Bitcoin Value Stable Just Below Overhead Resistance

Bitcoin is fast approaching a long-watched overhead resistance level formed in the time following its recent rejection at its $19,500 all-time highs. The selling pressure here proved to be quite significant and caused the cryptocurrency to see a strong decline that led it to lows of $16,400. This movement was perpetuated by various factors, including […]

Bitcoin price has been trading in a relatively narrow range of $320-$334 for the past day or so. I expect that it will break out of this range soon. Overhead resistance had been tested and held on a few occasions, but we broke through that resistance as this article was being written. 3-Day Chart. To touch the long term support line, price on the 3-day chart would need to fall to $315. But I would be surprised if it goes there. If it does, it will cause me to sit up and take notice, no doubt. This chart will clear 2nd arc resistance no later than Jan 1, 2015. From there, there will be....

Bitcoin price has been bubbling under a strong resistance layer and with an apparent five wave impulse visible in the chart, the market is stumbling over itself trying to position for the Big One. Technical analysis reveals there is tough resistance overhead. 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: 14h19 UTC. Bitfinex 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social,....

Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....

As expected, the bitcoin markets have been relatively stable over the past week, although it now looks like a rally up to resistance is becoming more and more likely. Now that a week has passed since the halving and there has been no technical incident, no significant drop in hash rate, no network clogging fee event, and no major selloff in price, we think the market is simply digesting its new economic reality for the time being. Unfortunately for traders this digestion period means a lack of volatility due to a tightening consolidation, however as we know range contraction inevitably....