Darkcoin Price Technical Analysis for 1/4/2015 - Collapse Expected
Darkcoin has cracked below the crucial support level of 0.01617BTC and it provides a perfect selling opportunity to short-term traders. I had earlier expected the market to respect the support level and consolidate for some time, but it was also mentioned that a breach of this support should be seen as a red flag and all long positions should be liquidated then. Each Darkcoin is currently worth 0.01526BTC. Technical analysis implemented on the 240-minute Darkcoin/BTC price chart above reveals that a major support has been breached decisively and that more losses will follow in the coming....
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Darkcoin has failed to hold on to early gains and was last trading at 0.0109BTC. The depreciation in the value of Darkcoin can be attributed to the sharp rise in the price of the most loved cryptocurrency, Bitcoin. As Bitcoin continues to push upwards to cross $300, Darkcoin will feel the heat. Technical Check: Stay Cautious! A precise technical analysis on the daily DRK/BTC price chart, taken from www.bitcoinwisdom.com points to bearish connotations for the pair. Fibonacci Support - Darkcoin has deeply disappointed the investors ever since it peaked out at 0.016BTC in February. The pair....
Sellers continue to run amok in Darkcoin as the price plunges to new lows. Thanks to the sell-off, each Darkcoin has gotten significantly cheaper and can be bought for 0.0172BTC. Investors may also consider adding to their long positions as the price nears a crucial support level. The 240-minute DRK/BTC price chart above, taken from bitcoinwisdom.com, has been analyzed using technical analysis to reveal some noteworthy points from a trading perspective. Chart Structure - The price trend has been disappointing, to say the least. Ever since Darkcoin hit a high of 0.02495BTC, price has been....
Selling in Darkcoin seems to have abated near the crucial support level of 0.01615, a possibility of which was discussed in yesterday's analysis titled Nearing Support. The value of each Darkcoin is however, relatively unchanged at 0.01730BTC. Technical analysis of the 240-minute DRK/BTC price chart reveals that a near-term bottom has been reached and prices may consolidate (if not rise) from here on. Chart Structure - I had discussed earlier that level of 0.01617BTC should act as a strong floor and that selling will cease near this level. As can be seen from the chart above, the price....
The latest price action in Darkcoin has clearly taken me by surprise, and bears will be seen scampering for covers if they do not reduce or exit their short positions immediately. Just when it looked like the bulls were losing their grip and that bearish momentum will intensify in the coming sessions, the bulls made an exceptional comeback paring a major percentage of its losses since March 30. Each Darkcoin is currently worth 0.01657BTC. Darkcoin price chart, Darkcoin analysis. The price action and the technical indicators overlaid on the 240-minute DRK/BTC price chart present a strong....
Darkcoin's latest price action has been nothing less than a disappointment. Earlier, when it regained control and broke above the crucial resistance levels, hopes were high that the bullish momentum won't wane abruptly but, Darkcoin dashed all those hopes. I mentioned in my earlier analysis that sustenance above the 20-4h simple moving average is the key to more gains. Evidently, the market has failed to respect that level and the price of each Darkcoin has now slipped to 0.01574BTC. The 240-minute DRK/BTC price chart connotes a bearish outlook for the cryptocurrency as it fails to hold....