Bitcoin rallied to kick off the week, exploding above the $40K level before pulling back a bit, ending Tuesday’s session around $39K. This is bullish as Bitcoin is now trading back above the 50 Week EMA, giving Bitcoin a technical bullish divergence and a decisive end to the short-term downtrend.

(July 27, 2021 8:30PM EST)

Short-Term

Bitcoin is cautiously back in bull mode as it battles with resistance at the $40K level. Since briefly breaking above the level early Monday, it has maintained a high-$30Ks level, indicating high buying pressure and little selling. After all, nearly $1B of shorts were liquidated…

Bitcoin rallied on Wednesday, recovering back above the $30K level and nearly reaching $33K before pulling back a bit, closing the daily around $32K. This is bullish short-term as it validated support at $30K, erased the previous 2 days’ losses, and gives us a short-term higher high. A drop below $30K is definitely still possible, but it’s encouraging to see Bitcoin successfully retest support at $30K.

(July 15, 2021 8:30PM EST)

Short-Term

While yesterday it seemed like Bitcoin was on the verge of breaking down to a new lower low, Bitcoin rallied today on the back of the much-anticipated Elon Musk/Jack…

Ethereum sold off last week, breaking below the $2,000 level and closing the weekly candle around $1,800. This week hasn’t been much better as ETH continues to follow Bitcoin’s lead and drift lower. With the 2017/2018 highs in sight, a drop to the low four-figures is not out of the question.

(June 28, 2021 8:30 PM EST)

Short-Term:

ETH is still above the 50 and 200 Week EMAs, meaning the long-term uptrend is well in-tact, and dips continue to be buying opportunities. There is still downside potential, however, as ETH remains tethered to BTC which is back under $30K and looks…

Bitcoin fell a bit last week, getting rejected by the 50 Week EMA and pulling back to around $31K over the weekend. Bitcoin is off to a weak start to this week as it drifts ever-lower to just above $30K. If this doesn’t hold, look for a swift drop to the low $20Ks as there’s no significant support until $20K region.

(June 27, 2021 8:30PM EST)

Short-Term

Bitcoin is forming an ugly pattern on the chart right now as it continues to get rejected by resistance levels and looks just about ready to roll over. A break below $30K would likely…

Bitcoin fell on Thursday, giving back all of yesterday’s gains and then some, closing the daily candle below $32K. This is an ominous looking chart and Bitcoin looks ready to fall off a cliff if it breaks below $30K.

(July 15, 2021 8:30PM EST)

Short-Term

All eyes are on $30K as Bitcoin looks to retest the support level and bottom of this $10K range once again. Although this time, after having traded below the 50 and 200 Day EMAs for weeks now, Bitcoin could be ready to roll over to a lower low. Whenever Bitcoin got closer to $32K, it tended…

Bitcoin rallied a bit on Wednesday, rising to about the $33K level before the closing the daily candle near the highs. This is a bullish hammer, albeit a small one, so I’m far from convinced that the short-term trend has switched to bullish.

(July 14, 2021 8:30PM EST)

Short-Term

Down 2 days, up one day, rinse, repeat. Bitcoin is slowly drifting lower back down to the $30K level again. Since July started, Bitcoin has formed a pretty clean descending pattern. As this sideways consolidation pattern comes to a close, which it could any day now, Bitcoin looks to break lower. Why…

Bitcoin pulled back to start the week, getting rejected by the 50 Week EMA and falling to about $32K on Tuesday. Bitcoin has been forming a bit of a sideways consolidation pattern for the past 2+ months, and based on this week’s bearish start, it looks like Bitcoin’s bound to resolve this sideways pattern to the downside in the near-term.

(July 13, 2021 8:30PM EST)

Short-Term

Bitcoin’s short-term prospects look bearish as the 2-month sideways consolidation appears to be leaning towards breaking lower. This almost assuredly means Bitcoin will retest support at $30K. If there’s more pain to come, then we…

Bitcoin rallied a bit on Friday, rising to about $34K as we head into the weekend. For the past 2 months rallies such as today have been short-lived and provided more opportunities to fade the rally than anything. In the short-term, it looks like Bitcoin may continue to fade lower.

(July 8, 2021 8:30PM EST)

Short-term:

If BTC breaks below the $30K level, then it’s likely that we see a $10K move based upon the consolidation pattern, making $20K the next target. If we break below $20K, then it’s likely that BTC goes much lower: $10K or maybe even the 2020…

We pulled back again as the 200 Day EMA has offered resistance. $30K is support and if BTC can break below, we could see a drop to $20K. $20K was the breakout point in the previous 2020–2021 impulsive wave up. Market memory would likely come into play as well as it would be the lower end of the next lower $10K range.

(July 8, 2021 8:30PM EST)

Short-term:

In the short-term it looks like there’s a bit of bearish pressure ahead in the immediate term. BTC has been unable to regain any momentum to the upside, so another dip is likely…

Bitcoin rallied a bit on Wednesday, pushing up to $35K before giving back some of the gains, posting the third consecutive green daily candle this week. Bitcoin is bubbling back up towards the 200 Day EMA but still remains both the 200 Day EMA and 50 Day EMA, which is declining sharply now.

(July 7, 2021 8:30PM EST)

Short-Term:

Bitcoin remains in a technical short-medium term bear market after trading below both the 50 and 200 Day EMAs since mid-May. Bitcoin continues to find resistance around the $35K level which is now supported by slowly declining 200 Day EMA just above.If…

MoneyRedPill

Is this your best life?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store