Daily Bitcoin Price Analysis: Sideways Trend Goes In The Upward Direction
Yesterday, December 29, the price of Bitcoin moved to $430. Against the low liquidity on the market, investors are cautious and waiting for better conditions to make deals. Obviously, investors agreed that the parity price of Bitcoin will remain at $440 until the end of the week and the year. Vishal Gupta, the Founder of Bitcoin Alliance India, CEO at SearchTrade, and Director at Moving Trumpet, agrees with this statement. Speaking about the Bitcoin price he said that the price will hover between $410 and $440 till the end of the weekend. Today, December 30, we expect low volatility and a....
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Bitcoin continues its medium-term upward movement. The next significant target is the long-term level of $445, where the market could potentially choose a new direction. What level will be critical for the current upward trend? Bitcoin’s price has broken through the important resistance of $430.5, fortified above it and formed a trend. The fact that the price held at that level has indicated that the advantage was with the bulls. The upward trend will continue if its structure is not disrupted. The next-to-last rebound towards the medium-term upward trend will be exactly the point where....
Yesterday's speech by ECB President Mario Draghi had no influence on the Bitcoin price. However, cryptocurrency traders still haven’t decided on an exchange trend direction, so the pair BTC/USD continues its sideways trend between the levels of $350 and $360. Shortly before the speech by ECB President, the US Dollar index (USDX) rose to the level of 100.58, which led the dollar on profit-taking and caused a rise on the Euro. Yesterday, Mario Draghi said that this period of abundance with regards to liquidity will be long. In addition, inflation forecasts for 2016 were revised to the....
Bitcoin’s price still undergoes a correction towards the medium-term upward trend. The graph is fluctuating between the two key resistance lines, and one of them will be the point where the market will choose a new direction. Will there be a turn to decline? Bitcoin’s price has stopped near an important resistance of $424-25 which is responsible for the structure of the upward trend. That level is the most likely one for the price to turn to decline. For the upward trend to continue, there has to be a confirmation of bulls holding the advantage. The $430.5 resistance is where the largest....
The minimal target of the upward trend has been reached. Bitcoin’s price is in rebound before a new push. What direction will Bitcoin choose? The upward trend didn’t follow through, but despite that, Bitcoin’s price has still reached its nearest target. The level of $418-19 was a peak of a bearish rebound within a larger scale trend. Movements like these are usually followed by a rebound towards the larger structure, which in our case has started at $403. The peak of that rebound is going to be around $410.5, where Bitcoin’s price may suddenly stop and pick a direction.