Bitcoin Price Analysis: Too Fast, Too Furious, Consolidation Needed (Week of July 13)
BTC price at press time: US$285. Last week’s price alert began with: “Price had been consolidating above the 50 & 100 day EMAs for some time after breaking above them, which was a bullish sign. Now price is right up against resistance at the 200 day EMA (~US$271) and looking to break above it. Doing this should pave the road for a test of the US$300 area. Something else bullish is also occurring. The 50 & 100 day EMAs are about to make a bullish crossover. This is what one wants to see if a real bullish picture is to emerge. Right now, the 200 day EMA is above the 100 day, which is above....
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The multi-day downside reverse divergence highlighted in yesterday's analysis won out, and a Bitcoin price corrective wave low was struck. Price has now advanced impulsively above both the 1-hour and 4-hour 200MAs and the outlook is very bullish, but a consolidation below $240 and 1480 CNY has the market in two minds. 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 Value and Price Analysis. Time of analysis: 12h37 UTC. Bitfinex 15-Minute Chart. Why The Preference For....
Last week's rally had been fast and furious, with a lot of burning rubber and little chart distance. As quickly as it had completed the last push toward $300, it gave up almost half of the progress in a sell-off. The bulls have cooled down somewhat and are now looking for shelter further down the hill. 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: 15h42 UTC. BTC-China 1-Hour Chart. From the analysis pages of xbt.social, earlier today:....
BTC price at press time: US$271.39. The fiestas of San Fermin are celebrated in Pamplona, Spain every year from July 6-14. The event has become internationally renowned because of the running of the bulls, where the bulls try to gore wanna-be matadors through the streets of the city's old quarter. Meanwhile, Bitcoin, too, is experiencing a bull run and as of this writing has broken through the 200 day EMA, the last big hurdle in its way. “The price reached a high of ~US$252 and has now come down to ~US$249 and thus far the price has been consolidating above these two moving averages, which....
Bitcoin price decline is on the cards again and, with it, the question: "Where will it end?" A week ago, the market-wide sense had been that a consolidation similar to late-May's pre-launch contraction was developing - only to shatter at the last moment. The analysis below (Bitstamp charts throughout) outlines target levels to the downside and considers a wave pattern analysis as pointer to where the market might be heading. Update - Wednesday 30 July. Price has made a new low at $560 by throwing under the purple channel and immediately jumping back inside it. A new channel (blue) has....
Bitcoin price continues trading into a narrowing range and the market seems to have foregone decline in favor of consolidation. The consolidation floor and expectations going forward are discussed below. Yesterday’s analysis stated that, barring a bullish resurgence, the 1-hour chart stochastics imply bearish bias. The hope was expressed that, if decline sets in, it will be contained above $500. Well, today’s chart saw price decline according to the stochastic indication and, additionally, it appears that the correction since the June high has reached a consolidation floor at Bitstamp $600....