Bitcoin’s Price Is Ready For a Turn to Growth

Bitcoin’s price is still undergoing a medium-term downward correction. A turn to growth didn’t happen, which means that there is a possibility of the price dropping to the next level. Where might the current correction end? Bitcoin’s price has not reached its top key level. After forming a micro-flat, it has continued its fall. Thus, a new resistance line has formed at $454. The length of the current correction depends on the moment when the advantage will go from the bears to the bulls. Bitcoin’s price has reached a key level at $445, and now there will be either a turn or a downward....

Ethereum’s price is fortifying at a key level. That is the first signal of a turn to growth. Will the upward trend continue? What needs to happen for a turn to growth? A fortification at key bear level indicates the lack of demand. The bulls are holding the advantage. If this continues and Ethereum’s price starts forming a turn to growth, there will be a high probability of larger scale correction towards the next target of $11.1 - $11.2. If, however, the bulls win the advantage, the $10.2 mark will become a key resistance line. A fortification and formation of a turn at it will most....

The Spring has ended with Bitcoin exiting a flat, which has been there for more six months. Will that cause a continued long-term growth, or was it a false breakthrough? The long-term upward trend is continuing. After fortifying at the top limit of the long-term flat, Bitcoin’s price underwent a powerful upward impulse. Such movements usually appear when one of the development scenarios becomes unrealistic. A turn was needed around $450, in order for the long-term flat to continue. In that case, Bitcoin’s price would fall to the bottom limit of the flat, around $360-90. A turn to decline....

Ethereum’s price has carried out one of the trend development scenarios. The downward trend continues. What level will prove critical for this trend? Ethereum’s market has picked a downward scenario, discarding the possibility of forming a turn to growth. Despite the price fortifying at a level profitable for the bears, the bulls have failed to hold the advantage, and thus there was no turn to growth. The short-term downward trend will continue, as long as the advantage stays with the bears. The most likely point for a turn to growth is at $10.3, where a lot of trading volume converges.....

Bitcoin has reached a resistance line, where a turn to growth can form. Will the downward correction end now? Will there be a turn to growth? After reaching the limit of the flat, the majority of traders enter the game and bet on a drop. Thus, either Bitcoin’s price rebounds or a fortification begins. A fortification is a signal for a turn, when a price does not return to the opposit limit, but rather undergoes a correction. In case of a fortification, it’s plausible to assume that the advantage is with the bulls, but there’s still potential for one more confirmation in the form of a....