Bitcoin chart analysis today
Technical Analysis is the study of the behavior of the market and market participants. We try and identify the direction of the primary trend and invest accordingly.
If it is liquid and driven by the supply and demand dynamics in that particular market, then applying bitcoin chart analysis today methods of price analysis makes perfect sense and it works very well. Our clients really enjoy it, whether they are actively trading it or just interested in the product.
To be honest, one of the biggest reasons why I decided to start including it in my weekly analysis is because I saw an opportunity to profit from this market. My targets up near were hit very quickly and even exceeded them. In late October last yearBitcoin once again was completing a similar consolidation and once again there was bitcoin chart analysis today reason to buy.
In fact, pretty much the exact same reasons as in April. So the trade was: Its amazing how well the supply and demand dynamics work in markets. Bitcoin is clearly no different. Bitcoin is no different. Moving forward what do we want to see? The market exceeding those levels is evidence that this is now the opposite and there is more demand than supply near the level.
Therefore, we want to be long Bitcoin if we are above the area that was resistance in and bitcoin chart analysis today again in early January this year:. Bitcoin chart analysis today Bitcoin is below the highs, then the market is suggesting that the demand has NOT absorbed all of that overhead supply, and therefore a long position makes little sense.
The upside objective here is nearwhich represents the A good topic of conversation lately has been the old bitcoin vs gold argument. The question is not whether philosophically one is better than the other. The only question we need to care about is which one can make us more money. You can bitcoin chart analysis today here in the log chart that this is a strong uptrend, no doubt.
They are each breaking out one by one. Here is Bitcoin in Euro:. This is a great market that behaves as markets driven by supply and demand should.
The one thing I will say is that the cycles are certainly much quicker. So it should be treated that way. So shorter and more frequent cycles makes sense. For weekly updates on these Bitcoin charts, sign up here. Therefore, we want to be long Bitcoin if bitcoin chart analysis today are above the area that was resistance in and once again in early January this year: Here is Bitcoin in Euro: Here is Bitcoin priced in Yen: Bitcoin in Canadian Dollars: Search All Star Charts.