Bitcoin Analysis: Week of Jan 11 (Tough Times)
Last Week we concluded with the following: It is impossible to say at this moment whether the US$255 low will be it for the year, but it sure does not feel like it. The US$275 low in October had a stronger reversal so most likely we will see lower lows in the very near future. For the time being however, this oversold condition needs to be relieved so a bounce here back to US$300, US$315 (point of the breakdown) and even US$330 (50-day SMA) is the most likely outcome. “Bitcoin will see exponential adoption once the sovereign debt bubble pops. Look for signs coming out of Europe towards the....
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A positive outlook can be tough during the throes of a bear maer. Community is just one important thing that helps get Bitcoiners through tough times.
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....
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....
Bitcoin Price is being traded through a tough resistance zone via a slow and steady ascent. Buyers are seemingly entering the market while those already holding long positions, from lower down, refrain from taking profit in the hope of higher highs. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 15h10 UTC. Bitfinex 1-Hour Chart. Analysis quoted from xbt.social earlier today: Price is bulldozing its way through resistance and has cleared the Fib line that has served as both support and....
XRP price slows down after several days as price remains bullish despite showing weakness. XRP trades above 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs with the emergence of bearish divergence. The price of XRP continues to hold strong and could retest $0.42 support. The price of Ripple (XRP) continues to hold strong as the price aims to maintain its bullish price movement against tether (USDT). Ripple (XRP) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the....