Bitcoin Price Technical Analysis for 4/2/2015 - Uncertainty Prevails
Bitcoin price exhibited sideways movement as we approach the $200 support level. Although chart analysis is in favor of a price advance in the near future, low trading volumes and uncertainty of traders has led to today's sideways price movement. By looking at the 1 hour Bitfinex (BTC/USD) charts from tradingview.com (look at the below chart), we can notice the sideways movement of bitcoin price during today's trading hours. The price seemed to oscillate between $220 and $230 without a definable trend. The low trading volume today reflects uncertainty of a large percentage of traders who....
Related News
Bitcoin price decided to go bearish again today, losing around 10% to drop to around $214 at the time of the writing of this article. Indecisiveness in yesterday's market has driven the price down near the $200 resistance level. By looking at the 1 day Bitfinex (BTC/USD) charts from tradingview.com (look at the below chart), we can notice that the upward trend that started on the 15t of January reversed on the 26th of January after pushing the price up to more than $300. Although the price was well supported by the $220 level during the past few days, it seems that this level failed to....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
Dash is testing the patience of short-term market participants with its extremely thin consolidation range. In the past 6 hours, the cryptocurrency has barely moved with the price trapped inside 0.01400-0.01403BTC - this is in no way a tradeable range. However, prolonged consolidation may also mean that the cryptocurrency is forming a base and a recovery is in the offing. Each Dash can currently be bought for 0.014BTC. Analysis of the 360-minute DRK/BTC price chart indicates that the sideways price action cannot continue for long. Chart Structure - Even though Dash is comfortably....
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
The uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet Punch, the official, Abebe Selassie, said this in response to a question posed to him during a virtual press briefing. However, in his two-part response to the question, Selassie starts by acknowledging the impact the global Covid-19 pandemic has had on cross-border remittances in general. He....