Your Daily Support to Break Resistance.
29 Aug 2020 2 minute read 0 comments Biz Wisdom
Bitcoin rallied on Friday, recovering from yesterday's fall down towards the $11,000 level and settling around the $11,500 level. This area has caused a lot of choppy behavior as Bitcoin seems rangebound between $11,000 and $12,000 for now. (Aug 28,...
28 Aug 2020 1 minute read 1 comment Biz Wisdom
Bitcoin fell again on Thursday, reaching lower towards the $11,000 level. (Aug 27, 2020 8:00 PM EST) Based on what the charts are showing us, this is a short term pull back. Fundamentally, nothing has changed; in fact, the US federal reserve chair...
27 Aug 2020 1 minute read 1 comment Biz Wisdom
We all know that every 210,000 Bitcoin blocks created, or roughly ever 4 years, the Bitcoin protocol programmatically undergoes a "halving," in which the block reward to miners every 10 minutes halves. In 2012, it halved from 50 Bitcoin to 25, in 201...
25 Aug 2020 1 minute read 0 comments Biz Wisdom
Bitcoin pulled back again on Tuesday, moving lower near the $11,000 level below. This is an overall short-term bearish sequence of candles that, in the grand scheme of things, is a measured consolidation move after making recent higher highs, as far...
24 Aug 2020 2 minute read 0 comments Biz Wisdom
Bitcoin initially rallied last week, rising almost $1,000 to the ~$12,500 level before eventually giving back most of the gains and forming a inverted hammer. This is a bearish candlestick on its own, but when you consider where it is in this chart,...
22 Aug 2020 2 minute read 0 comments Biz Wisdom
First, let's define a Stock to Flow Ratio: A Stock to Flow Model quantifies a measurement of the proportion between all of a resource or asset's currently available supply and its current production rate. In commodities markets, analysts calculate th...
22 Aug 2020 1 minute read 0 comments Biz Wisdom
Bitcoin pulled back again on Friday, negating yesterday's gains and moving lower to test the $11,500 level. This is a small bearing engulfing candle and an overall bearish-looking short-term trend, so I would not be surprised if, over the next week o...
20 Aug 2020 3 minute read 7 comments Biz Wisdom
OmiseGo (OMG) has exploded upward to start the week, breaking out of a long consolidation and accumulation phase and doubling in towards the $6.00 US Dollar level. This is a major bullish breakout of a long downtrend that so many altcoins have suffe...
20 Aug 2020 1 minute read 0 comments Biz Wisdom
Bitcoin rallied on Thursday, bouncing off the $11,500 level and eventually settling around $11,860 USD. Thursday's price action snapped two consecutive red days, but such a relatively quiet and uneventful day doesn't have me convinced the bears won't...
20 Aug 2020 1 minute read 0 comments Biz Wisdom
Bitcoin fell again on Wednesday, breaking through the $12,000 level and eventually settling around $11,700 USD. Two red candles in a row is bearish without a doubt, but we see this as a short term consolidation after a 35%+ rally over the past 4 week...
