Cryptocurrency

Riding the Bitcoin Trend: Buy-the-Dip Strategy for BTC/USD

On Friday, September 7, at 9:30 a.m., a parachute test for a future mission to Mars successfully launched on a NASA Black Brant IX suborbital sounding rocket from Wallops Flight Facility. The rocket carried the Advanced Supersonic Parachute Inflation Research Experiment (ASPIRE) from NASA's Jet Propulsion Laboratory (JPL) in Pasadena, California. The payload is a bullet-nosed, cylindrical structure holding a supersonic parachute, the parachute's deployment mechanism, and the test's high-definition instrumentation, including cameras, to record data. The payload descended by parachute and splashed-down in the Atlantic Ocean 28 miles from Wallops Island. The parachute was successfully recovered and returned to Wallops for data retrieval and inspection.

Bitcoin Uptrend Analysis The trend is a friend for Bitcoin (BTC/USD) again. All three of the major moving averages are pointing upward for Bitcoin. This synchronization of the 20-day moving average (DMA), 50DMA, and the 200DMA supports a buy-the-dip strategy after the big March breakout in the wake of the banking Panic of 2023. Assuming … Read more

Bears Convert Picture-Perfect Resistance Into Major Breakdowns – The Market Breadth

major breakdown (Credit: ms4jah on Flickr)

Stock Market Commentary: Unlike the prior week, last week was all about the fundamentals, and the fundamentals made a huge difference. After failing to break through picture-perfect resistance levels, especially the 20-day moving averages (DMAs) (the dotted lines in the charts below), the indices were left vulnerable to selling pressure. The pressure started with Federal … Read more

New Crypto Drama Escorts Abrupt End of Bullish Run for Stocks – The Market Breadth

abrupt end (Credit: Crash by JessicaSarahS on Flickr)

Stock Market Commentary: The last bullish run in the stock market came to an abrupt end. The day started on a positive note, but trading went awry after a mix of relatively unsurprising economic news releases and Fedspeak. News that the Justice Department would announce an international enforcement action against a cryptocurrency entity seemed to … Read more

Parabolic Gold and Crypto In Focus with Looming Debt Drama

national debt drama (Credit: Peter G. Peterson Foundation)

With the power change in the U.S. House of Representatives, 2023 will be another year of drama over the U.S.’s debt ceiling. Treasury Secretary Janet Yellen recently brought the looming debt drama to the forefront of economic headlines by delivering the obligatory warning about the risk of default if Congress does not increase the debt … Read more

Rolling Crypto Crises Test the Google Trends Momentum Check

crypto crises (Credit: Bitcoin broken in half on white background by wuestenigel on Flickr)

I will remember 2022 as the year of rolling crypto crises. One disaster after another undermined confidence in the ecosystem and forced changes in the bullish narratives for crypto. Through it all, the Google Trends Momentum Check (GTMC) stepped up to the test as a technical signal for short-term bottoms in Bitcoin. These crises did … Read more