In a recent post Approaching Support I showed the area I expected support as a red dashed line. Since then the price has tested that area I highlighted multiple times. Heres an updated view of the chart. Notice the blue arrows, all of which show price touching resistance. For now at least, that support has […]
Hypnotic view of market depth ebbing and flowing over time. Credit to Coinsheep for this excellent video
Since bitcoin price has fallen down through the middle of the channel, thought I’d show a view of where I think we can look for support if the price continues dropping, have marked the area with a red dotted line. I think we could expect support around about $130 region based on that trendline. If […]
Heres my latest snapshot of the upwards climbing channel we are still in. In fact at the moment we are more or less slap bang in the centre of it. I’ve left the little red mark where I was looking for support on my last post ‘Quick Update’. As it turned out the price didn’t […]
We’re still hovering around just above the bottom of the channel I’ve been monitoring. Heres the latest chart below, on which I’ve added where I’m hoping to see support marked in red. That would be at about $123 level. I guess we’ll just wait and see.
Heres a snapshot of how todays chart is looking against my up trending channel. As you can see we got a bounce off the bottom of the channel. Textbook stuff, finding support exactly where you’d have expected. This tells me the channel is still working. I have no reason to expect the price to break […]
Price took a bit of a dive earlier but looks to have rebounded nicely off the middle of the uptrending channel I’m watching. Heres my latest chart without much further comment except to say the uptrend since the low at the beginning of July still looks very much intact.
Sticking with Tradeview for another chart we can see how the fork i drew has not held, there has been another bout of buying lifting bitcoins to higher levels. Based on the slope of the pitchfork I’ve drawn in a parallel slope showing where I next expect significant resistance might be encountered. At this […]