Bitcoin Analysis: Week of Oct 4 (Quick Update)

Bitcoin Analysis: Week of Oct 4 (Quick Update)

Last Week’s Review. In last week’s post we concluded with the following statement: Our overall stance remains Long-Term Bearish (with still limited downside), Intermediate-Term Bearish and now also Short-Term Bearish. As much as this analyst hopes to be wrong, Bitcoin’s price is sitting at its most vulnerable point of the year. The highest probability move is the creation of new lows in the mid US$370’s and the most likely target for a potential stop to the slide in price is the US$340-350 area matching the lows of April. Falling below that zone we are looking at US$260-270 for the next....


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Bitcoin Price Seems Unwilling to Move

Bitcoin Price continues moving in a narrow range in indecisive trade. Today's analysis is presented during early Asian session market activity and will be updated during the US session in case of any notable chart activity. Time of analysis: 03h00 UTC. Bitcoin Price Analysis. Readers, I have an all-day commitment and present this analysis during the Asian morning. I will be back at my desk during the US session and will update the analysis then if necessary. A quick look at the depth charts of BTC-China (left), Bitfinex (center) and BTC-e (right) reveals the low order volumes in the active....

Bitcoin Price Heading East

Bitcoin price continues sideways trade in a narrowing range. Like most of this week's analysis, today's update presents no new information for regular readers, although incidental readers may be interested in the matter-of-fact commentary below. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h10 UTC. OKCoin 3Month Forward 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Price is pushing higher within the defined....

Bitcoin Price Analysis: Week of Jan 26 (Spotting a Trend Change)

Last Week we concluded with the following: We are turning short term Bullish here and are looking for prices to rise back to the vicinity of the breakdown level of US$250. When we get there, the most likely outcome would be more downside and if this downside has a quick reversal above US$200 we might be able to finally call the low. “Bitcoin does not need a Wall Street operated exchange, it just needs people to realize what Governments are doing to them economically, EU citizens are on deck.”

Bitcoin Price Retesting $240

xbt.social analysis has been biased to a decline below $240 for the past week. Yesterday, Bitcoin price dipped below this important support level twice before retreating again this morning. Following a pullback, it is anticipated that the market will return price to this level - a break below it implying decline to at least $235. Readers are alerted to a new analysis update schedule: starting today, daily Bitcoin price analysis will be published at the start of the day (UTC). Articles will be updated with major market events, during the course of the day, where appropriate. This analysis....

Bitcoin Analysis: Week of July 27 (Introduction to Daily Charts)

As a follow up to last week’s higher-level overview, this week we will take a closer look at Bitcoin’s price and introduce a Daily Pricing Chart. Before diving right in, it’s strongly recommended for the readers to take a look at Investing 101: How to Predict Bitcoin’s Price. Armand Tanzarian makes several good points that anyone trading with a high emphasis on technical analysis must keep in mind. This weekly series is meant strictly as a guide and NOT a short term trading tool, which is why we will have a bigger focus on longer time frames. We will also attempt to educate readers that....

Quotes

I think it's [Bitcoin] a technical tour de force, but that's an area where governments are gonna maintain a dominant role.

Bill Gates, founder of Microsoft