Bitcoin Forecast

The Bitcoin market rallied a bit on Tuesday to show continued respect for the 50-day EMA which sits just below.

The Bitcoin market initially rallied on Monday but gave back a lot of the gains to form an inverted hammer, which is a potentially negative sign.

The Bitcoin market was relatively quiet during the Friday session as we continue to hang around the 50-day moving average.

The Bitcoin market had rallied a bit on Thursday, but the most important thing you look at is the fact that the market has stabilized over the last 48 hours.

The Bitcoin market fell again on Wednesday but then showed signs of life again as the 50-day EMA has offered a significant amount of support.

The Bitcoin market has broken significantly to the downside to slice through the $50,000 level on Tuesday, apparently out of the blue.

The bitcoin market has finally broken higher during the trading session on Monday, to break well above the $51,000 level.

Bitcoin initially pulled back on Friday but then turned around to show signs of strength again as it took out the $50,000 level.

The Bitcoin market has rallied a bit during the course of the trading session on Friday only to turn around and form a less than impulsive candlestick.

The Bitcoin market rallied yet again on Wednesday as we continue to undulate back and forth in the same consolidation area just below the $50K level.

The Bitcoin market pulled back just a bit on Tuesday as the $50,000 level continues to be a headache for the market.

Bitcoin markets fluctuated on Monday as traders came back from a relatively quiet weekend.

BTC/USD has enjoyed a fruitful August of positive results as the cryptocurrency essentially gained another solid percentage ratio.

The Bitcoin market rallied a bit on Friday as we continue to build up a little bit of momentum in order to spring through the $50,000 level.

The Bitcoin market initially tried to rally and recapture the $50,000 level on Thursday, but at the time of writing we had reached as low as $47,000.