George Samman

The blowoff top did occur as price reached a high of ~US$500, before running into what is an area of major overhead supply.

The daily chart also shows a Golden Cross as the 50 day EMA has moved above both the 100 day and the 200 day EMA. This is a bullish sign.

The Bitcoin price is back above US$300 where it hasn’t been since the summer’s Grexit fiasco. This has been a strong up move, in which the last 7 days have been positive (green candles).

Bitcoin Price Analysis from Cointelegraph

Bitcoin Price Analysis from Cointelegraph by George Samman (Week of October 19)

The Price has not only broken through the 50 day EMA, but has now moved above the 100 day EMA as well. A test of the 200 day at ~US$256 should occur. However, a lot of energy has been spent and the RSI is getting near an oversold level.

In recent weeks there has been noticeably more volume on two of the major bitcoin exchanges: Bitstamp & OKcoin. The two charts below show the big increase in volume with very little price movement on both of these exchanges.

Bitcoin has been in a giant trading range all year. As the chart below shows, it’s been range bound between ~US$220 and ~US$300.

Bitcoin Price Analysis from Cointelegraph.

Bitcoin Price Analysis from Cointelegraph.

Following the July 10 DDOS and CC attacks at OKCoin, the topic of socialized losses and the negative impact they have on trader’s accounts has come to light again.

Bitcoin Price Analysis from Cointelegraph

The Chinese government along with its Central Bank have taken extraordi-nary measures to halt the free-fall of its stock markets.

China’s stock market woes have been part of the reason for bitcoin’s recent rise in price.

Bitcoin Price Analysis from Cointelegraph

As Greece approaches the referendum on Sunday July 5, there is complete uncertainty as to whether “yes” or “no’ will be voted for and what the ramifications of such a vote will mean.

Greece has become the first developed country to fall into arrears with the IMF as it missed its 1.6 million euro payment due Tuesday night.

The bitcoin price continues consolidating above the 50 & 100 day Moving Averages since breaking through them.

The never ending tragedy known as the Eurozone is flirting with disaster and the unknown consequences of what would happen if Greece is ejected by brute force or leaves by sheer will from the EU.

Bitcoin Price Analysis from Cointelegraph , Week of June 21

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

Bitcoin has finally broken above the noted 50 day Exponential Moving Average (EMA) at US$233 and done so with force.

Bitcoin Price Analysis from Cointelegraph , Week of June 14

While the hyperinflationary episode technically peaked in Zimbabwe in 2008, its national fiat currency has finally reached its painful end.

The bond markets are rattled and global yields are rising, signaling a possible reversal of an aging 33 year bull market in bonds that could have a major impact on all other global financial markets resulting in a reprice in asset classes across the board.

Bitcoin Price Analysis from Cointelegraph , Week of June 7

And so the war on cash begins with its first casualties: Swiss pension funds and large depositors at banks worldwide are beginning to feel the impact of negative interest rates, which have the potential to unravel the global economy.

Bitcoin Price Analysis from Cointelegraph

Max Kaye is an Aussie with a passion for Bitcoin. He is currently working to bring a novel political party, the Neutral Voting Bloc, into existence using the bitcoin blockchain turning it into a political party of the future.

Bitcoin Price Analysis from Cointelegraph