
Bitcoin Price Technical Analysis - Intraday - 13/03/2015: What to Watch
Earlier this morning we published an article highlighting the overnight action in the bitcoin price, and detailing our predictions for the coming European session. Now the European session is drawing to a close, and perspective shifts to the US, what can we expect in the BTCUSD? Let's take a look. From highs reached late last night (GMT), we corrected downwards towards what looks to be a likely floor around 286. From this level, we have seen an ascending triangle form and carry price to where we now trade just ahead of 290. The parameters of this triangle are the levels to keep an eye on -....
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Earlier today we published a technical analysis piece detailing the upward sloping channel through which the bitcoin price was travelling. We highlighted the fact that - from resistance around 248 - we may see a temporary correction, and that this correction would likely halt at the support offered up by the aforementioned channel. Today's action has validated this analysis, and - with the correction over - we've now returned to the upside bias on the intraday level. So what are the levels to keep an eye on to the upside as we head into the US afternoon session and beyond? Take another....
Earlier today we published a piece highlighting the likely action of the bitcoin price as the BTCUSD matured throughout the European session. The primary pattern we highlighted was the downward sloping channel that formed from last night's highs just shy of 285 flat. We theorized that one of two scenarios would occur, and that this scenario would define price action as the European session closed and the US afternoon session began. So, with this said, how did the bitcoin price mature throughout the day, and what should we expect over the coming few hours? Let's take a look. The primary....
Bitcoin briefly topped $250 for the first time since August 19, 2015, hitting a fresh monthly high of $250.09. We concluded the previous Bitcoin price technical analysis Retreats From Monthly Highs on a positive note saying that market participants should not be concerned about the drop and instead go long in Bitcoin near $242 for a target of $250. As can be seen, Bitcoin hit an intraday low of $242.82 before meeting the said target. Bitcoin is currently trading at $248.81, up 1.92 percent. And yes, we stand by our long call! bitcoin price chart. Below are the latest technical....
An intraday look at the bitcoin price, what we've seen so far, and what we expect to see moving forward. Yesterday's action in the BTCUSD saw the bitcoin price decline just shy of $40, from intraday highs around 268.00 to lows mid evening just ahead of 228.00 flat. Our longer-term analysis of the pair (published a little earlier today) suggested that we may see a correction of this decline during today's session, and a look at the intraday chart vindicates this suggestion. The chart shows channel support "hit and hold" on three or four occasions throughout the European morning/afternoon,....
In my previous analysis titled Awaiting the Showdown!, I had expressed that a big move would rock the market during the weekend and there is a high probability that it may be on the upside. As we can see, Bitcoin has jumped a huge 14% to cross the $300 barrier and is comfortably trading at $307.87. Intraday, the cryptocurrency hit a fresh 7-month high of $317.99 but stopped short of registering a new high for 2015. However, today's Bitcoin price analysis would focus on whether to stay long or book some profits in the positions. Technical analysis of the Daily BTC-USD price chart indicates....