Chart analysis: bitcoin and Tullow Oil 

Just a couple of weeks after making a record high, independent analyst Alistair Strang runs his software for clues about bitcoin's future direction. He also looks for signs of life at oil company Tullow. 

3rd June 2025 07:34

by Alistair Strang from Trends and Targets

Share on

oil crude bp shell 600

Bitcoin

From our perspective, closing above $105,000 dollars was important for bitcoin as it “proves” the potential of some future traffic upward.

Movement next above $112,000 calculates with the potential of a lift to $120,213 next with our longer-term secondary, if bettered, working out at $135,800. One interesting aspect of bitcoin's price movements emanates from the price now mapping itself against each day's closing prices, rather than day trade highs and lows.

For us, this is quite a happy thing as it makes life easier when looking for danger points. At present, below $92,000 would provide the first solid signal of reversals ahead.

We can also make the point about the circled area on the chart below, this being a point where bitcoin managed to close below the uptrend. In summary, should the price dip below such a level at $52,000, we shall swiftly revert to suggesting folk buy a pair of running shoes and escape a terrible future.

btc020625.jpg

Source: Trends and Targets. Past performance is not a guide to future performance.

Tullow Oil

Tullow Oil (LSE:TLW) is finally scratching the itch which has been rotten share price movements. Too often, price movements here have felt like a share price being artificially managed. 

Tullow share price has finally closed above the downtrend since May of last year, giving very slight hope things may have changed.

Movement next above just 15.8p calculates with the potential of a lift to an initial 16.4p. Our secondary, should such a mild target be exceeded, works out at 20.5p and an expectation of some hesitation, given price price movements from August to December last year.

Closure above 20.5p shall be regarded as a really big deal, opening a wild series of calculations which point to a future 41p eventually.

tlw020625.jpg

Source: Trends and Targets. Past performance is not a guide to future performance.

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

Related Categories

    Technical AnalysisTrading tips and ideasUK shares

Get more news and expert articles direct to your inbox