• HOME
  • BITCOIN PLANS & PRICING
  • ALTCOIN PLANS & PRICING
  • FREE NEWSLETTER
  • BLOG
    • Bitcoin Price Reports
    • Altcoin Price Reports
    • Bitcoin
    • Ethereum
    • Monero
    • Dash
    • Bitcoin Glossary
    • Non Gamstop Casinos
    • 실시간 바카라사이트
    • Casinos Not On Gamstop
    • Online Casinos Deutschland
    • Casinos Not On Gamstop
  • ABOUT BBA
    • Our Mission
    • Legal
    • Contact
  • HOME
  • BITCOIN PLANS & PRICING
  • ALTCOIN PLANS & PRICING
  • FREE NEWSLETTER
  • BLOG
    • Bitcoin Price Reports
    • Altcoin Price Reports
    • Bitcoin
    • Ethereum
    • Monero
    • Dash
    • Bitcoin Glossary
  • ABOUT BBA
    • Our Mission
    • Legal
    • Contact

BITCOIN TECHNICAL ANALYSIS​

Daily Bitcoin Free Reports and price prediction. Just enough for you to get a taste of what we do.
​Subscribe to see complete trade ideas for all timeframes, receive full access to the BBA Slack Room, get custom price reports, and much more.

This is just a glimpse.  Join today for the whole picture.
JOIN US TODAY

Bitcoin Price Report for December 30, 2016

12/30/2016

0 Comments

 
Market Commentary:

Rationality is finally returning to the market following a rather manic period of buying over the course of the past week.  After failing to break back above the 970 $ level yesterday, sellers began to move into the market to drive prices down in classic bull market fashion before finding a bottom at near term support where buyers reemerged.  Now that price is back around the 950 $ level on relatively mixed technicals conditions going into yet another long holiday weekend, we still think that caution is warranted for the time being despite our VST ProTrade long entry trigger at [members-only text] overnight.  We will remain in this position for the next handful of days if need be, but will also be working with a stop closer to [members-only text] considering we have already seen a decent move off of the local lows.

Today we take another look at the 6-hour chart due to the fact that we think it gives is the best view of the short to medium term technical picture.  We can see that price currently seems to be mimicking the pullback from last week which was precipitated by a bearish pivot on overbought and divergent momentum, and was also stopped by trendline and historical support.  Also note that despite the recent [members-only text] and somewhat [members-only text] market structure, SCMR has not painted any [members-only text] candles yet and in fact is already trying to shift back to [members-only text].  Additionally, dynamic support continues to build around the key [members-only text] level while the near term uptrend line and an area of resistance turned support both provide a good spot to shoot against for new scalp longs.  

Moving on to momentum and volume and it becomes clear that we have not yet had a [members-only text], however the selloff so far as been a good start.  Notice that Willy and the Stochastic are just now coming down out of officially overbought territory while RSI continues to try to work off its bearish divergence, plus MACD has crossed back below its zeroline and PPO continues to flash strong sell signals.  Conversely, the EMA's remain bullish, the SMA's are supportive and still confirming [members-only text], the A/D line continues to trend higher, and exchange volumes have not yet sent a clear sell signal.

While we cannot rule out the possibility of a continuation to the downside prior to a resumption of the push to new highs, we think it will present an even more attractive long entry opportunity in the critical [members-only text] area.  We would be unequivocal buyers of such a move, even though it would mean [members-only text], due to the fact that risk/reward would be quite attractive down at those levels.  On the other hand, there is also a decent chance that what we saw overnight was it in terms of the pullback and we simply tread water until the indicators are recharged early next week.  Either way, we feel prepared for what the market might throw at us this weekend, the final one of 2016.
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/30/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **Bitcoin ProTrade - Very Short Term [ACTIVE; ENTERED on 12/30/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/30/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [UPDATED on 12/30/2016]**:  We will consider a [members-only text] on a move to the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/28/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Picture
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 28, 2016

12/28/2016

0 Comments

 
Market Commentary:

Bitcoin continues it holiday ascent as increasing demand for coins runs head-on into a vastly reduced supply caused by the halving earlier this year.  Throw in the fact that the technicals have been conducive to rallies despite overbought conditions, and we have a perfect recipe for higher prices going into the end of this year, as well as the beginning of next.  While we are still in the upper half of the historical resistance band between [members-only text] that we discussed yesterday, the rapidity and conviction with which 940 $ was broken makes us think that [members-only text] will be surpassed with relative ease.  Although we cannot rule out some spike moves back to the downside as we approach the psychologically significant 1000 $ level, we would [members-only text]. 

Today we want to take a look at the 4-hour chart for an even closer look at how things are playing out over the near term.  We can see that price remains in rally mode following a breakout above the 920 $ local highs from earlier in the week, which looks to continue considering SCMR is [members-only text].  Additionally, we still have dynamic support building around the [members-only text] levels, the latter of which is also[members-only text], and market structure remains quite bullish despite substantial extension above the 200-period SMA and Ichimoku Cloud support.  Speaking of the Cloud, it continues to confirm the uptrend but the signal lines are saying that a small pullback is possible in the not too distant future.

The notion of a pullback is confirmed by the momentum indicators considering Willy, RSI, and the Stochastic are all officially overbought, MACD is still showing a bearish divergence, and PPO is flashing strong sell signals.  Additionally, volume profile remains porous below the market, we are well outside of the [members-only text], and exchange volumes are bullishly leaning but also divergent. Finally, price is now entering a Fibonacci extension range between the 161.8% and 200% levels, which means we could see at least a small local top between current levels and [members-only text]. Having said that, if the bulls breakthrough there with little difficulty, then there is really nothing stopping price from reaching 1000 $ in short order.  

Currently we see no reason to deviate from our plan to hold on to what is now the Long Term ProTrade for higher prices while hunting favorable setups in near term support zones in case of a pullback. Regardless of how the market trades around the key 1000 $ level, and admittedly we expect some volatility, we think price pushes substantially higher than that over the coming months, likely to [members-only text].
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/28/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/28/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/28/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [UPDATED on 12/28/2016]**:  We have moved the MT ProTrade to the LT position due to current market conditions.  NEW TRADE:  We will consider a [members-only text] on a move to the  [members-only text] area with a stop around [members-only text] and a target of [members-only text].

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/28/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 23, 2016

12/23/2016

0 Comments

 
Market Commentary:

Incredibly, bitcoin only stayed in the 800's $ for a total of about 48 hours before impatient bulls pushed price above 900 $ late yesterday.  Overall we think the bull market remains in full effect and is likely to continue for the foreseeable future due to a confluence of both positive fundamentals and favorable longer term technicals.  Having said that, price is currently struggling with the 915 $ level, and will likely do so at the 925 $ level as well, which makes sense considering we are now in the heart of the longer term OTE short zone off of the ATH's.  For this reason, amongst many others that we will discuss below, we want to remain [members-only text].

Seeing as though we are heading into a long holiday weekend, meaning we will return with a full Bitcoin Report on Tuesday, we wanted to take a look at a few medium and longer term charts in order to put the current price action into context.  We start with the weekly chart below for some perspective on the current state of this cycle, and we can see that all systems are go [members-only text] given market structure and the potential for the formation of another, even bigger, cup and handle pattern.  Also note that SCMR is still painting [members-only text], dynamic support is still building at [members-only text], volumes are confirming the breakout, and all short and medium term moving averages are accelerating to the upside.  Generally speaking, there are all signs that a [members-only text] is likely over the coming weeks.

On the other hand, there remain many worrying near term indications that continue to give us pause at current levels, mainly related to momentum.  Notice that Willy, RSI, and the Stochastic are all now officially overbought, while MACD paints a rather concerning bearish divergence. Additionally, price is now well outside of the [members-only text] area, is well within the long term OTE short zone, and the A/D line is losing a little bit of steam, all of which tell us that a pullback would be healthy and welcome.  As far as this chart is concerned, the relevant levels of resistance left before a break to new highs are the top of the OTE around 925 $, the psychologically significant 1000 $ level, and the actual ATH of 1163 $.  

Moving on to the daily chart, we can see that things currently looked stretched to the upside here as well, although they also [members-only text] over the course of the long weekend.  First of all, SCMR is still painting [members-only text] on this chart as well, however we also have much more dynamic support than on the weekly chart discussed above (the newest of which is building around [members-only text]).  Not only that, but volume is confirming the rally, the A/D line is still trending higher, the EMA's are stacking to the upside, and market structure remains bullish. Conversely, all of the momentum oscillators are overbought (Willy, RSI, Stochastic), MACD is extended to the upside, and PPO is flashing weak sell signals once again.  

While we would not be at all surprised to see another leg to the upside over the Christmas weekend, we think it will be tough for bulls to push through the 925 $ resistance level, or if so the 1000 $ mark, without a pullback to test support first.  We would be [members-only text], and would likely [members-only text].  If, on the other hand, a pullback does not materialize, then we will consider [members-only text]. 

Happy Holidays!!!
​
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/23/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **[UPDATED on 12/23/2016]**:  We will consider a [members-only text] position on a move to the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2a.) **Bitcoin ProTrade - Short Term [UPDATED on 12/23/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/23/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 21, 2016

12/21/2016

0 Comments

 
Market Commentary:

It's official!!!  Bitcoin is over 800 $ per coin for the first time since early 2014!!!  In our opinion the main drivers of the rally appear to be seasonality and supply shortages, however the market will need to transition into more of a demand-side story going into 2017 if prices want to keep climbing to new highs. With that said, we think sovereign wealth funds, small hedge funds, and ETF inflows will be the source of the bulk of the demand, which might actually be getting started now considering we got word that a German legacy asset manager recently added over $2mil in XBT shares to his portfolio.  We can't help but think this is partially why we saw a breakout over 800 $ last night, and actually could catalyze an even bigger move if other managers decides to do the same.

But enough talk about fundamentals.  Let's get to the technicals to see where we stand for the time being via the 6-hour chart below.  Notice that the rising wedge did in fact resolve to the upside, a rare occurrence indeed, which tells us that the bulls remain in full control and [members-only text]. We can also see that SCMR is painting [members-only text] while monthly dynamic support continues to build around [members-only text].  Additionally, we are now out of the near term supply area which had been holding back price for awhile, so this patch of resistance should now become support.  Generally speaking, things look on track for a continuation going into 2017.

Moving on to momentum and volume, notice that things haven't changed all that much over the past 24 hours considering the market was already overbought before the rally.  We can see that Willy, RSI, and the Stochastic are all officially overbought now, however MACD is confirming the breakout, PPO is not yet flashing sell signals, and all relevant short and medium term moving averages are stacking to the upside.  Again, these are likely signs of strength, not exhaustion.

Finally, despite the fact that price is now well outside of the volume profile value area in which multiple notches exists below it, both the A/D line and exchange volumes are telling us [members-only text].  While we still can't rule out a correction back down to test support in the [members-only text] area, we would be [members-only text].

Taking the technicals and fundamentals into consideration, we have closed the VST ProTrade breakout play from a few days ago at the 815 $ target in order to lock in some profits in case of a pullback.  We acknowledge that price could easily extend further to the upside, perhaps to the [members-only text] target area, however we also think that the current risk/reward profile has become unattractive enough to warrant moving to the sidelines.  Having said that, we welcome the next selloff with open arms so that we can jump back in on the long side for another ticket to ride the train to the moon ;) 
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/21/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **[ENTERED @ 793 $ on 12/19/2016; CLOSED @ 815 $ on 12/21/2016 for +2.77% PROFIT]**:  We have closed our LONG position off the 793 $ level at the intended target of 815 $ for a profit of 2.77% in less than two days.

2a.) **Bitcoin ProTrade - Short Term [UPDATED on 12/21/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

​2b.) **[UPDATED on 12/14/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.*
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 19, 2016

12/19/2016

0 Comments

 
Market Commentary (BTC):  

As we move from the weekend trade into this new holiday-shortened week, the shorter term outlook has gotten progressively more muddled, at least from a technical perspective.  Once again the market defied logic by moving sideways to slightly higher over the past few days, contrary to what most thought would be a volatile weekend, which tells us that indecision remains the main feature of the current market. In light of rather unconvincing technical evidence on both sides of the market, we need to take a close look at the 6-hour chart below in order to get a better idea of where we might head over the next couple of weeks..

We can see on said 6-hour chart that despite slow and steady progress to the upside recently, price action and market structure are [members-only text].  Notice that price continues to follow the ascending wedge formation while remaining in the short term supply area, both of which are typically bearish indications.  Also note that the Stochastic is officially overbought, Willy is very close to -20, RSI is already rolling over, and MACD is still bearishly divergent.  Additionally, volume profile remains porous below the market, we are well outside of the VP value area, and exchange volumes [members-only text].  

None of this instills much confidence that higher prices are in the cards over the near term, but there are still some signs that it remains possible.  Notice that SCMR continues to paint [members-only text] right now while new, and VERY strong, monthly dynamic support is now building around the [members-only text] level. Additionally, the 200-period SMA continues to confirm the bull market, the 50 SMA remains supportive, the EMA's are still stacking to the upside thus confirming the near term uptrend, and the A/D line remains strong and steady as players continue to accumulate around current levels.  

Despite what may seem like a relatively negative technical outlook on the market to start this Christmas week, the reality is not as bad as it appears.  While we do think there is a good possibility of a [members-only text] before the end of the year, we also think downside remains limited considering how willing bulls have been to buy dips recently (in addition to the supply shock theory we posited last week).  

​A move out of the wedge would likely target the [members-only text] area, which is where OTE, trendline, and dynamic support all sit, although an extension down into the [members-only text] area cannot be ruled out either.  Regardless, we remain [members-only text] of moves to the downside into these support areas given we still think the medium to long term forecast remains bullish.
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/19/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **[ACTIVE; ENTERED on 12/19/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around the [members-only text] level and a target of [members-only text].

2a.) **Bitcoin ProTrade - Short Term [UPDATED on 12/19/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

​2b.) **[UPDATED on 12/14/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.*
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 16, 2016

12/16/2016

0 Comments

 
Market Commentary (BTC):  

As bitcoin remains in a stagnant period in terms of fundamentals, we turn our full attention to the technicals for clues as to where the market heads next.  We remain somewhat uncertain following futures settlements overnight considering we did not see near the magnitude of price moves that we were expecting, in fact most of the volatility came just before OKCoin Quarterlies settlement occurred. This could either be a good thing or a bad thing given where the market currently sits, so we need to check with the charts to make sure nothing has substantially altered the short to medium term outlook.  

We begin today's analysis with the 6-hour chart for a look at the near term technical setup.  We can see that although the market did not experience much in the way of price movement last night, SCMR continues to paint [members-only text] while dynamic support builds around [members-only text].  Also note that there was a brief breach below the upper trendline yesterday, however ultimately it held as did the bottom of the near term supply area.  Additionally, the EMA's are starting to stack to the upside once again, both the 50 and 200 SMA's remain bullish and supportive, and market structure is [members-only text].

As far as momentum and volume go, notice that while RSI is getting close to overbought territory, Willy and the Stochastic still have plenty of room to run, MACD is about to cross the zeroline, and PPO remains neutral.  Not only that, but the A/D line continues to [members-only text] at current levels as trading volumes diminish while price pushes to the upside.  The one thing that continues to give us pause is a rather unattractive volume profile setup, however there appears to be too much [members-only text] to let the market [members-only text].

With that in mind let's move on to the daily chart in order to put the current action into context as we move into the weekend.  We can see that despite now being well within the OTE short zone, as well as the upper portion of the longer term supply area, price is not reacting with selling like we usually see in these circumstances.  In fact, SCMR is still painting [members-only text] on [members-only text], while dynamic support continues to build around the [members-only text] and [members-only text] areas.  Additionally, the A/D line remains in a steady uptrend, RSI and MACD still have some room to run to the upside, and Willy and the Stochastic are overbought but seem to be confirming strength as opposed to exhaustion.  

While there is a part of us that remains cautious on the market at current levels due to a potential bearish rising wedge that continues to materialize, as well as stretched momentum indications on multiple medium and long term charts, we cannot shake the feeling that price action is telling us that the early innings of a supply shock are currently playing out.  If this continues, and combines with a continuation of the increase we have seen recently in global demand, then we have the recipe for a major move over the coming weeks, and perhaps months.  

​On the other hand, a near term correction remains a possibility but we also remain [members-only text].  Either way, we feel comfortable with our ProTrades and positioning going into the weekend trading environment.
Posted ProTrade Ideas:

1a.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/16/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

1b.) **[UPDATED on 12/14/2016]**:  We will consider a [members-only text] position on a move above the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2a.) **Bitcoin ProTrade - Short Term [UPDATED on 12/15/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

​2b.) **[UPDATED on 12/14/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 12, 2016

12/12/2016

0 Comments

 
Market Commentary (BTC):  

Bitcoin is finally moving to the upside once again following what was a rather stagnant weekend of price action, contrary to our near term outlook on Friday.  Nevertheless, it looks like the scenario we laid out last week that the weekend trade could setup the market for a powerful move this week is indeed materializing despite a relatively lackluster rally today (esp. considering how pent up things are right now).  While we think a continuation to the upside over the next week or two is likely, we are less sure about how quick and how powerful the move will be.  Our hunch is that this breakout will be [members-only text] than many before it, mainly due to the strength of the historical resistance the market is currently dealing with. 

Today we take a look at two charts for a more complete view of where we are in terms of both the short and medium term forecasts.  We can see on the daily chart below just how strong the current resistance is that price is currently struggling with.  We are at the very top of the upper supply area which sits just above the bottom of the long term OTE short zone, both of which are significant areas of interest for sellers.  Additionally, Willy and the Stochastic are [members-only text], RSI continues to paint a bearish divergence, and MACD has yet to cross above its zeroline.  

On the other hand, SCMR is still painting [members-only text] candles while new and strong dynamic support continues to build around [members-only text], which is also where the upper trendline of the still intact ascending triangle formation lies.  Not only that, but trading volumes and the A/D line are confirming the rally while PPO continues to paint neutral signals.  Despite the fact that another retracement down into the [members-only text] area remains a possibility, we would jump at the chance to get long from down there once again.  

With that in mind, let's take a look at the 4-hour chart below for a closer look at the near term technicals. We can see that there was indeed a breakout this morning over local resistance in the form of the supply area off of the early December highs on what are still [members-only text] SCMR candles.  Also notice that we now have even newer and stronger dynamic support building around [members-only text], coincidentally where the upper trendline sits too, while the Ichimoku Cloud remains bullish and supportive of these higher prices. Finally, momentum is not yet overbought despite the steady price action over the past few days, although Willy and the Stochastic are [members-only text].  

Overall things look right on track in terms of a [members-only text] over the next month or two, however we still cannot rule out a final retracement back down into near term support prior to a sustainable move to the upside.  Having said that, once it becomes clearer that higher prices are inevitable, we expect some FOMO to kick in which should eventually take prices above the psychologically significant [members-only text] level.
Posted ProTrade Ideas:

1.) **Bitcoin ProTrade - Very Short Term [ACTIVE; ENTERED @ [members-only text] on 12/10/2016]**:  (a) We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].

b.) **[UPDATED on 12/12/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/12/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 9, 2016

12/9/2016

0 Comments

 
Market Commentary (BTC):  

Is bitcoin preparing for yet another bout of weekend volatility?  Considering how well price has held up during futures settlements over the past 6 hours, we think the odds of a breakout above 780 $ resistance over the next few days continue to increase.  If this rally does indeed materialize, then the market should experience a bit of FOMO as traders try to play the move.  

We would not be at all surprised to see [members-only text] at some point over the next 3 - 5 days, although we are still wary as to the sustainability of this first venture back up into the [members-only text] region.  We think a spike breakout up into the middle of the daily OTE short zone shown below is a good possibility in the not too distant future, although we also think a retest of the 780 $ breakout point will be in order at some point following that move.

Speaking of the daily chart, let's take a closer look at it for some clarity on the short to medium term forecast as we head into what could be a chaotic weekend.  First, notice that price continues to struggle with resistance in the form of the bottom of the previously mentioned OTE short zone, as well as the top of the upper supply area.  We can also see that the market is forming yet another ascending triangle, albeit a rather unorthodox one, while SCMR continues to paint [members-only text] on still developing dynamic support between [members-only text].  Additionally, market structure and price action continue to come in bullish while all relevant EMA's and SMA's remain supportive of the uptrend.

Moving on to momentum, the picture now is really not all that different than it has been for the past few months.  Willy remains pinned near officially overbought territory, RSI and the Stochastic both continue to [members-only text], MACD has just poked its head above the zeroline, and PPO remains neutral despite the recent strength.  Seeing as though the A/D line and trading volumes are still to confirming the bull market, we continue to interpret the steadily overbought momentum indications as a sign of market strength rather than of exhaustion.  Given this backdrop, we think it will be difficult to keep the bulls from moving price higher.  

All things considered, we do not see any compelling reasons to alter our current bullish bias on all timeframes.  The bears have had plenty of time and opportunity over the past few weeks to take price back down at least into near term support in the [members-only text] range, but could not even manage that despite profit taking from bulls.  While we cannot rule out a spike back down into our still intact VST ProTrade buy zone, which we would certainly take advantage of if given the opportunity, we think the odds of a pullback continue to diminish with each passing moment that price remains above 770 $.  

If things continue as they are for another 24 - 48 hours, we think it will be exceedingly difficult for sellers to keep price from moving substantially above [members-only text] over the near term.  This could be quite an exciting weekend, but even if not it will likely set the stage for an explosive move over the next week or two.
Posted ProTrade Ideas:

1.) **Bitcoin ProTrade - Very Short Term [UPDATED on 12/9/2016]**:  (a) We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

b.) **[UPDATED on 12/9/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/8/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 7, 2016

12/7/2016

0 Comments

 
Market Commentary (BTC):  

As we move into hump day, bitcoin is exhibiting more strength than we thought it would earlier in the week.  Despite news that payments company Circle is ditching the ability for users to buy and sell bitcoins, as well as continued infighting over Core vs. Unlimited, the market has been able to move rather easily back up to what is now the new 6-hour supply area between [members-only text] that was shown in yesterday's update.  Considering how well the market is absorbing what should be rather bearish recent developments, we think there is a much better chance of price making new highs in the near future.  If the recent strength continues through futures settlements over the next few days, then we would not be at all surprised to see [members-only text] by this time next week.

Today we return to the 12-hour chart seeing as though the minor descending channel from the 6-hour chart yesterday has already been broken higher.  We can see that market structure has come in much more bullish, and in much quicker fashion, than previously expected, although price does remains in what is now a pivot zone as well as yet another ascending triangle formation.  Also notice that SCMR is painting a series of [members-only text] candles while very strong monthly dynamic support continues to build around the [members-only text] level.  Let's not forget we also still have a bullish and stacking 9/18 EMA cross, the 200 SMA remains in a steady uptrend, the A/D line is still moving higher, and volume profile continues to fill in nicely above 720 $.

Moving on to momentum, notice that Willy and RSI are not officially overbought but are pinned in the upper half, the Stochastic has moved into overbought territory although downside appears limited, and MACD remains positive.  On that note, if price can break above the key [members-only text] historical resistance level on these overbought momentum indications, then they will likely be signaling the beginning of yet another significant leg to the upside over the coming days and weeks.  Conversely, PPO is starting to flash some minor sell signals and price is now well within the near term [members-only text] zone, so we need to be cautious around current levels.  With that in mind we have taken off the VST ProTrade at the intended target of 765 $, although considering how price action and market structure are developing we feel comfortable trying to catch another [members-only text] if it materializes.

There is no doubt that our short, medium, and long term biases are now all in the bull camp going into the end of the year.  While we cannot rule out a few more washouts to the downside, likely back down into the [members-only text] range, we would buy that area once again for yet another retest of the regional and local highs between 770 - 780 $.  That being said, the longer price hovers around current levels the harder it becomes for bears to spook the market back down to substantially lower levels, hence our call for new highs if price can maintain through futures expirations.
Posted ProTrade Ideas:

1.) **Bitcoin ProTrade - Very Short Term [ENTERED @ 744.85 $ on 12/5/2016; CLOSED @ 765 $ on 12/7/2016 for +2.71% PROFIT]**:  (a) We have closed our LONG position off of the 744.85 $ level at the initial target of 765 $ for 2.71% profit in 2 days.

b.) **[NEW ISSUED on 12/7/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/6/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments

Bitcoin Price Report for December 5, 2016

12/5/2016

0 Comments

 
Market Commentary (BTC):  

As expected, bitcoin has slowly crept to the downside over the past few days following our ProTrade exit above the 770 $ level.  Now we are back below 750 $ as profit taking continues, however price is already finding some support in the near term [members-only text] area.  While we are not expecting a rapid rebound off of these level just yet, the short to medium term technicals are indicating that [members-only text] remains an attractive spot for at least a countertrend bounce higher in the not too distant future.

In order to better catch our bearings going into the first full week of December, we take a look at the 12-hour chart below which remains one of our favorites.  We can see that despite the breakout over resistance at 755 $ late last week, price was unable to move above what is still a significant historical supply area between 740 and 780 $.  Also notice that the 750 - 755 $ area has become a bit of a pivot zone, which price is now below, however we are finding support at the top of the [members-only text] zone and the bottom of the previously mentioned supply area.  

Additionally, SCMR is painting [members-only text], which is encouraging considering there has yet to be a [members-only text], and dynamic support continues to build around [members-only text] (which is also where the [members-only text] now sits). Given these indications, we would be surprised to see a continuation much lower than we have already seen, although lets take a look at momentum and volume for more confirmation.

Notice that momentum looks better than it did at the beginning of the weekend given Willy is pulling back out of overbought territory, RSI is already testing support at the 40-line, the Stochastic is recharging nicely, and MACD is back at the zeroline.  Additionally, exchange volumes remain bullish, the A/D line continues to press to the upside, and volume profile is still attractive above the [members-only text] level.  On the other hand, the near term EMA's are slowly rolling over, or at least correcting, we are pretty extended above the 200-period SMA, and PPO continues to paint [members-only text] signals.  Overall, still a pretty mixed near term picture in terms of momentum and volume.

Generally speaking, our medium term analysis today confirms our thinking from last week that the market would pullback from the 770 - 780 $ resistance area before finding new support in the [members-only text] range, where we could be buyers of the dip.  Indeed, we have [members-only text], however we want to play it relatively safe from a stop level perspective given there remains a chance of a continuation down to the [members-only text] region prior to a resumption of the bull market.  Either way, we are prepared to take advantage of the situation no matter what the market makers throw at us.
Posted ProTrade Ideas:

1.) **Bitcoin ProTrade - Very Short Term [NEW ENTERED @ [members-only text] on 12/5/2016]**:  (a) We will stay LONG position off of [members-only text] with a stoploss around [members-only text] and a target of [members-only text].

2.) **Bitcoin ProTrade - Short Term [UPDATED on 12/5/2016]**:  We will consider a [members-only text] position in the [members-only text] area with a stop around [members-only text] and a target of [members-only text].

3.) **Bitcoin ProTrade - Medium Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position on a pullback to the a [members-only text] area.

4.) **Bitcoin ProTrade - Long Term [ACTIVE; UPDATED on 12/5/2016]**:  We will stay [members-only text] off of the [members-only text] level with a stop around [members-only text] and a target of [members-only text].  We will add to the position in the [members-only text] area.
**Premium members get to see live trades complete forecasts, and full charts everyday.
To get your access to our edge, subscribe today.**
Subscribe for Complete Forecast
Disclaimer: Please always do your own due diligence, and consult your financial advisor.  Author owns and trades bitcoins and other financial markets mentioned in this communication.  We never provide actual trading recommendations. Trading remains at your own risk.  Never invest unless you can afford to lose your entire investment.  Please read our full terms of service and disclaimer at the BullBear Legal.
0 Comments
<<Previous

    Reports Archives 

    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    October 2015
    August 2015
    June 2015
    May 2015
    April 2015
    March 2015
    January 2015
    October 2014
    August 2014
    May 2014

BullBear

Denver, CO 80204

[email protected]

Support

Contact

Terms of Use

ZenDesk

​© COPYRIGHT 2016. ALL RIGHTS RESERVED.
✕