Bitcoin Price Analysis: Week of Feb 9 (Tough Decisions)
Last Week we concluded with the following: We remain bullish across all time frames though the long-term view is not as strong as last week. We are keeping an eye on the US$210-220 zone to be our turn to represent step #2 of a trend change but it is very premature to make the call and requires weeks of confirmation. However, it is reasonable to begin establishing bullish positions because the risk-reward ratio is really good, picking up bitcoins in the US$220-235 zone for a short-term move back to US$250 or a longer-term goal above US$300. The risk is very small as a move down to the low....
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Bitcoin price has advanced above the Fib line that has served as the pivot for consolidation during the past week. During the Asian session, price tagged the 4-hour 200-period moving average and looks set to continue the journey north after a corrective price wave has completed. 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: 12h46 UTC. OKcoin 4-Hour Chart. Also Read: Why The Preference For BTC-China Charts In Analysis? From the....
Many times, our readers ask why we use technical analysis for a volatile asset such as Bitcoin. There have been several instances when my price predictions based on technical analysis have gone horribly wrong. But I must admit that it is not exactly a cakewalk to anticipate the future price movements of a security which is yet to be tagged as ‘stable.’ In this article, I will discuss all the factors that deeply affect the action in Bitcoin markets, and why trading with technicals is a tough job for price analysts. China Drives the Bitcoin Market – In March 2015, Goldman Sachs revealed in a....
Ethereum price is finding it very tough to break a bearish trend line on the hourly chart. Let us see whether ETH can succeed in breaking it or not. Key Highlights. Ethereum price is struggling a lot against the US Dollar, as it is facing a major resistance on the upside. The bearish trend line I have been following this week on the hourly chart (data feed via Kraken) of ETH/USD is acting as a tough resistance for the bulls. The price is also finding offers near the 100 hourly simple moving average, positioned around the same trend line. Ethereum Price Trend Line Resistance. Ethereum price....
Here's a look at what we are focusing on in the bitcoin price this evening. That’s the end of the week, and what a week it’s been. We’ve seen a whole lot of action in he bitcoin price – something that has been sorely lacking over the last few months – and we’ve had the opportunity to get in and out of the markets according to our intraday strategy on numerous occasions. We are net up on the market, and look set to head into the weekend with a decent profit on the books. Things weren’t overly volatile today, which limited our entry options, but it also meant we didn’t have to get in to any....
Ethereum price has witnessed a tough time lately, the altcoin logged heavy losses over the past one week. Broader market weakness could be blamed for the coin’s current price momentum. Bitcoin slid on its chart and was trading at $21,000 at the time of writing. Other altcoin also depreciated following BTC’s price action. Over the last 24 hours, Ethereum price fell by 4%. It has been a consistent downtrend after the coin lost the $2,000 price mark. The technical outlook for Ethereum price was also bearish as sellers had taken over at the time of writing. If selling momentum....