Has an Upward Trend Started on the Bitcoin Market?
Bitcoin’s price has broken through the top resistance line. Will the buyers have enough confidence to keep the growth trend? After a new false break through the level of $417, Bitcoin’s price has bounced off without fortifying. However, the advantage was held by the buyers and the price returned to the top point. The price has displayed fortification in the mid-day structure and a natural growth impulse followed. If the structure of the growth trend stays intact in the near future, there is a probability of the price reaching $422. The trend’s potential is not very high, because 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....
Different kinds of altcoin trends can be a reason for a flat forming on the USD market. The dollar’s trend has reached its minimal long-term targets. The choice of a new long-term direction is underway as a result. Will the growth continue? Ethereum’s upward trend has ended with a powerful drop. Disrupting the structure of its trend at the level of $19, Ethereum’s price was not able to hold there, for a continued upward movement. The $19 mark was responsible for the structure of the entire upward trend which started at $14. That’s why a turn to decline at that point was able to provoke....
Ethereum’s price is at a level where the following medium-term direction is going to be decided. What trend will the market choose? Ethereum’s price has stopped at an important medium-term resistance of $10. The future trend depends on which side of the market will be holding the advantage. That will be indicated by the market’s structure. The most likely scenario is that Ethereum’s price will not fortify and fail to form a turn to decline at the level of $8.6, which is important for the bears; that will result in the continuation of the upward trend and the increased probability of a turn....
After a sharp drop, Bitcoin has reached a key point, from where the medium-term trend could continue. What is necessary for that continuation? Will the upward trend continue? The short-term downward trend was just a correction towards the upward trend. That’s why there was a rebound and the upward trend still has momentum. For the upward trend scenario to become as likely as possible, two things need to happen. First, Bitcoin’s price has to fortify at the level of $450 and form a turn. Second, the market has to avoid a downward scenario with a fortification and a turn at the level of $446.....
ETH/USD. Ethereum’s price is at the level of convergence for large trading volumes. The current price is the most profitable for the bulls. Usually it is in points like this one, where the market chooses the future trend. That happens, because the demand outweighs the supply: obviously, everyone wants to win. If Ethereum’s price holds at the level of $11.5 and forms a turn to decline, there will be a good probability of a downward trend. But if the bulls hold that level, the current upward trend will continue, until at least the end of the rebound at $12. The key level for the upward....