Bitcoin Staging a Powerful Rally

Market Commentary (BTC): 275 $ is looking pretty darn good right now.  We mentioned yesterday in the price alert that a whale had deposited 30K+ BTC on to Bitstamp to dump.  We thought this might drive prices back down to the 275 $ area, however the massive supply liquidity quickly attracted demand liquidity at 300 $ and it was eaten in about 6 hours.  Pretty amazing stuff.  This is what we want to see to begin to consider a true bullish reversal and however things are looking up for the first time in months. Now, lets get to the good stuff…!

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Bitcoin Stabilizes as News Flow Slows

Originally published in a Bitcoin BullBear Market Update on 10/1/2014.  Partial excerpt only. Written by @AKWAnalytics. Market Commentary (BTC):   Compared to the past month, the past week has been relatively mild in term of news flow and price action. We find this interesting given that when the good news was pouring in, prices were cratering, but now that the news has subsided, the market has stabilized. We are not sure if this phenomenon has any relevance in terms of the longer term forecast for bitcoin, however we do find it curious and somewhat telling in the short term. It does is help …

Despite More Good News, Bitcoin Price Resumes Decline

Originally published in a Bitcoin BullBear Market Update on 9/24/2014.  Partial excerpt only. Written by @AKWAnalytics. Market Commentary (BTC):   Whether its news of PayPaly working with BitPay or Alibaba sucking capital from the bitcoin market, the theories abound as to what is currently driving the price. As always, we think the technicals precede price and are the true driver of bitcoin prices. Following the PayPal news yesterday, there was a ton of chatter on social media about how the yearly lows were in and that a new bubble was underway. Given how closely we monitor and analyze the market, we were skeptical …

A Long Road Ahead for Bitcoin Bulls…

Originally published in a Bitcoin BullBear Market Update on 9/17/2014.  Partial excerpt only. Written by @AKWAnalytics. Market Commentary (BTC):   At this point there is no use fighting the trend as it seems that no amount of good news is going to push BTC higher.  That is a hallmark of a bear market, which tells us that the Spring rally was a false bubble and an extended period of consolidation is at hand. When a market cannot go up on good news, it means that there is an overhang of supply, and that demand cannot overweigh that supply coming to market.  Until recently …

Bitcoin Markets Remain Quiet… A Little Too Quiet

Originally published in a Bitcoin BullBear Market Update on 9/15/2014.  Partial excerpt only. Written by @AKWAnalytics. Market Commentary (BTC):   When we said on Friday that we didn’t expect much action in the bitcoin markets over the weekend, we didn’t mean NO action!  It is difficult to remember a time when the waters were seemingly so calm in Bitcoinland, excluding seasonal factors.  We have been closely monitoring the charts over the past 48 hours, and at this point it is honestly anyone’s guess as to where this thing is going. Anyone claiming otherwise is mostly likely trying to sell you a bridge.  That …

ApplePay & Bitcoin Are Not Mutually Exclusive, They Are Symbiotic

Originally published in the Bitcoin BullBear Weekly Report on 9/10/2014.  Partial excerpt only. Written by @AKWAnalytics. Another week of very bullish news for bitcoin, and another week of little to no reaction in the market. The PayPal news was unequivocally positive, however there were mixed feelling about ApplePay, to say the least. All in all, we remain neutral for now, but we are growing more bullish as support levels hold. So, our view on ApplePay is simple. It’s a great thing for Apple, a great thing for the world of mobile payments, and will one day be a small, but important, …

Stability Returns to Bitcoin Markets

Originally published in the Bitcoin BullBear Weekly Report on 8/27/2014.  Partial excerpt only. Written by @AKWAnalytics. As we hinted at following the big downdraft to 442 $, the range trade has continued and even tightened as the market prepares for another large move. Support has been slowly moving up from 442 $ to 475 $ to 498 $, and now a new support level might have been found at 510 $.  While we continue to look for definitive signs of a bottom at 442 $, we also want to put the current cycle in perspective. The chart you see in the …

Bitcoin Price Tanks on Technical Breakdown

Originally published in the Bitcoin BullBear Weekly Report on 8/14/2014.  Partial excerpt only. Written by @AKWAnalytics. Despite more positive developments for bitcoin over the past week, the bulls simply could not gather any steam to the upside. That being the case, the bears decided they had enough and began selling in earnest. The move has been violent, however we expect at least a short term bottom in the near future.  While transaction volume has continued to move higher consistent with our discussion last week, this fact apparently does not carry enough positive weight nowadays. It is becoming evident to us that …

Bitcoin Markets Flat Despite Rising TX Volume

Originally published in the Bitcoin BullBear Weekly Report on 8/6/2014.  Partial excerpt only. Written by @AKWAnalytics. Once again there is not too much to discuss this week with regard to Bitcoin prices. After testing the low end of the medium term trading range, prices have stabilized around the 580 $ level.  While BTC prices languish under 600 $, there are some interesting talking points that we want to weigh in on. First, there has been much chatter that the recent pullback down to 555 $ was the result of Dell Computers selling coins that they recieved during their initial acceptance period. …

Bitcoin Prices Remain Range Bound… For Now

Originally published in the Bitcoin BullBear Weekly Report on 7/30/2014.  Partial excerpt only. Written by @AKWAnalytics. BTC Market Commentary: As we suspected might be the case earlier in the week, Bitcoin prices have remained under pressure as the medium term uptrend line was broken over the weekend and momentum continues to break down. We think this is a technical test of the bottom of the range with a short term target at the 540 $ double bottom.  The charts are still telling us that a breakout from the current 539 $ to 683 $ trading range is imminent, however the weakness …