Bitcoin Price Analysis (Week of March 20th)
The plateaued movement of Bitcoin’s price can’t keep up for long. What outcome is to be expected for BTC/USD this week, and how should one go about catching the trend? The BTC/USD price has been staying between the two weekly resistance lines for the past week. This indicates an almost even distribution of power between the Bears and Bulls. However, at the end of the week, the sellers had the advantage. The buyers didn’t even have enough strength to break through the level of $422.
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Robocoin, a company based in Los Angles, has announced that they will be debuting their new bi-directionalBTC ATM in California on march 20th, 2014 at the . This ATM will be the first of its kind for California that allows users to exchange Bitcoin both ways, they can buy or sell at a single location. This is huge for the Cryptocurrency! With this ATM, people with no cash or credit card can simply carry around paper wallets for Bitcoin and cash them out for actual cash if they need it. This ATM creates an exchange that has a physical location, users will no longer have to go through an....
In late March/early April, the bitcoin futures basis had mounted an impressive recovery that pushed sentiment back into the positive. This had come after months of a declining futures basis, so this recovery was a welcome development in the market. This would prove to be short-lived, however, as the futures basis had taken a sharp nosedive in mid-April. Now, it is falling towards one-year lows, leaving in its wake a trail of wary investors. Nearing One-Year Lows Bitcoin’s drop back into the $30,000 has had a profound impact on the futures basis. As investor sentiment had turned largely....
Bitcoin price is progressively creeping lower into compounding reverse divergence. Market sellers have been attempting to pull price below $221 and 1375 CNY all day without success. 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 Price Analysis. Time of analysis: 17h41 UTC. BTC-China 1-Hour Chart. Also Read: Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: Similar cases of reverse divergence have been highlighted....
Litecoin price remained around the $2.00 level throughout today's trading sessions. Litecoin traded midway between the 23.6% and 38.2% Fibonacci retracement levels, during most of today's sessions, as per the trend line we spotted through our analysis on the 10th of March. By studying the 4 hour Bitfinex (LTC/USD) chart from tradingview.com, plotting the William's Alligator indicator and keeping the Fibonacci retracement levels we plotted on the 10th of March (look at the below chart), we can conclude the following: On the 10th of March, litecoin price rose to test the 23.6% Fibonacci....
The bitcoin price has continued to build on recent gains, adding $15 over the last week. This represents a 6% increase over the opening price on 2nd March, according to the CoinDesk Bitcoin Price Index. The week's biggest intra-day price swing happened early in the week, when bitcoin hit a high of $286.28, representing a gain of $19.24 from the day's low. Trading sessions ended in positive territory on four consecutive days, from the end of the previous week and into the first days of the week just passed. Some $50 separated the daily low at the start of the sessions and the high at the....