Bitcoin Value, Bitcoin Price Decline on Hold

Bitcoin Value, Bitcoin Price Decline on Hold

Bitcoin Price is trading below, but remaining close to, critical support currently rising near $280. Bitcoin Value Analysis. Time of analysis: 15h00 UTC. BTC-China 4-Hour Chart. The longer-term 4-hour chart shows price decisively below both the green 20MA (moving average), as well as the red 200MA. BitFinex 1-Hour Chart. Due to an outage, the Bitstamp chart is missing some of the past week's price action. The BitFinex chart is presented instead. Dropping back into the clear diagonal Fib channel implies that price will target the lower channel line near $220-$230. There is nothing in the....

Related News

Bitcoin Price Analysis: Sideways Then Down

Bitcoin price toys with gravity after a non-committal Fed rates hold. Few large players, who have little perceived need for Bitcoin’s features, have any reason to hold a slumping commodity while stocks push to new highs. The outlook remains the same as yesterday: the 1day and 3day charts are bearish, and we anticipate decline. The 4hr candle chart MACD remains below zero. The proposal is that the market is denying decline with irrational psychology, but without institutional (whale) support. Hence, a sideways corrective pattern is forming until the sell-off below $640 kicks in. $640....

TA: Short-Term Bearish? Why Bitcoin Price Could Struggle Above $57.5k

Bitcoin price extended its decline and tested the $55,500 support against the US Dollar. BTC is now recovering, but it is likely to face a strong resistance near the $57,500 level. Bitcoin failed to hold the $57,000 zone and extended its decline towards the $55,500 level. The price is now trading well below the $57,500 […]

Bitcoin Price Watch; Decline, Reversal On The Cards?

Here's a look at what we are focusing on in the bitcoin price this evening. We’re big advocates of bitcoin (I guess that goes without saying) and so when price moves as part of a steep decline, it hurts a little. We’ve all got holdings, and these holdings take a hit when the bitcoin price dips. That said, when you trade intraday as we do, a decline is neither positive nor negative, it’s just volatility. We like volatility, and we can take advantage of it if we set up right. In this instance, we set up right, and despite price collapsing from the high 700s to where it currently sits....

Bitcoin Price: Can Trade Hold $450?

Bitcoin price has drawn sideways around $450 (Bitstamp) for most of the day before making a rounded push higher. The decline may be over but additional price action is needed so soon after the strong upside reversal. The attached 15-minute chart shows price action since early May. A few chart annotations relating to previous analysis are visible, but today’s analysis focusses only on the drop since yesterday. It is unclear whether price has found support at the $450 level, and will now begin another slow push higher, or whether the sideways price action is setting up the next leg of....

Bitcoin Price In Narrowing Trading Range

Bitcoin price continues drawing sideways in a narrowing range. Will it return to decline? A test of the Fib line just below price (near $370 and 2530 CNY) should be the next market undertaking, and failure of this support should open up any remaining decline in the downtrend since December. If the market can hold the current price level and then advance to a new local high, we could see some light at the end of the tunnel, but there is not yet any evidence that a final low has been struck.