This Bitcoin Bottom Is Dangerously Different Than the Last One

The Bitcoin bottom from a month ago continues to hold. However, the latest bounce off the Bitcoin (BTC/USD) bottom is dangerously different than the last one and the bottoms prior. Once again, Google search trends for “Bitcoin” is the key signal. Unlike the bottom in May where the Google Trends Momentum Check (GTMC) provided another … Read more

African Nations No Longer Lead the World in Bitcoin

Google trends provides a measure of the popularity of Google search terms. The data can indicate relative popularity and interest in a topic. I use the search on “Bitcoin” as a trade indicator called the Google Trends Momentum Check (GTMC). During my checks on the GTMC, I noticed for quite some time the African nations … Read more

A Bet on Bitcoin and Ethereum Bottoms

As someone who watched too much of this year’s crypto run-up from the sidelines, I welcome the recent implosions of Bitcoin (BTC/USD) and Ethereum (ETH/USD). These top cryptocurrencies are inherently extremely volatile, so sharp and deep corrections are features not bugs for crypto traders. As long as these assets enjoy a broad fan base of … Read more

Microstrategy Stock: A Fresh Lesson In Trading Parabolic Price Action

I am late to the resurgence of Microstrategy (MSTR), but I am finding some valuable lessons in the technical story. MSTR caught fire from an aggressive decision to protect cash reserves with investments in Bitcoin (BTC/USD). As a result, Microstrategy has enjoyed significant price appreciation from the current Bitcoin rally. Along the way, the uptrend … Read more

Central Bank of Nigeria Bolsters Cryptocurrency Ban, Enthusiasm Endures

Google Trends for Bitcoin in Nigeria

“…the CBN [ Central Bank of Nigeria ] has no comfort in cryptocurrencies at this time and will continue to do all within its regulatory powers to educate Nigerians to desist from its use and protect our financial system from activities of fraudsters and speculators..” The Central Bank of Nigeria (CBN), “Response to Regulatory Directive … Read more

Ethereum Success and A Revision to the Google Trend Momentum Check for Bitcoin

My first “test” trade on Ethereum (ETH/USD) succeeded. I took profits on ETH/USD as it faded from $700 and a 2 1/2 year high. I wanted to hold on, but the clincher triggered with Bitcoin (BTC/USD) fading sharply from its latest all-time high. The fade appeared to signal the beginning of the end of this … Read more

Crypto Tests At All-Time Highs: Bitcoin Sentiment and Ethereum Uptrend

Bitcoin Sentiment Riding High The Google Trend Momentum Check (GTMC) is staring down another test with Bitcoin (BTC/USD). A run-up in Google search interest in Bitcoin accompanied the run-up of Bitcoin to all-time highs. Google search interest is a proxy for sentiment. Accordingly, Bitcoin sentiment is running at extremes relative to recent levels. Per the … Read more

Bitcoin Price Failure: A Magnet At $10K Crushes Breakout

Bitcoin Price Failure In late May, a “price failure” in Bitcoin (BTC/USD) sent me to the sidelines. I decided to retreat to wait for a breakout and accumulate a new position on the way up. Two months later the moment arrived. The U.S. dollar (DXY) broke down and Bitcoin broke out. As a result, I … Read more

Why Nigeria Tops Google Searches for Bitcoin

I often use Google searches to understand the context for trading in Bitcoin (BTC/USD). I formalized this strategy into the Google Trends Momentum Check (GTMC). Consistently, Nigeria tops the list of countries with Bitcoin searches. A recent article in Bitcoin.com titled “Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the … Read more

Bitcoin: A Breakout After A Refreshing Pause

Two weeks ago, I examined the sharp pullback in Bitcoin (BTC/USD) and concluded that the cryptocurrency was taking a refreshing pause ahead of the next breakout. The breakout is here. This breakout is a double bonus as it represents a bullish (upside) resolution to a Bollinger Band (BB) squeeze. Such breakouts are tradeable with well-defined … Read more