A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
U.S. Stocks Dull Bitcoin Appeal on Optimistic Jobs Report
by Yashu Gola on June 5, 2020 at 1:12 pm
Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday. Bitcoin futures slid 1.82 percent to $9,715. The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET. Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as...
Bitcoin Targets $20K against Fed and ECB’s Savage QE Policies
by Yashu Gola on June 5, 2020 at 12:00 pm
Bitcoin bulls eye a $20,000 yearly close against the Federal Reserve and the European Central Bank’s expansionary policies. Dan Morehead, the CEO of Pantera Capital, noted that the bitcoin market is already outperforming other assets since the Fed launched an unlimited bond-buying program in March 2020. With ECB following a similar quantitative easing policy, it...
No, Bitcoin Forming a Weekly TD Sequential “9” Doesn’t Kill the Bull...
by Nick Chong on June 5, 2020 at 10:00 am
If you have been trading Bitcoin over the past week, you likely know the emphasis analysts have put on the formation of a TD Sequential “9” on BTC’s weekly chart. One trader suggested just days ago that it was one of four reasons why there’s a “high chance” Bitcoin falls this week. The three other...
Ethereum Trading Near Crucial Juncture And 100 SMA Holds The Key
by Aayush Jindal on June 5, 2020 at 8:48 am
Ethereum is trading in a tight range above the $240 support against the US Dollar. ETH price likely to accelerate higher above the $245 and $250 resistance levels in the near term. Ethereum is trading above a major support and pivot area at $240. The price is likely to surge if it clears the $245...
These Factors Show Bitcoin Could Soon Explode Above $10,000
by Aayush Jindal on June 5, 2020 at 3:58 am
Bitcoin is recovering and showing positive signs above the $9,700 level against the US Dollar. BTC price is likely to accelerate higher above $10,000 as long as it is above the 100 hourly SMA. Bitcoin is correcting higher and it recently cleared the $9,740 resistance zone. The price even broke the $9,800 level and it...
Bitcoin Rallied 300% Last Time This Signal Appeared. It Just Happened Again
by Nick Chong on June 5, 2020 at 12:00 am
After rallying as high as $10,400 earlier this week, Bitcoin plunged by nearly $2,000 in 24 hours on BitMEX. It was a move that liquidated over one hundred million worth of derivatives positions. Analysts were quick to respond to the move with expectations of downside in the crypto market. One trader shared that BTC’s price...
Bitcoin, Stocks Fall as Dollar Rebounds ahead of U.S. Trade Data
by Yashu Gola on June 4, 2020 at 11:01 am
Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge. The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday. The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked...
These Two Key Factors Show “Fireworks” in the Bitcoin Market Are...
by Nick Chong on June 4, 2020 at 10:00 am
Bitcoin just saw a harsh $1,500 rejection at one of the most important resistance levels in the asset’s history. Though analysts remain long-term bullish, with one going as far as to say that market “fireworks” are in this market’s sights. Related Reading: Ethereum DeFi Nears $1 Billion Milestone Again, and That’s Big for the ETH Bull...
Ethereum Just Reversed And Likely Gearing For Another Lift-Off To $255
by Aayush Jindal on June 4, 2020 at 8:58 am
Ethereum is up close to 4% and it surpassed the $240 resistance zone against the US Dollar. ETH price is likely to continue higher towards the $250 and $255 resistance levels. Ethereum reversed losses and climbed back from the $230 support zone. The price is now trading comfortably above the $240 pivot level, with a...
Litecoin Signaling Fresh Increase To $50: Here’s How It Could Refuel...
by Aayush Jindal on June 4, 2020 at 5:58 am
Litecoin retreated from the $50.00 resistance and found support near $45.00 against the US Dollar. The price is currently rising and it could surge if it clears the $48.00 resistance. There is a major bullish trend line forming with support near $46.50 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). Bitcoin...
A Friendly Farewell From BullBear Analytics
on June 1, 2020 at 7:37 pm
Over the past 10 years, BullBear Analytics has developed from a free weekly bitcointalk forum posting into a place to share market ideas 24/7 free from noise...
Bitcoin Price Update for October 2, 2019
on December 2, 2019 at 4:58 pm
Below is a recap we did on Bitcoin's performance throughout September 2019. It had its ups and downs and for more details - read all about it in our article!
Altcoin Market Update for October 2, 2019
on December 2, 2019 at 4:57 pm
Our first altcoin market update from October 2019 - here we do a recap of the altcoin performance from our watchlist and discuss where they might head in the near future.
Bitcoin Price Update for September 25, 2019
on November 27, 2019 at 7:47 pm
This is our latest Bitcoin price update from 25tth September 2019 where we take a look at how Bitcoin has been performing in the markets. We also provide our commentary on its state so read more about it here!
Altcoin Market Update for September 25, 2019
on November 27, 2019 at 7:46 pm
In our Altcoin market update, we take a look at what has influenced the altcoins on our watchlist the most in terms of price and market movement, and we analyze where Ether, Monero, Ripple, and others stand at the moment. Take a look!
What is Technical Analysis?
Technical analysis (TA) is a methodology for forecasting future price movements by studying past market data for price and volume, and seeking patterns within that data.
A technical analyst will look for continuing patterns, or trends, which indicate the general direction of price movement. They will also look for repeating patterns, which are used to gauge whether a trend is likely to continue or reverse, and to indicate the point at which a reversal may take place. In addition to visually recognizable patterns, various mathematical models are used to indicate trend reversals or confirm continuing trends. These mathematical ‘indicators’ are often visually represented on charts using an ‘overlay’. Indicators can be used to select entry points for longer term positions determined via fundamental analysis, or for day trading strategies such as swing trading.
Many of these visual and mathematical patterns, which tend to repeat over and over again in various different financial markets, have been identified over the course of centuries. Analysts will seek to identify these patterns forming within current market data in order to find indicators for forecasting, and multiple indicators will usually be combined together to provide buy or sell signals of varying strengths.
A typical chart has been embedded at the top of this page which includes two common indicators – Bollinger bands and moving average lines – and one more interesting and unusual indicator: the phases of the moon. You can modify the chart to look for other indicators by clicking the button which looks like a bar chart with a zig-zag arrow above it.
Does it Work for Bitcoin & Altcoins?
The patterns studied by TA are generally caused by the actions of market participants themselves, rather than any changes to the underlying value of what is being traded (although of course the underlying value changes are ‘priced in’ by the market participants). They represent common psychological traits, the actions of people making decisions based on knowledge which comes into their possession, and so on. As such, these techniques can be applied to most financial markets.
It is generally thought, however, that these techniques do tend to break down in smaller markets with low volume and liquidity.
So it is probably safe to say that if technical analysis works at all, then it should work for Bitcoin. But is also true to say that it will be unreliable for smaller altcoin markets. This is not a hard rule, but a general guide. The most popular altcoins, or coins going through periods of high volume, may prove to be valid exceptions. It is down to the individual trader to make a judgement as to what extent these tools can be trusted for any specific market.
Top Resources for Bitcoin Technical Analysis by Experts
If you are new to this topic then perhaps the best thing that you can do is follow the analysis provided by established experts, both for making more educated investment decisions and for learning how to become a better analyst yourself. You can view some great articles published on news websites in the left hand column of this page, but for more detailed and timely information here are some of the best sources for professional analysts’ opinions on the Bitcoin price:
- XBT Social: For a monthly membership fee this site give you access to a daily analysis by professional traders, email alerts for sudden price movements, exclusive news stories, and access to an ‘exclusive community’ of other traders.
- BullBearAnalytics: A team of professional analysts provide paying members of this site with complete, actionable trade signals for both BTC and altcoins, a daily market update, and a more in-depth weekly report.
- BraveNewCoin Reports: This is a well-known information site which publishes regular reports covering sentiment, fundamental and technical analysis extended across a wide range of altcoin markets as well as BTC.
- TradingView: In addition to providing a range of charting tools you may find useful, TradingView allows its users to share their analysis with others. This is the only source in this section where you an view content for free, but please beware that not all of the authors are professional traders.
Analyst Opinion Summary
The widget you can see below displays the latest opinion of analysts on Investing.com with simple signals of ‘Strong Buy’, ‘Buy’, ‘Neutral’, ‘Sell’ and ‘Strong Sell’. It is automatically set to a 1 minute time Frame which probably won’t be very useful for most traders, but you can change that to display a longer period without leaving the page:
Bitcoin Technical Analysis Software: Charts and Tools
A handy charting tool created by TradingView is provided at the top of this page, and I wholeheartedly recommend you have a play with it if you haven’t already. But of course there are also many other useful charts and tools that you may like to use. Here are some of the best ones:
- Cryptowatch – This site allows you to view price data chart from a range of different exchanges for BTC/USD, BTC/EUR and BTC/CNY. They offer a range of different chart types including Heikin-Ashi, bar, line, mountain or candlestick, and access to a wide range of customizable indicators and overlays. If you create an account you can also connect it to the Bitfinex exchange API and use it as a complete trading platform.
- BTC-E – One of the most popular tools on the traditional financial markets is MetaTrader 4. This exchange allows you to use MT4 for Bitcoin trading.
- Bitcoin Charts – This site has a clean design and is easy to use, and offers a wide range of charts including candlestick, OHLC, closing, median, or typical price, and weighted close. You can view data from pretty much every BTC/fiat exchange with up to four indicators at a time.
- Quandl – If you want to go beyond price and volume data to look at things like the transaction and mining data then this is a great source of information with lots of different charts and the option to export data via API or download as CSV files.
- TradingView – You can see and use the charting tool from TradingView at the top of this page.
- BitcoinChain – An interesting combination of TA charting tools and block explorer for general network stats and transactions, which also pulls order books and latest trades from several top exchanges.
Best Free Sites to Start Learning Technical Analysis
There are loads of great resources available on the internet that you can access for free, to start your journey and learn all about TA. Here is a small selection of the best ones:
- Investopedia: The Basic of Technical Analysis – If you are a complete beginner then this is a great place to start. It will introduce you to the basic principles and terminology that you need to know, as well as some of the most popular chart types and indicators.
- Chart School – This free resource provided by the StockCharts.com website includes a huge amount of information on every aspect of TA.
- InvestTools – There are some really excellent paid courses here, but there are also several free classes which are well worth it for beginners.
- ProBitcoinTrading – Although not specifically related to just TA, this site offers some excellent general trading tips, including a free ebook as well as premium ebooks and consultancy services.