Bitcoin Price Continues to Decline: Where will it stop?
Shortly before European markets closed for the day on Tuesday, we published a piece highlighting the day's action in the bitcoin price and offering up our suggestions for what would become the levels to keep an eye on as we headed into the evening (GMT) and beyond. The bitcoin price collapsed throughout the day, marking the third considerable decline in as many days, and our primary bias was - reluctantly - a bearish one. Action throughout the night has validated this bias, and further decline now brings us to trade just ahead of 236 flat - a level we have not seen since the end of....
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Here we are, another day. And yet, the price of Bitcoin continues its upward trend. Today, we've reached a high of $215.00 at Mt. Gox (as of this writing, of course). Just how high will the price continue to climb? It's anyone's guess at this point, but it's certainly looking like we're in the beginning of a bubble here. Earlier this year, the price of Bitcoin reached as high of $266 before it's ultimate decline to the high 70s-range. What makes this interesting is that we're unsure whether or not we'll be able to break this year's high. With the help from the Chinese - who are scooping up....
Bitcoin price has pulled back from its highs near $420. It is not immediately clear if this is merely a price correction or a reversal back into decline. Price had been holding near today’s high at the 4-hour chart’s 200MA. On the last pull lower, price had triggered our xbt.social 1-hour dynamic stop loss and the buy trade is closed. What happens next will be interesting, since we will now see whether trend continues higher or reverses back into decline. Directly overhead is the resistance ceiling (pale blue) that currently overlaps a 2.618 Fib extension of the initial wave of advance of....
Bitcoin price continues labored decline. Optimistic buying intermittently pulls price to lower highs while the technical indications in favor of additional decline are compounding. The most recent lower high had formed reverse divergence in RSI (magenta annotation), and we can expect another wave down today. Bitcoin price decline continues with effort. For now we observe the price reaction at the 1hr 200MA (blue circle). The next reaction level is the up-sloping support line. If price breaks below this line, then the primary target is $404 (at the purple circle) and a secondary target at....
Ethereum price declined heavily due to the DAO hack, and lost around 40% of the value. Can losses stop in ETH or will it continue to move down? Key Highlights. Ethereum price moved down sharply and traded close to the $10.0 level against the US Dollar. There was a bullish trend line formed on the 4-hours chart (data feed via Kraken) of ETH/USD, which was breached during the downside move. The price is currently trading around the 100 simple moving average (H4), which may play a major role for the next move. Ethereum Price Decline. Ethereum price ETH fell like a stone during the past few....
Action in the bitcoin price last week was primarily dominated by an overarching downtrend, and - despite a number of small and temporary recoveries, we were unable to see a marked return to any sort of bullish momentum. Action over the weekend has been no different, with a series of drops following and preceding short frames of ranging action, and Sunday night saw us carve out fresh lows at 236.50, a level not seen since the beginning of last week. The question now is, is this decline likely to continue, or might we see the recovery we need? Let's take a look. The chart shows the action in....