Bitcoin Price Analysis (Week of May 22th)
Bitcoin is moving toward the target of the long-term correction within the upward trend. The ending of that rebound could provoke a continuation of the long-term trend and a turn to decline. When will the current rebound end? Bitcoin’s price is fulfilling its minimal correction targets at around $440. As there was no turn to decline on a long-term scope, the downward movement is limited. One confirmation of that is the stop around $440. A change of cycles usually happens at points like that. Now the market has to decide whether to continue its long-term trend or form a turn to decline. The....
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Altcoin prices have stopped at their respective key levels, after moving along upward trends. Such stops could provoke prolonged downward corrections. ETH/USD. Ethereum has continued its upward trend. A turn at a key level of $9.7 did not happen. Thus, Ethereum’s price has formed a powerful upward momentum, reaching the maximum of March. At this point, a flat is forming. For a deeper correction to continue, Ethereum’s price has to exit that flat. The market will decide on the direction of the next wave at the level of $12.9. Either the whole downward movement is a correction toward the....
The bulls prevent Ethereum’s price from falling. Their active support could provoke the bears into giving up on their positions and thus leading to Ethereum’s growth. How long will this sideway movement continue? Ethereum’s price is forming a flat between two important resistance lines. The bulls’ support is clear at $10. The volume has accumulated at exactly that level, from which Ethereum’s price has been rebounding and moving up. The same can be said about the $14 mark. A similar situation is present at that level, albeit it favors the bears. They are not allowing Ethereum to grow by....
This week has been interesting has been full of surprises to say the least. From January 13th to January 15th Bitcoin dropped from a weight priced of 264.35 on Bitstamp to a weighted price of 178.83 exactly 48 hours later. Equivalent to around a 32.4% drop in price in only just two days, it was a reminder that Bitcoin is still a young and volatile currency. While the price has gone back up a little bit (price of Bitcoin is at $210.58), Bitcoin is still down 22.21% this week, as of January 18th. Most if not all cryptocurrencies went down with the main exception being Nushares, which is up....
Bitcoin price has just scored a high of $412.41 on Bitstamp less than an hour ago. As we predicted yesterday, the new bullish wave is continuing to control the market and is pushing bitcoin price steadily towards the next resistance level at $416. Predicting Possible Price Correction Thresholds: Via studying the 1 hour (BTC/USD) from Bitstamp (look at the below chart), plotting the 20, 50 and 100 EMAs and executing a Fibonacci resistance fan that spans between the low scored on the 22th of October ($266) and the high scored earlier today ($412.41), we can notice the following: The price is....
xbt.social analysis has been biased to a decline below $240 for the past week. Yesterday, Bitcoin price dipped below this important support level twice before retreating again this morning. Following a pullback, it is anticipated that the market will return price to this level - a break below it implying decline to at least $235. Readers are alerted to a new analysis update schedule: starting today, daily Bitcoin price analysis will be published at the start of the day (UTC). Articles will be updated with major market events, during the course of the day, where appropriate. This analysis....