Bitcoin Buy Setup, Apple Is On Alert

The knowledge of chart structure helps to navigate the market even when the latter surprises traders.

Bitcoin Chart

Bitcoin dropped a little bit later than I expected, creating a complex structure. The main coin updated the all-time high as it hit the $69k mark. If we look deep into the structure in the 4-hour chart above, we find that it was a part of a large two-leg consolidation (red down arrows). The new record high was established within a "joint" connecting two legs down. Continue reading "Bitcoin Buy Setup, Apple Is On Alert"

Is Bitcoin An Inflation Hedge? Maybe...

I don't have to tell you that no matter what economic stat you're interested in, the belle of the ball is inflation. It's the one that everyone loves to talk about. It's the one that politicians and talking heads like to worry you about. And it's the one that is responsible for a ton of real-world economic horror stories.

And right now, it stands a mind-boggling 5.4% annual rate, way above the Federal Reserve's target rate of 2%.

So, as a Bitcoin and blockchain enthusiast, is there something that maybe crypto can do for us as we navigate through increasing inflation?

You bet. And I'm about to tell you why.

Yes, Inflation Is Too High

If you're a fan of moderate inflation, you're probably not feeling great right now. Prices are at levels that haven't been seen in decades.

In fact, right now, inflation stands at an annual rate of 5.4% in September, up from 5.3% in August. And we haven't seen these kinds of levels in a long time. See for yourself... Continue reading "Is Bitcoin An Inflation Hedge? Maybe..."

The New Bitcoin ETF BITO: What You Need To Know Right Now!

I haven’t anticipated the launch of a security quite as much as the first Bitcoin Exchange Traded Fund (ETF), ProShares Bitcoin Strategy ETF (BITO). And when it finally hit two weeks ago, it was a ton hotter than even the most fervent enthusiasts expected.

But before you take a dive into this ETF, make sure to listen up for a sec. BITO is not all rainbows and unicorns.

What Is An Exchange-Traded Fund?

Before we get into the nitty-gritty surrounding BITO from ProShares, let’s take a step back and revisit what an ETF is under the hood.

An ETF is a type of security that tracks an index, asset, sector, or another asset. They can be designed to track a wide and diverse collection of assets or a narrower basket. They can also be created to track investment strategies.

In fact, if it’s an asset or index out there, there’s likely an ETF that can track it and let you invest in it. Continue reading "The New Bitcoin ETF BITO: What You Need To Know Right Now!"

Bitcoin Hits The Target, What's Next?

Last Wednesday, Bitcoin rallied to its highest price ever, reaching just over $67k. The minimum bullish target at the previous all-time high that was preset at the start of the month has been hit. The majority of readers guessed it right.

Did you book the profit?

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What's next? I see at least two opposite perspectives. Let us see them one by one.

Bitcoin Daily Chart

The chart above is based on the assumption that the next significant move is kicking off now after a considerable retracement from April to June this year. Continue reading "Bitcoin Hits The Target, What's Next?"

Crypto Market Cap Hits New All-Time High

Digital enthusiasts should be happy as last week, the total crypto market capitalization established a new all-time high of $2.5 trillion, surpassing the previous top of $2.4 trillion reached this spring.

Crypto

It coincides with the current move in Bitcoin, which is approaching an all-time high. Is it the main coin that contributes the most to pumping the market cap? Let us check it in the next chart of the total crypto market cap excluding Bitcoin. Continue reading "Crypto Market Cap Hits New All-Time High"