Bitcoin Price Technical Analysis for 11/3/2015 - Failing Bulls
Bulls have utterly failed in capitalizing on the exuberance in the digital currency. As the price surged and sustained above the previous resistance zone of $280-285, the market was optimistic of the value crossing the $300-mark. However, even though $285 has not been breached on the lower end, considerable damage has already been done. Aggressive profit booking has led to price slipping from a high of $297 to a low of $286. Bitcoin is currently trading at $288.82, and bulls are fast losing steam which may become a cause of worry. https://www.tradingview.com/x/1Ipl74jQ/. As can be seen....
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I will resume writing a daily LTC price technical analysis starting from today, so throughout this article, I will try establishing some key resistance and support points that would help us read through the charts and detect clues that can predict future price movements. Last week, LTC price surged to exceed $4 on the 31st of October. The bullish wave started a day earlier than Bitcoin's surge and Litecoin's price rose from $3 to around $3.72 last Sunday. However, as Bitcoin's price rose above the $340 resistance level, LTC also continues to print higher highs. Bulls in Control On 1 Day....
Bitcoin has been consolidating since falling to a low of 166.45. After popping up above 300 briefly, it has been consolidating in February. Bitcoin (BTCUSD) 4H Chart 25/2/2015. In February, bitcoin made another push after failing to clear below 210 several times as we can see in the 4H chart above. Here are some other observations: 1) Price has rallied and held above the 200-, 100-, and 50-period simple moving averages (SMAs). This usually reflects bullish bias, but we can see that this bias is young because price only recently came up above the SMAs. Still, the fact that the cluster of....
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