Bitcoin Price: Ready to Rally?
The Channel Low. In my previousCryptoCoaster video, I forecast that an extreme negative case would see Bitcoin price reach the long-term channel low. The following weekly logarithmic chart shows that this scenario has played out with some precision, the channel low and previous double bottom were a likely point for reversal: Weekly logarithmic chart showing Fibonacci channel and support. The Gox Bitcoin price is now history. While I considered such a move unlikely, this was before the fatal nature of Mt. Gox's situation came to light. I'd long considered Gox to be sketchy and tried to....
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Bitcoin price is gearing up for a strong break of the $600 level, determining if longer-term gains are in the cards. Bitcoin Price Key Highlights Bitcoin price staged such a strong rally on Friday that it’s ready to attempt a break past the latest highs at $600. If this area holds as resistance, bitcoin price could retreat towards support at $550. On the other hand, a move past $600 could put it on track to test the record highs at $1,200. Technical Indicators Signals The 100 SMA is still above the 200 SMA somewhat after nearly making a downward crossover late last week. This signals that....
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IMX price could be ready for a short-term relief rally as price breaks out from the downtrend, creating more bullish sentiment for a recovery. IMX looks strong on both low and high timeframes. The price of IMX breaks out on the daily timeframe after forming a descending triangle. ImmutableX (IMX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $1.3. Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. With so much belief in Uptober, as many....
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Litecoin Price Key Highlights. Litecoin price has suffered a quick selloff recently and has since showed signs of a pullback. Price appears to be finding resistance at the 50% Fibonacci retracement level around 3.250 and might be ready to resume its drop. If the correction wave for litecoin price is done, the impulse wave could take price down to the previous lows at 3.050 or much lower. Technical Indicators Favor Downtrend. Apart from the inflection points already keeping gains in check, leading and lagging indicators suggest that litecoin price is ready to head back south. The 100 SMA is....