Bitcoin Price Analysis: Week of Feb 2 (Trend Change Part II)
Last Week we concluded with the following: Last week we turned short term bullish, but thanks to the move being this strong, we are now turning bullish across all time frames. However, we acknowledge the fact that nothing moves up or down forever and are keeping an eye on a pull back to US$250 or perhaps even a bit lower. Because of the highflying action, it is not advisable to short this move even if prices do what we expect. As hard as it is to say, for those that missed this move up, chasing higher now is not a wise decision and neither is trying to guess the top of this news driven....
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BTC price at press time: US$243.25. The midweek price alert began with: “Bitcoin has finally broken above the noted 50-day Exponential Moving Average (EMA) at US$232 and done so with force. It now also sits above the 100 day EMA (~US$242) as well. It’s possible a change of trend could be underway, but it is still too early to tell. This move has been made on very small volume and On Balance Volume confirms this. If the trend is truly going to change, volume should ideally come in.” The price reached a high of ~$256 and has now come down to ~US$243 and thus far the price has been....
Ethereum price blasted higher this past week vs the USD, but it looks like a short term top is formed in ETH/USD around $14.88 level. Key Highlights. Ethereum price surged higher this past week vs the US Dollar and traded as high as $14.88 where it found sellers. I was expecting the price to test the $15.00 level, but it looks like there was a minor miss. There was a bullish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which was broken during the downside move. Ethereum Price – Down Move Likely? Ethereum price ETH was in an uptrend during the most part of this....
Key Highlights. Bitcoin price after trading as high as 320.00 moved lower and broke an important support area. The recent break in Bitcoin is calling for a trend change, which is likely to call for more losses. Bitcoin price looks like heading lower, as sellers managed to clear a couple of important support levels. There was a solid upside reaction recently in the Bitcoin price, but once the price tested 320.00 there was a downside reaction noted. The price declined heavily and shredded more than 10% gains to trade below 280.00. However, there is one more major support area building on the....
After having been continuously forming an upward trend, Bitcoin’s price has undergone a powerful downward impulse. Will that affect further growth? The short-term upward trend continues. A sharp change in the trend indicates that the majority of the bulls did not expect a continuation of the trend at that point. The structure of the price is not formed enough for medium-term growth. Currently, the price is going upwards, but it’s also near a medium-term level, which it may bounce off again. The critical rebound level is the price with the largest trading volume, which is $418.5. The upward....
BTC’s price attempted to break out of range before retesting underlying support. Is a trend change at hand, or will the price continue to consolidate? Welcome readers, and thanks for subscribing! The Altcoin Roundup newsletter is now authored by Cointelegraph’s resident newsletter writer Big Smokey. In the next few weeks, this newsletter will be renamed Crypto Market Musings, a weekly newsletter that provides ahead-of-the-curve analysis and tracks emerging trends in the crypto market. The publication date of the newsletter will remain the same, and the content will still place a heavy....