Tag Archive

Originally published in the BullBear Analytics Weekly Report released on 12/3/2014.  Partial excerpt only. Written by @AKWAnalytics. As we all know by now, the USMS will be auctioning off another 50,000 bitcoins that were acqured by the US government in the Silk Road bust last year. While the initial announcement spooked the market momentarily, it seems that traders are taking a “wait and see” approach.  In our opinion, the growth in the maturity of the bitcoin market is impressive and is exemplified by the muted reaction leading up to what would seem to be a seminal event (auction). This apparent evolution …

Originally published in the BullBear Analytics Weekly Report released on 11/19/2014.  Partial excerpt only. Written by @AKWAnalytics. The consolidation around key support levels continues as traders attempt to wade through the chop that has plagued the market for the past week. The parabolic rally up to 450 $ certainly spooked the bears, and the subsequent washout did no favors for the bulls. As we outline in the full BullBear Analytics Weekly Report, we are not ready to jump back into trading this market just yet as the technicals remain too mixed. However, unless key support levels at 334 $ and 320 …

Originally published in the BullBear Analytics Weekly Report released on 11/14/2014.  Partial excerpt only. Written by @AKWAnalytics. Just as a flurry of noted tech journalists have come out predicting the demise of bitcoin (for the millionth time), BTC decides to make them look silly by rallying 120 $ in five days! This is why they are working as journalists, and not killing it in the markets. While it is too early to call a definitive bottom, we do think the bulls will rally into year end. This is not to say that prices can’t have violent moves to the downside(see the …

Originally published in a Bitcoin BullBear Market Update on 11/5/2014.  Partial excerpt only. Written by @AKWAnalytics. By far the most interesting development in the bitcoin complex in our opinion is the apparent decoupling from gold and silver.  Over the past few months, BTC has been treated as a hard commodity by the investment community as the US dollar has strengthened. Makes sense, right? Well, not so fast.  While it makes sense that bitcoin should be treated as a commodity given the limited supply, that is not nearly the whole story.  And while It also makes sense that if the dollar is getting …

Originally published in a Bitcoin BullBear Market Update on 10/29/2014.  Partial excerpt only. Written by @AKWAnalytics. The past week in Bitcoinland has been entirely uneventful from both a news and price perspective. 350 $ was obviously the big number to watch as traders see-sawed price slightly above and below there. Now that it has been broken in earnest, we see further downside into the OTE. While the longer term charts continue to hold up pretty well in the face of all of this selling pressure, the shorter term ones are saying that some additional work needs to be done on the downside.  …

Originally published in a Bitcoin BullBear Market Update on 10/22/2014.  Partial excerpt only. Written by @AKWAnalytics. Bitcoin has been trapped between 349 $ and 397 $ for weeks as market participants grapple with an unresolved bottom at 275 $ in a medium term bear market.  There are many similarities between Summer ‘13 and now, however the technicals must confirm this instinct. We stated last week that the current rally off of the 275 $ low was reminiscent of the action in the Spring of this year that took prices up to 683 $.  The more we watch the price action,  the more …

Originally published in a Bitcoin BullBear Market Update on 10/15/2014.  Partial excerpt only. Written by @AKWAnalytics. It is very rare when the volatility of the stock market overshadows the volatility in the bitcoin market, but indeed that was the case this week. The next few months should be very interesting as this will be the first period of true stock market uncertainty since bitcoin has gained legitimacy. There are many analysts in the crypto space that seem to think that bitcoin is somehow fundamentally correlated to the S&P 500. Perhaps this is due to a risk-on point of view, or perhaps it …

Originally published in a Bitcoin BullBear Market Update on 10/8/2014.  Partial excerpt only. Written by @AKWAnalytics. It has been a fascinating week for us technicians as the price action in bitcoinland has given us alot to chew on. Of course we must mention “bearwhale” seeing as though he unleashed the largest single sell order in BTC history only to be rejected to the upside… So, in the midst of the panic selling that occurred on late Sunday afternoon, some genius decided to send 30,000BTC to Bitstamp to sell into the madness. When the order showed up, prices fell 10%, then it was …