Bitcoin Price Drifting Sideways
In the ongoing correction below significant chart resistance near $243 (Bitfinex) and 1507 CNY (BTC-China), the Bitcoin price chart is unfolding a complex corrective price pattern. Today's summary article outlines the market condition, with more extensive analysis to follow on Monday. 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: 13h26 UTC. Bitfinex 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the....
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Bitcoin. Sometimes the best play is to just wait, and that seems to be the case for Bitcoin, as it continues to move sideways through an arc of resistance. As mentioned a day or two ago, this sideways movement might last close to another week. The latest daily chart follows: Those who have been following along will recognize that on the short-term setup, price is working its way through 4th arc resistance. The longer-term setup shows a similar picture. Interestingly, price is exactly at the point at which the 2nd of the arc pair will be hit, 90 degrees past the big jump of Sept 3. While my....
Ethereum has been underperforming Bitcoin throughout the past couple of days, drifting lower while the benchmark crypto nears its 2020 highs Higher risk assets like ETH may be seeing tempered price action because investors fear the sustainability of BTC’s latest push higher If it can stabilize and see a continued bout of sideways trading, then assets like Ethereum may be able to push significantly higher One trader is noting that until $460 is flipped back […]
Not much happened today in the price action of litecoin. As we can see in the 1H chart, price has been drifting sideways since the cryptocurrency rallied from around 1.60 to about 1.82. While price is indeed still in this consolidation range, we can see a bearish bias. Litecoin (LTCUSD) 1H Chart April 1, 2015. 1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are in bearish alignment and are sloping down. 2) Price is starting to hold below the cluster of these SMAs, which shows bearish bias. 3) The RSI has held below 60, and has tagged 30, showing development of bearish....
Bitcoin appeared to hitch a ride on Elon Musk’s rocket on Friday. The cryptoasset soared by 20% to hit $38K as the world’s richest man added #bitcoin to his Twitter Bio, and a record number of options contracts expired. However, despite the spike, soon enough the world’s largest crypto was drifting back to earth. This wild swing concluded an otherwise relatively quiet week in the cryptoasset market. Bitcoin largely drifted sideways as a report revealed […]
Bitcoin has been caught in the throes of immense volatility as of late, with buyers losing their edge over its price action The cryptocurrency is now, once again, drifting down towards the lower-$30,000 region, which is around where it has been trading throughout the past few weeks Where the entire market trends next will undoubtedly […]