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

Bitcoin: A Trading Note for Breakouts, 10K and the Halving

Bitcoin (BTCUSD) broke out from a downtrend in late January but hit a wall at upper resistance last week.

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