Analysis: Bitcoin Price Stair-Stepping Down
Trade during yesterday's US session had pulled the Bitcoin price up towards the upper channel trendline, only to sell it off to near the day's low. The sense is that the bulls and the bears had spent themselves in yesterday's battle for control resulting in today's muted trade. However, a lot is at stake since the outcome of today's trading sessions will show the shape of things to come. The Bitstamp chart was sold back down to the low $460s without making a new low, whereas BTC-China's BTC/CNY price was traded to a marginal new low of 2,860 CNY. This is not a new decline low, but it did....
Related News
The Market traded a full retracement of the week's zigzagging advance. Weekend trade has pushed the Bitcoin price higher but is it shuffling to the edge of a cliff? 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: 15h29 UTC. BTC-China 1-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The similarities between the tops formed by the two price waves in the chart are....
Bitcoin price continues inside its two-month sideways consolidation range. This time we’re in for a price dip that should return to current price levels after a small descent. After making a rounded top yesterday, price declined toward the 1-hour 200-period moving average (200MA, red). The current declining pattern resembles previous initial waves into decline (circled in magenta) but lacks the amplitude of those formations. Bitcoin trading volume has been gradually declining since the start of 2016, and the decreased participation is reflected in the decreasing range of price motion in....
The overall balance on Coinbase, the publicly traded digital exchange, has dropped by about 36.6 percent in the last 24 months due to huge BTC outflows. Reports Shows BTC Exchange Supply Has Decreased The overall Bitcoin balance on Coinbase has reached roughly 650,000 coins, according to Glassnode, a notable on-chain analytics platform, compared to an all-time high of 1,025k BTC in April 2020. Coinbase’s balance has dropped by about 30k BTC in the last week. Since April 2020, bitcoin outflows from digital asset trading platforms have been increasing. In the last two years, the....
Acting Comptroller of the Currency Brian Brooks will be stepping down on Jan. 14, he confirmed Wednesday.
Jack Dorsey has shocked everyone when he announced on Monday that he would be stepping down as Twitter’s CEO. The long-time boss of the company which he had founded had herded it into new heights, making it one of the social media giants. However, it seemed his run had eventually come to an end when […]