Bitcoin Price Technical Analysis for 15/2/2015 - Out of the Blue!

Bitcoin Price Technical Analysis for 15/2/2015 - Out of the Blue!

Bitcoin price dropped today to a low of $228.45. It seems that the buying power of the market didn't succeed in maintaining the price above the $256 support level for a long time. By looking at the 1 hour Bitfinex (BTC/USD) chart from tradingview.com and plotting the 20 day EMA on top of the chart, we can see how bitcoin price exhibited a rather steep drop from $268.34 to around $228.45 today. The bearish wave seems to be gaining strength as shown by the 7 successive red bearish candlesticks on the 1 hour chart. Also, the price has been trading below the 20 day EMA during most of today's....


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Bitcoin price has, during the past three days, formed a series of lower highs and higher lows in a pattern that resembles the consolidation prior to a decline. There are technical indications that a pull lower is on the cards, but it may not get far. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h00 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitfinex 1-hour chart shows the decline since the....