Bitcoin Price Bounces Off Long-Term Support
Bitcoin Price has risen to long-term support from Sunday's lows in what appears to be an impulsive wave structure. There is no conclusive evidence that advance has begun and the trading survivalist's best tactic at this time is to be patiently safe rather than sorry and out-of-pocket. Bitcoin Price Analysis. Time of analysis: 13h00 UTC. Bitstamp 15-Minute Chart. The 15-minute Bitstamp chart shows the past week's price action in detail. Yesterday (Sunday) price had dropped through long-term support (solid red trendline) and crisscrossed the level of the April 2013 high at $261. Today's....
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Uniswap’s UNI token has been slowly grinding lower over the past few days, with buyers being unable to gain control over its short-term trend as the hype surrounding the token’s launch begins fading. That being said, UNI’s buyers are now moving to establish its recent lows as a long-term base of support, as it has […]
In the past few days, we advised traders to consider taking profits ~$344. It turns out that the magic number was a few dollars shy of that figure ($338). We also suggested that when the next pullback occurred we could possibly get a test of the long term support line. As I am writing these words, price has touched that support line. For now at least, that support is holding. See the 3-day chart below. As long as we do not get a close below that support line I will remain medium-term bullish. I continue to expect that the market will rise as soon as the price passes through the 2nd arc....
So last night we published our twice-daily bitcoin price and highlighted what we will be looking at throughout the Asian session during Thursday evening. The main topic of conversation was the overarching bearish decline we have seen the bitcoin price over the last few days, and the suggestion that - if we broke in term support - this decline could well continue as we head into the weekend. As it happens, we did get a bit further decline, but during pre-session Friday morning, we have had a little bit of reprieve. So, with this said, what of levels that we are keeping an eye on in the....
The upward Bitcoin trend failed to grow into a larger-scale movement. There was no support at the long-term level, and a natural fall followed. Will the upward trend continue? After reaching the key long-term level, the market had to decide: either to form a long-term upward trend or a downward correction. The price would undergo a significant increase in case of a long-term upward trend, but there was no support for that scenario. A downward turn has formed in the short-term scale, which broke the upward trend. After the price has formed a downward correction, two key levels have....
Bitcoin Price Key Highlights. Bitcoin price is still on the decline, with the corrective wave from the previous price rally not yet completed. A rising trend line can be drawn connecting the recent lows of bitcoin price action since the start of this year. Bitcoin price might make it all the way down to test the long-term rising trend line support before showing a bounce or resuming its climb. Dynamic Support at SMAs. The rising trend line could serve as the line in the sand for any corrective moves off the long-term uptrend, as a break below this level could send bitcoin price in a free....