Blockman Capital Bitcoin review clients 120220


Welcome to Blockman Capital Analysis. Today we’re returning to Bitcoin on behalf of our clients and we’re looking at the six month chart. Now, interestingly and we can see a nice uptrend through the early part of this year but I’m bringing this to your attention because we’re right to the level of resistance now in the price between about 10 3 and 10 7 on the bitcoin price. Interestingly, back at the end of October, we can see the spike where the price jumped up on the back of a number of short orders closing out on the exchange bitmex. The price then dropped away quite considerably down to this 7000 level. Now, therefore, we’re at a key level here, we’re expecting either to break through and the price then to continue up or maybe even retest the 12, 12 and a half thousand. However, it could easily fail away from here as well. If we now also compare it to one of the other coins we’ve been looking at recently. I’m going to look at Ripple. We can see what we were talking about in our last review, which is the overlying underperformance of Ripple against the other crypto market, but it’s catching up a little bit at the moment. So starting point very similar and then it dropped away, Overall, it sort of underperformed the general crypto market. But recently, over the past week or two, we’ve really seen a resurgence back to the upside. So when Bitcoin was plateauing and even dipping a bit, we actually saw that ripple was actually on a nice ascension. So we’re very closely watching these two coins at the moment. And if we can capitalise on behalf of our clients, we will do so. Thanks very much.

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