Analysis: Bitcoin Price Crash Below $300 - How Much Lower?
Sunday trade brought the Bitcoin price below $300 across the BTC/USD exchanges. Price dropped to $275 at Bitstamp before climbing back above $300. Additional downside may still be possible, but there is strong evidence that the bottom may have been struck. Confirmation of a bottom will be covered in CCN's daily analysis articles during the coming days. As always, stay tuned to CCN for the latest Bitcoin price analysis. Bitcoin Price Decline Overview. It is ten months to the day since China's PBoC announced restrictions on the exchange of Bitcoin. It is a popularly held belief that this....
Related News
The bitcoin price chart slammed down like a Stark on a Bolton, today, but readers are being encouraged to take heart from the healthy correction and well-deserved profit-taking. This is the natural behavior of markets, and after a much need pullback greater things lie ahead for the bitcoin price chart and for Bitcoin at large. Price has dropped to the lower end of the support zone (orange) discussed in yesterday’s analysis, and it looks like the sell-off has not yet hit bottom. If decline continues, then the next lower level of support is at $575 where price consolidated in early June.....
In yesterday's Litecoin analysis titled, Pressure Mounts, I discussed the possibility of the altcoin heading lower and recommended shorting. In the last 24 hours, bulls have been decimated as the value dived from $1.97 to a six-week low of $1.60. However, the price recovered to $1.71 as sellers booked partial profits. The crash in Litecoin price came in conjunction with an absolute slump in the Bitcoin price from $280 to $250. Bitcoin has routinely had a prominent effect on other cryptocurrencies. Technical analysis on the 240-minute LTC/USD indicates that the sentiment has turned strongly....
Technical analysis (original article below). 20h18 UTC - final update. The chart below shows price challenging the $110 level. The inset reveals the ~4200 BTC buy orders waiting at this level. Selling pressure has chipped away at this level for several hours and there is little hope those orders can cause a reversal. It looks like the bears have sub-$100 in mind... Analysis will have to be halted at this point since fatigue is setting in. More tomorrow! 14h22 UTC. Below $135 and currently resting on $130. Indicators across all timeframes are stretched to the max and this systematic grind....
Bitcoin price has, during the past three days, formed a series of lower highs and higher lows in a pattern that resembles the consolidation prior to a decline. There are technical indications that a pull lower is on the cards, but it may not get far. 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: 15h00 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitfinex 1-hour chart shows the decline since the....
Bitcoin Price is showing signs of advance and has begun an assault on a long-term trendline that has both supported and resisted price moves since November last year. The move is expected, as has been outlined in these analysis articles during the week. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 13h10 UTC. Bitfinex 15-Minute Chart. The following analysis is quoted from the pages of xbt.social earlier today: The 15-minute chart has price bouncing on its 200MA (red) - piercing it, yet, not declining....