Resurgent bitcoin

Bitcoin is up over 7% today on Bitstamp, taking price over $600. We’re still seeing support and resistance on the sloping lines I’ve been drawing for a while now. Heres a nice view of the latest chart showing last couple of weeks strong rally with 4 hour candles. I suppose many people will be wondering […]

Quick look at bitcoin

Heres how bitcoin is looking versus USD on bitstamp since the low at about $340 last month. Chart is showing 4hour candles. Can see the rally is still looking very healthy after slight pullback yesterday, so far doesn’t appear to be much impact from WillyReport, maybe many speculators suspected there was pumping going on anyway […]

The Willy Report

The Willy Report is an analysis of leaked trading information which has been released as a blog post about trading activity during the MtGox era, which I found earlier via Reddit. If you haven’t already seen it, it makes a very interesting read, I’ve reposted the link here. The Willy Report: proof of massive fraudulent […]

Another chart pattern

Bitcoin still looking to have turned the corner after that strong rally. Although the market is taking a little breather now, the way it is pushing up through my horizontal dotted resistance is quite nice. Heres a bitstamp chart showing latest action with 4hour candles. Note the way the rally ended when it reached one […]

Target met

I’ll try not to be too smug about it but that rise up to about $500 is just about exactly what I predicted based partially on the inverse head and shoulders pattern I spotted here Inverse Head and Shoulders. Nice to see it work out on this occasion. Heres bitstamp with 2hour candles; Looks to […]

Long term trend holding

Yesterday I was watching that closing wedge on the Bitstamp log chart with a kind of bemusement as it got more and more confined by upper and lower lines of the wedge until it could barely be contained on either side. It was kind of like D-day when the two lines crossed, although at one […]

Closing wedge

Heres a look at the bitstamp on log chart again. The chart speaks for itself really, bitcoin is trapped right in the point of the wedge pattern, it has to resolve one way or another soon. Which way up or down? If my inverse head and shoulders pattern plays out (last post) it will be […]

Inverted Head and Shoulders

Heres a formation that looks like might be on the cards and nearing completion; Inverse Head and shoulders which is bullish and might indicate trend reversal. Target around $500 ish. Chart shows Bitstamp data as usual, with 2 hour candles. Regardless of that pattern and wether it plays out, in my opinion there is mounting […]

Bullish upturn continues

Heres another bitcoin chart showing recent price action on Bitstamp. I’m continuing to look on chart with 2hour candles which is a view interesting me at the moment. As you can see looks like we are finding support right where I hoped on the lower green line, which gives me more confidence that that green […]