Bitcoin Price Technical Analysis 30/1/2015 - Hold, Hold, Hold....
We spotted yesterday what seemed to be an attempt at reversing the current bearish trend, as bitcoin price was well supported at the $220-$230 level; however, the attempted reversal was resisted shortly and the price began to fall again after reaching a high of around $243. By drawing a trend line between the low reached on the 14th of January ($165.82) and the high reached on the 26th of January ($315) on the 1 hour Bitfinex (BTC/USD) charts from tradingview.com, and then plotting the Fibonacci retracements accordingly (look at the below chart), we can see how the downtrend that had....
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In the previous Litecoin price technical analysis Something Big is Coming!, we touched upon the triangle pattern formation, a breakdown from which is expected to resume the downtrend that the cryptocurrency is in. Litecoin is currently trading at $2.812, barely higher than its previous observation of $2.800. As Litecoin tests the patience of the market participants for another day, I would advise them to hold tight as an immediate breakout from the pattern is imminent. Litecoin Chart Structure - Not much has changed in the chart structure except that the range has contracted even further....
Ethereum Price Key Highlights. Ethereum price retreated from its recent rally upon hitting a high of 0.00294 but might be ready to resume its climb soon. Price has pulled back to the moving averages, which might hold as dynamic support areas, and could gather more bullish momentum. Ethereum price is taking a break from its uptrend but might be due to head north again, if the near-term inflection points hold as support. Correction Over? Technical indicators seem to be suggesting that the ethereum price correction is already over, as stochastic made it out of the oversold region and is....
Bitcoin price has taken a pause from its recent sharp drop, as sellers are waiting for more downside pressure. Potential catalysts for bitcoin price volatility this week include the release of US retail sales, PPI, and consumer sentiment data on Friday. Most of the technical indicators on the 1-hour chart of bitcoin price seem to suggest that more losses are possible. The short-term 100 SMA has just crossed below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. If a pullback occurs, the moving averages might be able to hold as dynamic resistance....
Key Highlights. Litecoin price broke a major support area on the hourly chart (price feed from Bitfinex) and traded lower. Our initial sell target of $3.10 was achieved as forecasted in the recent technical analysis post. The price may attempt to correct higher in the short term and might face sellers near $3.15-20. Litecoin price moved lower sharply and failed to trade higher, suggesting that buyers are struggling to hold the ground. Support Turned Resistance. Finally, our previously highlighted $3.40 resistance area acted as a catalyst and pushed Litecoin price lower. A major support....
Litecoin broke above a narrow consolidation during the April 22nd session and headed to 1.48 before stalling at the start of the April 23rd session. Let's go over the 1H and 4H charts to monitor the bullish attempt. Litecoin (LTCUSD) 1H Chart April 23. As price retreated ltcusd found support at 1.44. So far, the bullish technicals in the 1H chart are intact:1) The moving averages have started to slope up and have formed a bullish alignment, with the 50-hour above the 100-hour, above the 200-hour SMAs. 2) The RSI has broken above 70, which signaled the initiation of bullish momentum. But it....