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Daily Bitcoin and Crypto Analysis

Morning‌‌ ‌‌Update—August 4—Macro and Crypto Markets

August 4, 2021

Justin d'Anethan

The pendulum that is investors’ minds swung back yesterday.

Daily BTC Analysis

August 4, 2021

Today’s chatter has been around two things: 1. Did the SEC’s Gensler just drop the largest hint yet that a Bitcoin ETF is coming? 2. Moving averages.

Morning‌‌ ‌‌Update—August 3—Macro and Crypto Markets

August 3, 2021

Justin d'Anethan

According to the latest CDC data, the U.S. had averaged more than 63,000 new Covid cases a day over the last seven days—the highest level since April this year.

Daily BTC Analysis

August 3, 2021

Bitcoin has traded soft again today. With upside momentum waning, prices have returned to retest support levels. Exchange-based data has supported this move back to the top of the trading range.

Morning‌‌ ‌‌Update—August 2—Macro and Crypto Markets

August 2, 2021

Justin d'Anethan

Last night, during Sunday trading, most equity indexes rose, including the Dow, the Nasdaq, and the S&P.

Daily BTC Analysis

August 2, 2021

Post the options expiry on Friday, Bitcoin rallied into the close to set up a test of resistance at $42,200 over the weekend. Prices failed to break higher, and today we have seen a rotation back down to support at $39,000.

Daily BTC Analysis

July 31, 2021

Thanks to yesterday's $4 rally, we made it to 9 consecutive up days in a row. Unfortunately, it appears this run is coming to an end: Barring a quick $1,000 rally, the Bitcoin bulls will have to be happy with the progress that has been made over the last week. The 20% plus rally arrived just as BTC was staring over the edge of a $30,000 cliff.

Daily BTC Analysis

July 30, 2021

Bitcoin is still aiming to set a new record for the most consecutive up days in a row. We have had 8 up days in a row, the most since 2015 (the record is 10, set back in 2013). Prices will need to close above $40,035 to register day 9.

Morning‌‌ ‌‌Update—July 30—Macro and Crypto Markets

July 30, 2021

Justin d'Anethan

Yesterday's trading was mixed. Early in the session, even with reports of economic slowdown in the US, traders were still buying, maybe thinking it solidified the accommodative Fed policies.

Morning‌‌ ‌‌Update—July 29—Macro and Crypto Markets

July 29, 2021

Justin d'Anethan

Yesterday’s narrative was somewhat bittersweet. On the one hand, Fed policies remain hyper accommodating, which is positive. On the other hand, the accommodating stance is based on lingering concerns about the economic recovery in the US (and also globally).

Daily BTC Analysis

July 28, 2021

Matt Blom

Bitcoin has fallen back below $40,000 today, as the denial from Amazon of the impending acceptance of Bitcoin as a payment method came through. Prices returned to our support level of $36,500 before rallying once more, a sign that this move may be supported by more than just click-bait headlines.

Morning‌‌ ‌‌Update—July 28—Macro and Crypto Markets

July 28, 2021

Justin d'Anethan

Even with positive earnings (earnings that were pretty much priced in), equity indexes edged down yesterday.