Has Bitcoin Price Found Support At A Decade-Long Trend Line?
After a volatile first half, Bitcoin price action has been grinding sideways, seeking to find some type of reliable support. Although there has yet to be a clear sign of a reversal, the top cryptocurrency by market cap might have finally found support at a ten-year-long trend line. Complicated Technical Analysis Or This One Simple Trend Line Trick? Technical analysis is the study of chart patterns, trading indicators, Japanese candlesticks, and other data points in an attempt to predict future price action. The very basis of most technical drawings and chart patterns begins with a simple....
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The masses are bearish on Bitcoin. The market is convinced that prices below $30,000 will be revisited given the continued weakness in the top cryptocurrency by market cap. All eyes are on the massive “bear flag,” but could it instead be a bear trap? Bitcoin price continues to grind along a decade long parabolic trend line that in the past has put in several mid- to long-term bottoms. Here is a closer look at a currently unbroken trend line that BTCUSD must hold for continued parabolic momentum and what it could mean if we get a bounce from here. Unbroken Decade-Long Parabolic....
Ethereum price after a lot of struggle finally established a support, and may trade higher once again if the bulls gain control. Key Highlights. Ethereum price after heavy losses this past week against the US Dollar found support below $10.00 and started recovering. There is a major support trend line formed on the daily chart (data feed via Kraken) of ETH/USD, which is acting as a barrier for the bears. As long as the price is above the trend line support, there is a chance of more gains in the near term. Ethereum Price Support. Ethereum price ETH after a downside move against the US....
Bitcoin price slow and steadily moved higher, but found sellers near $432. Moving ahead, buying dips in BTC/USD may be considered. Bitcoin price traded after trading lower towards the $410 level found support and started to move higher. There was a slow and steady downside move, and in the process of the upside move, there is a bullish trend line on the 4-hours chart (data feed from Bitstamp) of BTC/USD. The highlighted trend line and support area may play a major role for BTC/USD in the near term, and as long as the price is above it, there is a chance of more gains. The last two 4-hour....
Ethereum price after a minor correction against the US Dollar found support near a trend line and currently trading back higher. Key Highlights. ETH price moved down a few points versus the US Dollar, but found bids near a major support. This week’s highlighted bullish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD continued to act as a barrier for the sellers. The price is currently bouncing from the trend line support and looks set for more gains. Ethereum Price Upside Move. Ethereum price remained lower yesterday against the US Dollar until it found support near a....
Dash Price Key Highlights. Dash price failed to move lower, and found support around a critical trend line as highlighted in yesterday's analysis. The Double top pattern is still valid, as the price is below the resistance area. If there is a break above 0.0130BTC, then more gains are possible in the near term. Dash price acquiring bids around the bullish trend line is a positive sign for buyers looking ahead. Trend Line Proved Worth. Yesterday, we highlighted that there is a possibility of a double top pattern forming on the hourly chart which could result in a move lower. There was a....