Bitcoin Price In Downward Correction
The past six weeks' bitcoin price rally has bolstered the market's confidence. A technical price correction coincided with news about Greece, yesterday. Even in correction, the market is now more active and optimistic and we may expect additional rallying price waves when the current retracement has run its course. 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: 10h45 UTC. Bitstamp 4-Hour Chart. From the analysis pages of xbt.social,....
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The altcoins’ volatility has decreased. As it usually happens, a trend is followed by a period of calm, which is then followed by a new trend. Will there be a new sharp fall of altcoins? Ethereum’s price could not fortify at an important level of $16. There was only one option after that kind of development - to continue its downward movement as a correction towards the long-term upward trend. Ethereum’s price has yet again approached the minimal target of the correction. For a more likely downward movement there needs to be a rebound towards the whole downward trend. That rebound will....
http://cointelegraph.com/bitcoin-price-indexThe Bitcoin price is undergoing a correction within a downward trend. It’s approaching a point where it will decide between a continuation of the downward momentum, or an upswing. The downward trend has nott been broken yet. The current growth is just a rebound towards the medium-term downward direction. The BTCUSD price did not reach the medium-term resistance level of $417 and has formed a new key level at $409.
Bitcoin’s price is still undergoing a medium-term downward correction. A turn to growth didn’t happen, which means that there is a possibility of the price dropping to the next level. Where might the current correction end? Bitcoin’s price has not reached its top key level. After forming a micro-flat, it has continued its fall. Thus, a new resistance line has formed at $454. The length of the current correction depends on the moment when the advantage will go from the bears to the bulls. Bitcoin’s price has reached a key level at $445, and now there will be either a turn or a downward....
The rebound of ETH continues. The downward movement can turn out to be the last subwave of the downward correction. ETH/USD. The correction towards the downward movement which has started at $8.8 has not been fully formed. The upward movement has failed to break through the diagonal channel, thus not reaching a key level, which was a profitable area for the majority of the bears. Thus, this downward movement is mostly a rebound, rather than a turn to decline. That was manifested in the form of a flat-like fall. Judging by the buy stop orders, the current situation with the price of Ether....
Ethereum is currently traded between two key technical levels. An exit from that range will most likely provoke a weekly trend. Will the long-term upward trend continue? Ethereum’s price continues correcting toward the downward trend. So far, the structure of this downward trend was not disrupted. That’s why the advantage is held by the bears at the moment. The downward rebound has achieved its minimal target. The upward movement is of a larger scale than the previous correction. Because the minimal rebound has been fulfilled and the structure of the downward trend was not disrupted at the....