Bitcoin Price: More Sideways
Bitcoin price is consolidating above $425 and 2800 CNY. Although the 4-hour chart is, technically, turning bearish there is no well defined xbt.social sell signal in either the 4-hour or 1-hour chart. Based on the two grey trendlines defining upper and lower range boundaries, we may get a period of sideways movement – ranging between the bottom boundary and the resistance ceiling. The first wave down from the 8th January high was complex. A typical B-wave then set up the price drop and the last wave down is not as complex as the first wave down from the 8 January high. For this reason....
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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....
Bitcoin price has drawn sideways around $450 (Bitstamp) for most of the day before making a rounded push higher. The decline may be over but additional price action is needed so soon after the strong upside reversal. The attached 15-minute chart shows price action since early May. A few chart annotations relating to previous analysis are visible, but today’s analysis focusses only on the drop since yesterday. It is unclear whether price has found support at the $450 level, and will now begin another slow push higher, or whether the sideways price action is setting up the next leg of....
Bitcoin price could continue to trade sideways as the Christmas holidays are approaching and volumes might be turned down. Bitcoin Price Key Highlights. Bitcoin price seems to be moving sideways recently, possibly establishing its range for the remainder of the year. Volatility has been subdued again after the FOMC statement led to a sharp rally for the dollar then a quick reversal. Bitcoin price found support around $765 and resistance at $795. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside. Bitcoin price....
Here's a look at what we are focusing on in the bitcoin price this evening. That’s another day out of the way in Europe, and despite what we said we’d be hoping for heading in to the session early morning, thing’s haven’t worked out that well. The bitcoin price seems to be stuck in a sort of sideways trading pattern right now, and it’s not even trading sideways at or near a key psychological level (say, a 00s). This means that we’re essentially stuck in a loop of up down, range bound action, until something happens to initiate a breakout. This something is almost always fundamental, and....
The bitcoin price did stay below $220 for a while today. Some big buy orders pushed the price back up and the BTC/USD is currently struggling to stay above the $220 level. Bitcoin price trailing sideways again. In the meantime, the volume has been slowly drying up as the trades executed in the last 24 hours didn't even surpass the $15m barrier. It's clear enough that the resistance at $220 wasn't strong enough to keep the price above this level. Some huge sell orders caused BTC/USD to trail sideways for several hours. More bearish activity is to be expected despite the few seemingly....