by OverviewFX | Sep 9, 2024 | Cryptocurrency
Bitcoin was looking ugly on Friday as it broke down to $52,500 but the dip buyers stepped up on the weekend and are continuing to buy today as the risk trade improves.The rally to $56,700 is nearly back to Friday’s high of $56,995 and that’s going to offer...
by OverviewFX | Sep 6, 2024 | Cryptocurrency
bitcoin dailyThere aren’t many charts more technical than bitcoin and with today’s 4.5% decline, it’s sending all the wrong signals.It’s only been below these levels for a few hours over the past six months and the last time it was here it was...
by OverviewFX | Aug 28, 2024 | Cryptocurrency
Bitcoin made some headway last week as it broke out of a consolidation patter and looked well on its way to recouping the July-August losses. But the mood changed early this week and it’s been steady selling, culminating in a 5% loss today.BTC dailyThe drop in...
by OverviewFX | Aug 28, 2024 | Cryptocurrency
The price of bitcoin is trading to a new low and in the process has moved below the $61,000 level.It is also moving further away from the near converged 100 and 200-day moving averages (blue and green lines on the chart above) which come in at $63,478 and $63,712. The...
by OverviewFX | Aug 24, 2024 | Cryptocurrency
Bitcoin has been lagging in the recovery from the broad market rout in the start of August, in part because of worries about the sale of Mt. Gox bitcoin. But it’s making up for lost time today, rallying nearly 5% and trading at a session high.The daily chart has...
by OverviewFX | Aug 16, 2024 | Cryptocurrency
Mt. Gox fund liquidation weighed heavily on bitcoin yesterday in what was an otherwise-strong environment for risk assets. It’s been a tricky run for bitcoin as it disconnects from the tight correlation to the Nasdaq.I think that connection is ultimately...
