ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The Price Action Bitcoin (BTC/USD) is on more media radars after breaking out above $10,000 last week. Last month, Bitcoin broke out from a downtrend in place since the last big run-up peaked in June, 2019. The $10K breakout ran into a wall from resistance formed by the high when Bitcoin suddenly spiked straight up … Read more
The Price Action The excitement did not last. On October 25th and 26th, Bitcoin (BTC/USD) soared out of nowhere, and it interrupted my expectation for an imminent opportunity to accumulate for Bitcoin in the $6500-7000 range. That opportunity is finally here as a month-long slide accelerates. Wavering Signals from The Google Trends Momentum Check The … Read more
The “imminent launchpad” I expected for Bitcoin (BTC/USD) prices over a month ago quickly turned into a capsized boat. At the time, Bitcoin was pivoting around its 50-day moving average (DMA). In the week after my last post on Bitcoin prices and the Google Trend Momentum Check (GTMC), the GTMC broke the low from June … Read more
Bitcoin (BTC/USD) made a major peak on June 26th. Since then, the cryptocurrency has pivoted around its 50-day moving average (DMA). Three breakdowns of that line of support have been met with buyers which suggests to me that Bitcoin is consolidating a launchpad for imminently higher prices. The Google Trend Momentum Check (GTMC) supports my … Read more
As Bitcoin (BTC/USD) pulls back again to the $10,000 level, there is a lot of news swirling to explain the sell-off. Google Trends still works as a way to cut through the haze on Bitcoin. Fresh Validation for The Google Trend Momentum Check When Bitcoin ended its last parabolic run on June 26, Google Trends … Read more