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 (BTC) Price Uptrend Intact: Bulls Sighting Fresh Increase
    by Aayush Jindal on June 19, 2019 at 6:00 am

    Bitcoin price started a downside correction below the $9,200 support against the US Dollar. The price tested the $8,950 support area and it is currently moving higher towards $9,200. There was a break above a declining channel with resistance at $9,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair... The post Bitcoin (BTC) Price Uptrend Intact: Bulls Sighting Fresh Increase appeared first on NewsBTC. […]

  • Crypto Market Testing Crucial Support: Bitcoin Cash, Litecoin, EOS, XLM...
    by Aayush Jindal on June 19, 2019 at 5:00 am

    The total crypto market cap corrected lower recently and tested the key $265.0B support area. Bitcoin price corrected lower sharply and spiked towards the $9,000 support area. Litecoin (LTC) price is stable above the $130 and $132 support levels. Bitcoin cash price is currently down more than 3% and it is trading below $420. EOS... The post Crypto Market Testing Crucial Support: Bitcoin Cash, Litecoin, EOS, XLM Analysis appeared first on NewsBTC. […]

  • Ripple (XRP) Price Approaching Key Supports: Can Bulls Regain Strength?
    by Aayush Jindal on June 19, 2019 at 4:08 am

    Ripple price started a downside correction after rallying towards $0.4630 against the US dollar. The price declined sharply and broke the $0.4400 and $0.4300 support levels. This week’s followed bullish trend line was breached with support near $0.4365 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently holding... The post Ripple (XRP) Price Approaching Key Supports: Can Bulls Regain Strength? appeared first on NewsBTC. […]

  • Ethereum (ETH) Price In Corrective Decrease: $260 Support Holds Key
    by Aayush Jindal on June 19, 2019 at 3:08 am

    ETH price started a downside correction after it failed to clear $275 against the US Dollar. The price declined below the $265 support level, but it is holding the $260 and $262 supports. Recently, there was a break above a declining channel with resistance at $264 on the hourly chart of ETH/USD (data feed via... The post Ethereum (ETH) Price In Corrective Decrease: $260 Support Holds Key appeared first on NewsBTC. […]

  • Tom Lee Says This Investment Trust Could Soar Alongside Bitcoin
    by Gerelyn Terzo on June 18, 2019 at 5:30 pm

    By CCN Markets: With all of the crypto attention currently centered on Facebook’s Libra cryptocurrency, bitcoin could be gearing up for its best run to date. Fundstrat Co-Founder Thomas Lee believes that it is headed much higher in the near future, predicting that a fear-of-missing-out, or FOMO, will catapult the bitcoin price to $40,000 sooner than later. According to a Bloomberg report, Fundstrat’s latest report suggests that a higher bitcoin price is being supported by […]

  • Bitcoin Trend Overwhelmingly Bullish: Dips In BTC Remain Supported
    by Aayush Jindal on June 18, 2019 at 6:00 am

    Bitcoin price traded to yet another 2019 high near $9,470 and corrected lower against the US Dollar. The price is trading nicely above the $9,200, $9,150 and $9,000 support levels. There is a key breakout pattern forming with support near $9,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair... The post Bitcoin Trend Overwhelmingly Bullish: Dips In BTC Remain Supported appeared first on NewsBTC. […]

  • Crypto Market Primed For More Gains: Bitcoin Cash, BNB, Litecoin, TRX...
    by Aayush Jindal on June 18, 2019 at 5:00 am

    The total crypto market cap climbed further higher above the $280.0B resistance area. Binance coin (BNB) price is up more than 5% and it is approaching the $35.00 resistance area. Litecoin (LTC) price is consolidating above the $130.00 support area. Bitcoin cash price is holding the $420 support and it could climb higher in the... The post Crypto Market Primed For More Gains: Bitcoin Cash, BNB, Litecoin, TRX Analysis appeared first on NewsBTC. […]

  • Ripple (XRP) Price Hits First Target: Another Run Very Likely
    by Aayush Jindal on June 18, 2019 at 4:08 am

    Ripple price climbed higher sharply and broke the key $0.4500 resistance area against the US dollar. The price traded to a new monthly high at $0.4631 and recently started a downside correction. Yesterday’s highlighted major bullish trend line is intact with support near $0.4360 on the hourly chart of the XRP/USD pair (data source from... The post Ripple (XRP) Price Hits First Target: Another Run Very Likely appeared first on NewsBTC. […]

  • Ethereum (ETH) Price Holding Support: Buying Dips Favored
    by Aayush Jindal on June 18, 2019 at 3:08 am

    ETH price is struggling to gain momentum above $275 and $280 against the US Dollar. The price is currently correcting lower towards the $268 and $265 support levels. Yesterday’s highlighted key bullish trend line is intact with support near $267 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to... The post Ethereum (ETH) Price Holding Support: Buying Dips Favored appeared first on NewsBTC. […]

  • Bitcoin Leaves Other Asset Classes in Dust as Market Stars Align
    by Gerelyn Terzo on June 17, 2019 at 8:40 pm

    By CCN Markets: Investors who are not generating returns in 2019 are clearly looking in the wrong place. Considering bitcoin claimed a fresh 2019 high to nearly $9,400 over the weekend, other asset classes have a hard act to follow. Gains across the stock market and commodities including oil and precious metals such as gold pale in comparison to bitcoin’s, and investors must be kicking themselves for not recognizing the opportunity in crypto. There’s no shortage of explanations as […]

  • Bitcoin Price ‘Could Fall to $6,500’ Before Next Bullish Spike: eToro...
    by Harsh Chauhan on June 17, 2019 at 5:00 pm

    By CCN Markets: The price of bitcoin has broken through the $9,000 mark and seems well on its way to $10,000, but brokerage firm eToro believes that there’s a pullback in the cards before the cryptocurrency enjoys its next bullish run. Simon Peters, an analyst at the multi-asset investment platform eToro, has warned investors to be prepared for a price crash before the next bullish run in bitcoin prices. In an email to CCN, Peters wrote: “Breaking $9,000 is another significant price […]

  • JP Morgan Analyst Admits Institutions are Behind the Bitcoin Bull Run
    by Davit Babayan on June 17, 2019 at 3:21 pm

    An analyst associated with the US multinational bank JP Morgan Chase has admitted that institutional investors are behind the ongoing bitcoin price boom. The post JP Morgan Analyst Admits Institutions are Behind the Bitcoin Bull Run appeared first on NewsBTC. […]

  • iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2%
    by Dalmas Ngetich on June 17, 2019 at 7:00 am

    Leo adds 8.2 percent The public open to tracking iFinex repurchase of Leo coins Behind a surging coin, iFinex plans to open up to the public its buyback program. In an initiative called the UNUS SED LEO Transparency Initiative, the public will track how the parent company would purchase Leo from their gross revenue. Meanwhile,... The post iFinex Buyback Could Spur Another Wave of Leo Demand, Price Up 8.2% appeared first on NewsBTC. […]

  • Facebook, Binance, Chinese Yuan Combine to Boost Bitcoin above $9000
    by Yashu Gola on June 16, 2019 at 3:45 pm

    By CCN Markets: The price of bitcoin (BTC) on Sunday surged above $9,300 to establish a fresh year-to-date high. The bitcoin-to-dollar exchange rate touched $9,388 at 0600 UTC — its highest since May 30 — on San Francisco-based cryptocurrency exchange Coinbase. The move brought the pair’s net rebound gains close to 200-percent, including a 154-percent since 2019 open alone. It further prompted bitcoin’s market capitalization to jump above $165 billion. At its […]

  • Jack Dorsey Expects Crypto, Blockchain to Be a ‘Secular Trend’ in...
    by Gerelyn Terzo on June 14, 2019 at 5:00 pm

    By CCN Markets: Jack Dorsey is all in on bitcoin. The tech entrepreneur, who is at the helm of both Twitter and Square, recognizes that cryptocurrency and the blockchain will become a “secular trend” in financial services going forward, according to an interview he did with Quartz in London. He doubled-down on his belief that there will be a “global currency for the internet,” and bitcoin remains the “strongest candidate” for the job. Dorsey likens the […]

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.