Bitcoin Price Advance Challenging Resistance at $235
Bitcoin Price is showing signs of advance and has begun an assault on a long-term trendline that has both supported and resisted price moves since November last year. The move is expected, as has been outlined in these analysis articles during the week. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 13h10 UTC. Bitfinex 15-Minute Chart. The following analysis is quoted from the pages of xbt.social earlier today: The 15-minute chart has price bouncing on its 200MA (red) - piercing it, yet, not declining....
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Bitcoin price achieved $450 (Bitstamp) and 2900 CNY (BTCC) overnight. Since then price has entered a pullback that appears incomplete at the time of writing. A strange advance that is not yet surging above the long-term resistance it has just broken (grey trendline). The expectation was that the slow push higher would turn parabolic on the successful push through resistance at $430 (Bitstamp). In the 4-hour timeframe, RSI is reverse diverging to the December high and the advance must now push through a supply level that has been in effect since November of last year. Although the slow....
Bitcoin price has returned to its recent resistance ceiling where large sell orders have halted additional advance. As remarked yesterday, a bullish 15-minute chart condition had catapulted price higher, but profit taking at the resistance ceiling near $460 and $3030 has prevented additional advance. With price trading above its 1-hour 200MA and a bullish cross-over of the 20MA to above the 200MA, there is a high probability that the advance may continue, but let’s wait to see price break the resistance ceiling before making a bet on such an outcome. Bitcoin price has risen to near its....
Bitcoin price has been traded through resistance – an initial sign of a larger wave of advance. A few cautions remain as we await additional confirmation that resistance has become support. A terrific wave of advance has breached the upper boundary of the resistance ceiling and, at the time of writing, there is profit-taking just below $480 (Bitstamp), $500 (OKCoin Futures) and 3000 CNY. Last year’s November high remains as the final frontier to a new high 18-month high. The indicators are severely overbought – and diverging – at all timeframes below 4-hour, but this is often the case....
Bitcoin price pushed to a new high at resistance today, and we have to ask: Why another high when your bitcoins are fundamentally threatened? Another wave higher and this time to resistance in the rest of the charts, besides Bitstamp. Before today, Huobi was leading the blind CNY buying, then at 0400 UTC, suddenly, OKCoin CNY was leading the market. Meanwhile, whoever has been painting the untradeable price blur at BTC-e started buying price to $431 on every dip lower. If this was any other Bitcoin price advance, the reasonable conclusion would be that price is advancing. However, the....
Bitcoin price fell back from resistance ceiling earlier today as large sell orders loom overhead. As per the past two days of market action, an early-day bullish 15-minute chart condition catapults price higher, and then profit taking at the resistance ceiling near $460 and $3030 pulls price back to support. Bitcoin price has fallen away from its previous highs, but only moderately. The move may be part of a larger consolidation, but if price can hold above the 1-hour 200MA then advance to a new high is possible. The alternative, below the 1-hour 200MA, is that price returns to the $430s....