Bitcoin Price Watch; Support Finally Found?
Here's a look at what we are focusing on in the bitcoin price this morning. Yesterday evening, our primary focus in our bitcoin price analysis was to try and figure out whether price had finally found support, and – in turn – whether this meant we could set ourselves up for a medium-term reversal against the overarching downside trend. We noted that price couldn’t continue to decline indefinitely, and that at some point, markets would have to balance between buyers and sellers, and that chances are, this wouldn’t happen below previous levels – i.e. those from which price rocketed towards....
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After a volatile first half, Bitcoin price action has been grinding sideways, seeking to find some type of reliable support. Although there has yet to be a clear sign of a reversal, the top cryptocurrency by market cap might have finally found support at a ten-year-long trend line. Complicated Technical Analysis Or This One Simple Trend Line Trick? Technical analysis is the study of chart patterns, trading indicators, Japanese candlesticks, and other data points in an attempt to predict future price action. The very basis of most technical drawings and chart patterns begins with a simple....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s analysis, our primary focus was the finding of long-term support in the bitcoin price. We pointed out that it looked as though price had finally found some support, and that the upside we saw throughout yesterday afternoon, and the subsequent action in overnight trading, reinforced this thesis. We can’t be certain, of course, but it certainly looks that way. Our overarching bias, therefore, this morning, was to the upside. We didn’t really alter our strategy to reflect this bias (it’s not really....
Ethereum price after a lot of struggle finally established a support, and may trade higher once again if the bulls gain control. Key Highlights. Ethereum price after heavy losses this past week against the US Dollar found support below $10.00 and started recovering. There is a major support trend line formed on the daily chart (data feed via Kraken) of ETH/USD, which is acting as a barrier for the bears. As long as the price is above the trend line support, there is a chance of more gains in the near term. Ethereum Price Support. Ethereum price ETH after a downside move against the US....
Upside Breakout. Hourly Bitcoin Price on Bistamp with Fibs, Support/Resistance/Trend Lines and MACD. The trading range Bitcoin found itself mired in for the last few days has finally broken to the upside. After the fall from $1000 (Bitstamp rate), the Bitcoin price found strong support and bottomed around $800, as suggested in my last trading update. Bitcoin price then struggled to rise above the 38.2% Fib or $850 level. Now broken to the upside, this level will likely act as support as Bitcoin price currently falls to retest the breakout. The next immediate challenge is the 50% Fib, which....
Earlier this morning we published our pre-session bitcoin price watch piece. We suggested the levels to watch in the bitcoin price throughout today's European session, and pointed out that we had finally seen some action in the bitcoin market over the weekend, and that we would be looking to draw on this volatility to get in and out of the markets today. Action has now matured, and as we head into the Asian session this evening - what are the levels that we are watching tonight, and are we looking at a range bound, or breakout strategy going forward? Let's take a look. First, consider the....