Bitcoin price analysis, 8 January 2019
As always with the volatility in these markets, they can change on a whim with a wild bitcoin price swing in either direction like a whipsaw. Looks like the bear is pulling it back a bit at the moment. We’ll see how it plays out the rest of the day!
By Ezio Van Horst
It’s going on two days now that we have had that bull push to the $4000 level, with channeling now in that $3900 – $4000 zone. We had a 24H low of $3922 set yesterday evening, with another bull push through the night to a new 24H high of $4069.80 on Binance with a strong retracement as I write this. As always with the volatility in these markets, they can change on a whim with a wild bitcoin price swing in either direction like a whipsaw. Looks like the bear is pulling it back a bit at the moment. We’ll see how it plays out the rest of the day!
Currently, I’ve been mainly referencing Binance and their basic charts using various indicators such as MACD & RSI along with support/pressure and trend line tools drawn at various points of reference for my posts. Binance is one of the bigger exchanges, and this is what most people will get when using their platform, along with more advanced Trading View Charts. Eventually, I will start to get into other exchanges, these more advanced charting applications, and other various types of tools and indicators as well as adding fundamental analysis.
A look at the bitcoin price charts
To start, we’re looking at the daily 01/07/19 BTC / bitcoin charts at 18:15 and 18:22 PM PST, looking at the MACD and MA Indicators:
We’ll close today’s report with a look at the 30M, 1H, and 12H 01/08/19 BTC / bitcoin price charts at 06:32, 06:57, 06:58, 07:39, 07:57, 08:26, and 08:28 AM PST, looking at the MACD, MA, RSI, and Stochastic RSI Indicators, as well as a support/pressure tool line drawn at the $4000 level:
About the author: Ezio Van Horst is the owner of Alt Trading Systems. ATS provides a blend of advanced technical trading and integrated emerging technologies. Van Horst shares his price analyses on LinkedIn.