Bitcoin Trading - Price Correction On Profit-Taking
Bitcoin Trading has been in profit-taking mode for the past 24 hours after buyers pushed the Bitcoin price over $300 and 1,900 CNY yesterday. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 14h30 UTC. Bitfinex 4-Hour Chart. Price has corrected to 38% retracement of the advance across all exchanges. We would expect, based on the Elliott Wave Principle and from the Bitcoin chart history, that the correction should pull much lower - to 50% or 62% at least - but trade pushes price back above 38%....
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Bitcoin trading took price for another plunge below BTC-China's critical 1500 CNY level today. Buying support pulled price back above 1500 CNY and $242 on two occasions before an upward correction set in. 1500 CNY looks set to be tested again. 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 Trading and Price Analysis. Time of analysis: 10h51 UTC. BTC-China 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price has broken below the 1500 CNY support....
Ethereum Price Key Highlights. Ethereum price made a strong break below a consolidation pattern and showed follow-through with its selloff to new record lows. Profit-taking seems to be taking place, opening the possibility of a correction to nearby resistance levels. Ethereum price appears to be bouncing off its recent lows and might be ready for a quick correction to Fibonacci levels. Potential pullback points. Using the Fibonacci retracement tool on the latest swing high and low on the 1-hour time frame shows that the pair is closing in on the 38.2% level, which might hold as resistance....
Bitcoin price could pull back as low as the broken triangle resistance before resuming its climb, as technical indicators are hinting at a quick selloff. Bitcoin Price Key Highlights. Bitcoin price appears to be taking a break from its sharp climb, offering buyers an opportunity to catch the uptrend on a pullback. Bitcoin recently broke out of a symmetrical triangle formation and has surged past the previous year highs at $500. Price peaked at $600 before showing signs of a correction. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now, confirming that the longer-term....
Bitcoin has broken back above the $27,000 level during the past day, but if on-chain data is to go by, this surge may not last for long. Bitcoin Investors Are Taking Profits At Highest Rate In 3 Months According to data from the on-chain analytics firm Santiment, there is a chance that a short-term correction could happen for the cryptocurrency. The relevant metric here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name suggests, tells us about how the profit-taking volume compares against the loss-taking volume on the Bitcoin network....
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