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Bitcoin Traders Running for the Hills Already?

The last 30 days did not bring a lot of joy to cryptocurrency traders, to say the least. Bitcoin reached, and on some exchanges even exceeded the $3000 mark on June 12th, but instead of continuing to the north, it fell to as low as $2120 on June 15th. Nearly a month later, the biggest virtual currency is…

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Bitcoin Bubble: Is It “Different This Time”?

Our first bullish outlook on the biggest cryptocurrency, titled “Bitcoin Hiding an Ace in the Sleeve” was published less than a year ago, on August 1st, 2016, when BTCUSD was trading near $620. It has been a wild ride, but ten months later, the price on most exchanges is hovering around $2900 per Bitcoin. And…

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Bitcoin’s Crash and Its Elliott Wave Meaning

If the market was a human being, every psychiatrist would easily be able to diagnose it with bipolar disorder, but when it comes to Bitcoin, it is nothing short of schizophrenia. The market capitalization of the cryptocurrency more than doubled in less than a month, after its price climbed from $1348 at the start of…

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Bitcoin Traders Prepare for Another Correction

Bitcoin traders took the price of the virtual currency to a new all-time high of $1623 on the Bitstamp exchange yesterday. Soon after that it fell by nearly $180 to $1444, before recovering to $1609 again. The cryptocurrency’s violent swings no longer surprise anyone and with Elliott Wave analysis, their direction is not such a mystery, as…

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Bitcoin Elliott Wave Outlook Ahead of the SEC

A month ago, on February 10th, we examined bitcoin’s tendency to extend the fifth waves of the impulse it draws. As of the time the article was published, the cryptocurrency was trading around $960, after a crash from $1075 to $914. But instead of selling with the other bears, the lessons learned from bitcoin’s manic-depressive past…

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Bitcoin Climbing the Wall of Worry Again

The first few days of 2017 made the growing Bitcoin society very excited. The price of the digital currency exceeded the $1000 mark and even managed to climb to $1140 on January 4th. Unfortunately, the very next day reduced the bulls’ hopes to ashes, after Bitcoin plunged to as low as $885 in a matter…

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Bitcoin Bulls Seem to Be Getting Tired

The last time we wrote about Bitcoin was on August 1st, 2016. The cryptocurrency was trading at $620 back then, after a decline from as high as $779 in June. Over four months ago, in the article titled “Bitcoin Hiding an Ace in the Sleeve?”, we shared our thoughts that “we should not be surprised…

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Understanding Bitcoin

Many Bitcoin fans like to say, that we – chartists – do not understand the crypto-currency and its behavior. There are Bitcoin lovers, still blinded by the past performance of the virtual currency, neglecting the change in trend. Ignorance is the cause why many investors took a hit, when Bitcoin topped in December 2013. Today we…

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Has Bitcoin run its course?

Since the failure of Mt.Gox, the worlds biggest Bitcoin exchange, the product “virtual currency” has not been seeing any huge gains. Other exchanges like BTCE and BITFINEX also met a huge drop in prices around the 90 US dollars level. Prices remained stable only on the american Bitcoin exchange BITSTAMP, where they dropped only to…

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Bitcoin making a comeback?

We are detecting a possible impulsive rally for Bitcoin, which started on 21st of February after falling more than 92% and bottoming at 95 dollars. Impulses show the direction of the trend. If this is truly an impulse, the new trend is up. If this is the correct count, it will mean that Bitcoin is…

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We warned you about Bitcoin. Did you listen?

The first chart below was posted on our Facebook page on November 27th 2013. Bitcoin was at its record highs around 1100-1200 back then, but we were warning you that it is already in corrective mode and a steep decline has to be expected. In the days after, the virtual currency peaked higher twice, but…

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Modern mania – Bitcoin

Mania defines as excitement of psychotic proportions manifested by mental and physical hyperactivity and elevation of mood. This behavior leads to extended fifth waves. They are usually retraced a 100%. Here is a textbook example of an extended fifth wave: Extended fifth waves are usually a result of greed or fear from hunger, drought. These…

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