017 high, which can also be considered viable support. That is a lot of damage done to the Bitcoin promoters and especially their herds. I … Continue reading Bitcoin: Support here or lower?

Gold vs. Bitcoin

The monetary metal has changed trend vs. monetary digits The future of money will have to wait before the new digital munny is ready to take over safe haven ‘liquidity’ status from the old metallic monetary relic. Where the former has the laser-eyed likes of know-nothings Tom Brady and Paris Hilton among its promoters, gold only has history; long, boring, staid, tepid history (oh yeah, … Continue reading Gold vs. Bitcoin

Currencies (incl. Bitcoin) vs. USD

Global currencies and Bitcoin vs. USD Reference a previous post on ‘commodity currencies‘ From NFTRH 705‘s Currencies segment… Everybody in this sad picture is as they were last week. The reserve currency is sucking up all that liquidity fleeing the risk ‘on’, inflated cyclical asset world and the other ‘non-reserve’ currencies are being exposed as the fundamentally valueless instruments they are. Of course USD is … Continue reading Currencies (incl. Bitcoin) vs. USD

Bitcoin: Acting like the speculation it is

As USD and Gold rise, Bitcoin acts like the speculation that it is The US dollar is roofing… Gold is also getting the global liquidity bid. And then there is BTCUSD, acting like a speculation along with all the other speculations the world over. Where’s Tom Brady and what’s her name, the hotel heiress come crypto big mouth when you need them? For “best of … Continue reading Bitcoin: Acting like the speculation it is

So MSFM, how’s that Bitcoin Golden Cross working out? w/ Bonus chart of HUI

Mainstream financial media bullhorned a golden cross in Bitcoin just before it dropped (of course they did) On September 16th the MSFM touted a Golden Cross for Bitcoin bulls to suck on and I, considering it almost my duty, made fun of them for it. Same shit, different day (and market). It never ends. Oh, and in order to read all about it, you’d have … Continue reading So MSFM, how’s that Bitcoin Golden Cross working out? w/ Bonus chart of HUI

Hard test for Bitcoin

BTC/USD is making a fairly dramatic test of the 50 and 200 day moving averages Thus far the test sees the Bitcoin price intact, technically. Just avert eyes from daily RSI and MACD (and instead train them on a weekly chart for a somewhat more pleasant view). For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an … Continue reading Hard test for Bitcoin

Bitcoin eases back toward the neckline, Gold rising in BTC terms since April

The more times support is tested, the weaker (they say) it becomes… BTCUSD is thus far locked below the down-trending SMA 50 and the neckline of the first bearish pattern we tracked in late winter and early spring. The daily chart is gently fading and may have another test of the green neckline upcoming. Should that fail the next support is the 2017 high, with … Continue reading Bitcoin eases back toward the neckline, Gold rising in BTC terms since April

Bitcoin H&S now active, for the moment at least…

The would-be Head & Shoulders top and its “sub-zero” theoretical implication for Bitcoin are active as the price ticks below the neckline The daily chart of BTC/USD is creeping below the neckline today. If that holds (it’s probably an at least temporary fake out) then the drive to sub-zero is on (going strictly by technical measurement, if not reality). What a potential disaster this could … Continue reading Bitcoin H&S now active, for the moment at least…

A Bitcoin disaster scenario [w/ edit]

Bitcoin down another 10% today after failing to take out resistance [edit] An NFTRH subscriber emailed to ask if I’d made a mistake with the measurement. The answer is yes, but not in measuring to 20,000 as he thought might be the case. It’s worse. My response… Actually no David, I did not make that mistake. But I did make another. The doomsday scenario (and … Continue reading A Bitcoin disaster scenario [w/ edit]

Checking up on 2 stocks bought on BTC crash day

As BTC/USD crashed, taking Tommy and all the other stupid flashing eyeballs with it… …I added two items, RIOT and GBTC as a speculation during the running of the Bit Bugs (a similar phenomenon to the occasional and often glorious running of the Gold Bugs). It’s just a speculation, just a trade unless of course I change my mind. Smart Bit Bug traders will know … Continue reading Checking up on 2 stocks bought on BTC crash day

#BitCON is just doing what it should do

Bitcoin is getting blasted just as the charts have been forecasting for months We have been managing a coming top in Bitcoin (BTCUSD) for months now, ever since RSI negatively diverged and MACD put in an ugly divergence in March. Most recently, from NFTRH 655 last weekend: The Bitcoin chart has been degrading since we first noted the RSI and MACD divergences back in March. … Continue reading #BitCON is just doing what it should do

Bitcoin Hype, Into & Through the Top

Bitcoin corrects as hype grows loudest Rarely have I seen such profound and pervasive hype. Gold pumpers have absolutely nothing on Crypto pumpers. Why are they so aggressive with Bitcoin? I’d have to guess that the crusty old usual pumper suspects got the memo early on that they’d better get on and hump this bandwagon for all it’s worth because the young people interested in … Continue reading Bitcoin Hype, Into & Through the Top

Bitcoin Buy Target (attn: subscribers & anyone else interested)

A couple of subscribers pinged me about this. Yup, I left a 0 off of the projected pullback level I’d consider buying any Bitcoin related investment at. It should have been 40,000, not 4,000. A corrected copy of NFTRH 651 has been uploaded to the archive. I’d love it if you’d go get it and discard the old one. Here are the charts again, along … Continue reading Bitcoin Buy Target (attn: subscribers & anyone else interested)