Bitcoin Price Technical Analysis for 12/10/2015 - A Strong Start to the Week!
Bitcoin has started this week on a very strong note as it raced higher to $247.53, on course to its highest closing in over a month. In the previous Bitcoin price technical analysis Mixed Technicals, we discussed how a couple of technical indicators were showing divergences from the other two. Well, currently, all of them are displaying much stronger readings. Bitcoin is trading at $247.53, after hitting a monthly high of $248.50. Even though Bitcoin is in a strong uptrend, let us review the latest technical indications to look for factors that may hamper the bullish mood. Bitcoin Chart....
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Bitcoin has been consolidating since the end of last week after it tagged the 236 handle. BTCUSD rebounded from 236 to about the 255-256 area before stalling. Over the weekend and at the start of the week, we saw the cryptocurrency slide back towards that 236 low, but respecting it as support again. The 1H chart shows the strong rebound from the support area, which sets up a potential double bottom. Bitcoin (BTCUSD) 1H Chart 1/4/2015. In the 1H chart we can see that before a double bottom is complete, price action has some slight bearish bias. Indeed before this possible double bottom,....
Bitcoin prices were mainly unchanged early in Friday’s session, as traders prepared for the weekend. Following a strong start to the week, crypto prices have mostly consolidated in recent days. ETH was once again trading close to support at $1,750.
Bitcoin
Following a strong start to the week which saw BTC hit a high of almost $32,000, prices have since consolidated, trading slightly below $30,000.
So far into Friday’s session, BTC was once again lower, as it continued to trade under this level, and has hit an intraday low of $29,732.91 in the....
Despite a strong start to the week, bitcoin fell below $30,000 on Thursday, as crypto bears returned to action. Following an uncertain day of trading yesterday, bearish momentum has taken charge of markets, with ETH also in the red. Bitcoin Following a strong start to the month, BTC fell lower, dropping below $30,000 on the second day of June. Bitcoin rallied to a nearly three-week high earlier this week, however on Thursday fell to an intraday low of $29,501.59. This drop comes less than 24 hours after BTC/USD hit a high of $31,848.82. However, as we approach tomorrow’s NFP report,....
Litecoin bulls seem to be facing a strong supply pressure near $1.80. Even though the price has rebounded from a six-week low of $1.60 to the current $1.79, I still believe that this is a seller's market, and that rallies should be used to exit long positions and initiate fresh shorting. As can be seen, I have used a 240-minute LTC/USD price chart and applied multiple technical indicators as well as marked key technical resistance levels. Interestingly, they all point to one thing: Exit on Rise. Technical Resistances: Litecoin is now struggling near Resistance Line 1 (marked above). The....
Bitcoin has crossed the crucial resistance mentioned in A Breakout Everybody's Waiting For!, rising roughly 1.54% to trade at $235.75. The price appreciation has also led to overbought valuation for Bitcoin which might face stiff resistance from the next supply region at around $238. So, should you be buying Bitcoin now or not? Let's find out in the technical analysis below! Technical analysis of the above presented 240-minute BTC/USD price chart indicates that bulls have complete control over the situation and that Bitcoin is a pure buy-on-dips play. Bitcoin Chart Structure - After....