Bitcoin Price Trend Continues: Can we Recover?
Yesterday's action in the bitcoin price came as a result of a few key fundamental factors putting pressure on the BTCUSD, and initiating a larger than usual volume of selling. The closing of a digital currency marketplace and an exchange within 24 hours of one another, and what looks like turning out to be many digital currency holdings lost by individuals, has translated to a lower bitcoin price today - but can we recover? Is this simply a fundamental move - one that, in time, the market can brush aside? The answer, of course, is that we don't really know. However, there are a few key....
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The powerful growth of Bitcoin’s price was followed by a sharp drop. That downward trend was natural. What explains the current drop? It was mentioned earlier that Bitcoin’s price has reached an important long-term resistance line. A new direction is usually chosen in such points, or, alternatively, an old trend continues with more power, but only after a rebound. What that means, is that there was a good chance for a drop, and it happened. The last confirmation was the disruption of the structure of the upward trend, a point where the drop finally took place. So far this short-term trend....
Bitcoin’s upward trend continues. Will this movement reach the $450 mark and set a new maximum? Will the price reach 450? Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up. If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if....
Key Highlights. Rubycoin price is making an attempt to recover after sliding in towards 0.000100BTC. Buyers are pushing the price higher and taking it towards a major bearish trend line and resistance area. The hourly RSI is in the negative zone, pointing that the price is still under a bearish pressure. Rubycoin price is recovering, but it is closing in towards a major resistance area around 0.000230BTC. 0.000230BTC as a Resistance. As mentioned yesterday that the Rubycoin price tumbled recently and traded 0.000100BTC. However, buyers appeared around the stated level to prevent any....
Key Highlights. Dogecoin price looks like forming a short-term base near 32.2 Satoshis, as shown on the hourly chart (price feed from HitBTC). The price may bounce from the current levels, but could find resistance near 35.0 Satoshis. Selling rallies may be a good deal moving ahead as long as the price is below the mentioned resistance area. Dogecoin price may recover in the near term, but we cannot discard the fact that there is a lot of bearish pressure, calling for sell rallies idea. 35.0 Satoshis as Resistance. Dogecoin price found bids near 30-32.0 Satoshis, and currently attempting....