Bitcoin price is now up $6,000 from yesterday’s low in a flash. A long wick below support is now left behind, forming a Japanese candlestick formation called a dragonfly doji. With a large follow through by crypto bulls already, a daily close above $36,000 could leave a reversal pattern behind on the charts. But to how high might the once trending cryptocurrency climb if it can find a bottom? And is this a dead cat bounce, or the full recovery back into a bull market the masses are waiting for? Will A Dragonfly Doji On The Daily Let Bitcoin Fly Again? Although so many investors in cryptocurrencies are quick to write technical analysis off as witchcraft or little more than a guessing game, there is a … [Read More...]

The adoption of the Bitcoin Standard by nation-states has begun. El Salvador will become the first country to declared BTC a legal tender. The announcement was made recently; the crypto space and its industry are still processing its impact. Although a relatively small country, El Salvador could trigger a similar effect as when MicroStrategy included BTC into its treasury. At that moment, a domino effect caused one of BTC’s biggest adoption periods by public companies. As Nayib Bukele, El Salvador’s Head of State said via his Twitter handle, Bitcoin has a $680 billion market cap. If 1% of this number it’s invested in this country, according to Bukele’s calculations, their GDP could grow by 25%. After a violent civil war, El Salvador … [Read More...]

Crypto assets like Bitcoin and Ethereum have taken a beating since April local highs, calling into question if the once powerful bull market is over or not. If it isn’t, a fractal discovered from the past market cycle forming this time around, could provide a roadmap for the last leg up of the current bull market. Here’s what that looks like if the trajectory continues to be followed and the fractal is accurate. Boom & Bust: Bitcoin, Market Cycles, The Halving, And More All markets are cyclical and cryptocurrencies are no different, albeit moving at a much faster rate. The always on aspect of crypto also has sentiment phases alternating a lot more quickly. For example, gold took nearly a decade of accumulation before a … [Read More...]

Was the recent crypto crash bound to happen? Or was it engineered? Is the bull market over for good? Or is the market gaining momentum, preparing for big movements? Your guess is as good as ours, but Moonrock Capital’s Simon Dedic is of the opinion that weak hands got their foot caught in a bear trap. Once again, they fell for a rich man’s trick. Before we explore the case further, let’s make sure we’re on the same page by consulting Investopedia’s description of what happens in a bear trap: To increase demand and get stock prices to rise, institutions might push prices lower so that the markets look bearish. This causes novice investors to sell stock. Once the stock drops, investors … [Read More...]