Bitcoin Price Edging Lower
Bitcoin Price action seems to be seeing out 2014 doing what it's done best all year. The decline is, by now, extended to the point of disbelief, yet it shows no sign of letting up. We take a look at some technical chart features that may present targets lower down. Bitcoin Price Analysis. Time of analysis: 13h00 UTC. Bitstamp 4-Hour Chart. Unlike the initial version of this Bitstamp chart that has been examined since Saturday's analysis, the 4-hour chart below is not in log scale but vanilla arithmetic scale. Changing the scale causes price to change the scale in relation to the existing....
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Bitcoin price continues edging higher in strained advance. A pullback is due. We now have a valid MA buy signal in the 1hr chart (not shown), but the conditions outlined in yesterday’s analysis remain unfulfilled for a long entry. Price should pull back from the present overbought conditions in the 15min and 1hr charts, form a base and give us a clear MA buy signal in both these timeframes. The target will be the intersection of the 1.618 Fib extension and the overhead resistance ceiling near $435 (Bitstamp). Bitcoin price is heading upwards, but a reversal seems imminent. Wait for the....
Dogecoin price still continues to consolidate on its shorter-term time frames but zooming out to the longer-term chart reveals a downside bias. Looking at the daily chart of DOGE/BTC from Hitbtc shows that technical indicators also support a move lower for the dogecoin cryptocurrency against bitcoin: Price has been forming lower highs, reflecting a gradual buildup in selling pressure. Dogecoin price has also formed lower lows, which means that sellers are still trying to push the pair lower. Stochastic is moving between 60 to 40, just coming off the overbought area and indicating that....
Bitcoin price has, during the past three days, formed a series of lower highs and higher lows in a pattern that resembles the consolidation prior to a decline. There are technical indications that a pull lower is on the cards, but it may not get far. 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: 15h00 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitfinex 1-hour chart shows the decline since the....
Bitcoin price made a strong break below a long-term consolidation pattern last week but might need to pull back to the nearby areas of interest before resuming its drop to the previous lows or much lower. The 100 SMA is below the 200 SMA, confirming that the path of least resistance is to the downside and that further losses are likely. These moving averages also seem to be edging farther apart, indicating that bearish momentum is strengthening. However, RSI just climbed out of the oversold region, indicating that the recent selloff is already exhausted and that sellers are taking a break....
Bitcoin price could be on track to test its previous year highs at $500 now that an upside break from the triangle consolidation pattern took place. So far, technical indicators don’t seem to have caught up with the sudden upside break yet, although the moving averages are edging closer to make a potential upward crossover. For now, the 100 SMA is still below the 200 SMA and is close to the triangle support at $360. Meanwhile, stochastic is indicating overbought conditions at the 80.0 level and is starting to turn lower, suggesting that selling pressure might pick up. Similarly, RSI is....