Dean

Dean

Owner, Editor, and lead writer for Cryptorials.

Cryptocurrency writer and trader since 2014.

AMA Anytime: 21.co/cryptorials
Dean



Latest Price News and Analysis

  • Bitcoin Price Watch: BTC/USD at Risk of Upside Break above $6,540
    by Aayush Jindal on August 20, 2018 at 8:48 am

    Key Points Bitcoin price mostly traded in a range above the $6,300 support area against the US Dollar. There is a crucial breakout triangle pattern formed with resistance near $6,540 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dip a few points towards $6,380, but it is likely... The post Bitcoin Price Watch: BTC/USD at Risk of Upside Break above $6,540 appeared first on NewsBTC. […]

  • Cardano Price Analysis: ADA/USD Remains Supported Above $0.090
    by Aayush Jindal on August 20, 2018 at 8:15 am

    Key Highlights ADA price made a nice upside move from the $0.0845 low and broke $0.100 against the US Dollar (tethered). There was a break above a major bearish trend line with resistance at $0.0980 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair must is currently correcting lower and... The post Cardano Price Analysis: ADA/USD Remains Supported Above $0.090 appeared first on NewsBTC. […]

  • Ripple Price Analysis: XRP/USD Remains in Uptrend above $0.32
    by Aayush Jindal on August 20, 2018 at 7:00 am

    Key Highlights Ripple price gained momentum recently and settled above the $0.3000 and $0.3200 resistances against the US dollar. There is a new important connecting bullish trend line in place with support at $0.3310 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains well supported on the downside above... The post Ripple Price Analysis: XRP/USD Remains in Uptrend above $0.32 appeared first on NewsBTC. […]

  • Ethereum Price Analysis: ETH/USD Could Accelerate Higher
    by Aayush Jindal on August 20, 2018 at 6:00 am

    Key Highlights ETH price is recovering after trading as low as $282.73 and formed a decent support against the US Dollar. There is an ascending channel forming with current support at $296 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to rise slowly and steadily above the $300 and... The post Ethereum Price Analysis: ETH/USD Could Accelerate Higher appeared first on NewsBTC. […]

  • Ripple (XRP) Price Watch: Setting Its Sights Higher
    by Sarah Jenn on August 20, 2018 at 5:11 am

    Ripple Price Key Highlights Ripple price has completed its retest of a former resistance level, which has held as support. Price could be due to climb to the Fibonacci extension levels, but it has yet to break out of this short-term triangle. Technical indicators are showing mixed signals on the direction of price action from... The post Ripple (XRP) Price Watch: Setting Its Sights Higher appeared first on NewsBTC. […]

  • Bitcoin (BTC) Price Watch: Waiting for a Triangle Breakout
    by Sarah Jenn on August 20, 2018 at 4:38 am

    Bitcoin Price Key Highlights Bitcoin price has formed higher lows and found resistance around $6,500 to create an ascending triangle pattern on its 1-hour chart. Price is currently testing the resistance and is nearing the peak of the formation, so a breakout might be due soon. Technical indicators are giving mixed signals on which direction... The post Bitcoin (BTC) Price Watch: Waiting for a Triangle Breakout appeared first on NewsBTC. […]

  • Bitcoin Cash Price Analysis: BCH/USD Eyes Upside Break above $600
    by Aayush Jindal on August 20, 2018 at 4:08 am

    Key Points Bitcoin cash price is steadily rising and is currently placed nicely above $550 against the US Dollar. There is a major bullish trend line formed with support at $560 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair looks set to gain further above the $590 and $600... The post Bitcoin Cash Price Analysis: BCH/USD Eyes Upside Break above $600 appeared first on NewsBTC. […]

  • Bitcoin Technical Analysis: SEC Testing The Waters With Bitcoin ETNs
    by Dalmas Ngetich on August 20, 2018 at 2:00 am

    Bitcoin ETFs is not yet a yes from the main US regulator, the SEC. However, as things stand, there is Bitcoin Tracker One and though it is tradable via broker’s OTC market, investors can now invest their USDs in Bitcoin. Nevertheless, technical are not that positive and still oscillating inside a descending triangle with triggers... The post Bitcoin Technical Analysis: SEC Testing The Waters With Bitcoin ETNs appeared first on NewsBTC. […]

  • Litecoin, Stellar Lumens, Tron, IOTA, EOS Technical Analysis: At 90% From...
    by Dalmas Ngetich on August 20, 2018 at 12:02 am

    Apart from IOTA which on paper seems to be outperforming peers adding 15 percent in the last days, other coins as Tron, Litecoin and Stellar Lumens are up roughly two percent on average. Of all coins though, Stellar Lumens (XLM) is the most stable as they consolidate horizontally along our previous buy trigger line at... The post Litecoin, Stellar Lumens, Tron, IOTA, EOS Technical Analysis: At 90% From ATHs, Altcoins are almost “Free” appeared first on NewsBTC. […]

  • Will the First Bitcoin ETF Make the Crypto Market Even More Volatile?
    by Joseph Young on August 19, 2018 at 10:45 pm

    The first Bitcoin exchange-traded fund (ETF) is expected to be approved by February of 2019. But, some experts have stated that ETFs may increase the volatility of the market. How the ETF Will Impact the Market Over the past few months, analysts have been divided on the effect of the ruling of the US Securities The post Will the First Bitcoin ETF Make the Crypto Market Even More Volatile? appeared first on CCN […]

  • Valuation of Crypto Market Slightly Declines But Bitcoin Price Shows...
    by Joseph Young on August 19, 2018 at 8:31 pm

    In the past 24 hours, the valuation of the crypto market has dropped slightly by $2 billion, from $215 billion to $213 billion, as the Bitcoin price and Ethereum price demonstrated stability. Most major cryptocurrencies including Bitcoin Cash, Ripple, EOS, and Ethereum recorded decent gains in the range of 1 to 5 percent. Tokens including The post Valuation of Crypto Market Slightly Declines But Bitcoin Price Shows Stability appeared first on CCN […]

  • Bitcoin Price Weekly Analysis: BTC/USD Failed Again Near $6,600, Now What?
    by Aayush Jindal on August 19, 2018 at 7:00 am

    Key Points Bitcoin price rebounded and moved above the $6,400 level, but it failed near $6,600 against the US Dollar. There was a break below a major bullish trend line with support at $6,460 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains in a broad range between $6,000... The post Bitcoin Price Weekly Analysis: BTC/USD Failed Again Near $6,600, Now What? appeared first on NewsBTC. […]

  • Bitcoin Price Technical Analysis: BTCUSD Capped by Strong Resistance
    by Yashu Gola on August 18, 2018 at 3:37 pm

    Bitcoin price today tumbled 2 percent against the dollar, confirming a weak push by bulls in the current bearish bias. The BTC/USD continued to extend its prevailing upside momentum, breaking above 6500-fiat to establish 6620-fiat as its new intraday peak level. However, the absence of enough bullish sentiment around the peak area, also visible during The post Bitcoin Price Technical Analysis: BTCUSD Capped by Strong Resistance appeared first on CCN […]

  • $220 Billion: Crypto Market Continues Short-Term Recovery as Tokens Surge
    by Joseph Young on August 18, 2018 at 12:39 pm

    The crypto market has continued its recovery over the past 24 hours, as both major cryptocurrencies and tokens continued to surge in value. While Bitcoin remained relatively stable with a 1 percent gain, Ethereum, Ripple, Bitcoin Cash, and EOS recorded 4 percent, 9 percent, 8 percent, and 11 percent gains respectively, pushing the valuation of The post $220 Billion: Crypto Market Continues Short-Term Recovery as Tokens Surge appeared first on CCN […]

  • Bitcoin Price Intraday Analysis: BTCUSD Struggling to Puncture $6,500
    by Yashu Gola on August 17, 2018 at 5:05 pm

    The bitcoin price on Friday gained momentum towards $6,500-area, only to find itself unable to puncture through it. The BTC/USD slipped towards 6236-fiat on Bitfinex yesterday but regained much of its value during the early Asian trading session today. The upside correction extended as far as 6558-fiat, but fell short of bullish sentiment and pushed The post Bitcoin Price Intraday Analysis: BTCUSD Struggling to Puncture $6,500 appeared first on CCN […]

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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:

Technical Summary Widget Powered by Investing.com

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.