Bitcoin Price Shows Market Caution
Bitcoin price has lost direction. Ordinarily, this kind of price action can be described as merely corrective, but the chart shows several months of lower lows and, now again, a lower high. Price action seems conflicted, as the bulls managed a general push higher over the past few days, but long candle wicks to the downside betray the presence of the bears. The indicators give no clear signal of the next likely price move, as both RSI (second from top) and MACD (immediately above price) hold to the middle of their ranges. A bullish sign would be for the market to trade price above the 4hr....
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A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management....
Readers of the weekend update article will no doubt now understand why I said that I was going to pocket my gains in bitcoin at the $715 point. To recap, this is what the daily chart looks like: I pointed out that as of Saturday night, pricetime was bumping up against 4th arc resistance. While 4th arcs do not typically stop strong advances such as this one cold (but NEVER say never), they quite often slow advances down with a pullback. So it was that I suggested that it was a good time to pocket the $80/coin we had made since we called the start of the advance at the end of the 3rd square.....
The FMA in Austria has advised people to take extreme caution when it comes to investing in cryptocurrency related schemes. Austrian finance watchdog Financial Market Authority (FMA) is a bit late to the game. The regulatory body has issued a warning against the use of virtual currencies, including Bitcoin. The latest warning is similar to the words of caution used by various central banks and government institutions across the world. While rest of the regulatory and governance bodies issued the warning way back in 2014, FMA has decided to do at a time when Bitcoin is gaining popularity....
Bitcoin trading is approaching the coming week with caution and fortunately the chart provides us with some technical indications of what to expect before committing money to the market. 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 Trading and Price Analysis. Time of analysis: 11h30 UTC. BTCC 1-Hour Chart. From the analysis pages of xbt.social, earlier today: It's easy to see things in the chart after a major move and the mind will suggest that another similar move....
Analysts caution against a potential “buy the rumor, sell the news” pullback for ETH while historical data shows that the price tends to rise following major network upgrades. Ethereum advocates are bubbling with anticipation over the upcoming London hardfork which is scheduled to take place at block height 12,965,000 on Aug. 5.Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether rallied from a low at $2,450 in the early hours on August 4 to an intraday high at $2,772 for an 8.2% gain on the day.ETH/USDT 4-hour chart. Source: TradingViewOne of the most common....