Daily Bitcoin Price Analysis: Bitcoin’s Sideways Trend Continues and Ends
The exchange rates of Bitcoin vs. US. Dollar has been holding level between $440 - $460 a few days in a row. Positive macroeconomic indicators from the US and anincrease in interest rates to 0.50% led to a strengthening of the Dollar. However, Bitcoin’s price was unharmed. Today, the release of another piece of important economic data is also expected. The Dollar relative to other currencies will be further strengthened, while Bitcoin should continue its sideways trend to about $440 - $470 and begin to grow to the levels of $480 and $490. We can see an increase in the yield differential of....
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Bitcoin’s upward trend continues. Will this movement reach the $450 mark and set a new maximum? Will the price reach 450? Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up. If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if....
As we expected, the BTC/USD pair was moving in a sideways trend yesterday. Without reaching the first level of support at $340 the Bitcoin price rate began to rise to $365. However, while Bitcoin is overbought and the Dollar is strong, bulls don’t feel optimistic enough. The main price factor today is the publication of the European Central Bank decision on monetary policy followed by speech of ECB President, Mario Draghi. During the first moments of the speech we can expect a highly volatile price on the Euro, which can affect the Dollar’s exchange rate, and, by extension, Bitcoin’s.....
Bitcoin price has traded sideways for three days and according to the bitcoin chart's average true range, a tipping point is in sight. 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: 14h30 UTC. OKCoin 3Mth 1-Hour Chart. From the analysis pages of xbt.social, earlier today: No substantial change from yesterday, and the 1hr chart continues conforming to the indicator and MA conditions at the previous juncture circled in the chart. One....
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....
The powerful growth of Bitcoin’s price was followed by a sharp drop. That downward trend was natural. What explains the current drop? It was mentioned earlier that Bitcoin’s price has reached an important long-term resistance line. A new direction is usually chosen in such points, or, alternatively, an old trend continues with more power, but only after a rebound. What that means, is that there was a good chance for a drop, and it happened. The last confirmation was the disruption of the structure of the upward trend, a point where the drop finally took place. So far this short-term trend....