Bitcoin Price Direction: East By Northeast
The Bitcoin price is approaching the lower $400s again after hitting $450 following Tuesday's PayPal announcement. A familiar pattern is re-emerging in the chart, and direction remains sideways. Bitcoin Price Is Going... East. Trade has pulled the Bitcoin price back to the midway point between the lower orange support and the light blue dashed trendline that capped advance on Tuesday. Any tactical advantage of having climbed above both the 20-period and 200-period moving averages has been lost. Bitstamp Hourly Chart. Although the immediate BitFinex (right) orderbook bias indicates that....
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The Bitcoin Price has continued its East-by-Northeast trajectory into month-end before declining to retest week-long support near $400. The US Commodities Futures Trading Commission (CFTC) has announced that it will be holding a meeting on October 9 to discuss its jurisdiction in relation to Bitcoin. Update 13h00 UTC. Trade is continuously attempting the 100-period moving average from below in this 15-minute Bitstamp chart. Will it get through? The indicators imply not in the current wave: MACD is going into reverse divergence (which will force a downward correction) and RSI is showing the....
A proof of concept on a farm in Ireland demonstrates how bitcoin mining can create value from methane and carbon dioxide waste.
Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system. The six countries, which are all members of the East Africa Community (EAC) trading bloc, are hoping this alternative will create a pathway that leads to the attainment of “a single currency for the region by 2024.” The Moribund EAPS The revelations of the EAC’s digital currency plan follow the bloc secretariat’s “consultancy call for a feasibility study” on the planned upgrade of the East....
Ethereum’s price has stopped before choosing a direction. What is to be expected? Which direction will Ethereum pick? After bouncing off the $11.4 resistance, Ethereum’s price failed to hold at that level. The buyers were more numerous. The $11.4 level is important because it’s the most profitable price for the Bulls. If one compares the rebounds of the upward trend, that becomes easy to notice. Most traders make their decisions at points exactly like that.
The last month of winter started with an upward trend. That trend is over and it’s time for the market to decide on a new direction. Over February, Bitcoin’s price has grown by more than 16% and stopped at around $447 per bitcoin. The start of Spring marks the beginning of a new cycle on the BTC/USD graph. Bitcoin’s price has stopped at a point where one cycle is changed by another, more significant one. Change of Bitcoin price trend direction. As a rule of thumb, such points precede a change of direction and a return to previous levels. There is a good possibility of a decline towards the....