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?

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

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