Bitcoin Price: More Decline Coming
Bitcoin price is being traded lower in small price steps as buyers eagerly take advantage of new lows, and profit takers fill in the ending of the current wave of decline. After another correction we could see an additional wave of decline. Will it be foreshortened by buying demand or catastrophic due to mass participation? 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: 15h47 UTC. Bitfinex 4-Hour Chart. Also Read: Why The Preference....
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Bitcoin price declined today without printing a new low. It may only be the first wave of decline towards a Classic(TM) induced low but, ultimately, we know that Core development has a mid-year block-reward halving rally in store. A lazy sell signal in the 15min BTCC chart (not shown) and what looks like a five wave decline in the 1hr chart (above). Although there is no 1hr MA sell signal (and still some time to pass before one will develop), notice, in the 1hr chart, the similarity between the current declining wave and a similar decline from a high in the top left of the 1hr chart.....
Sunday trade brought the Bitcoin price below $300 across the BTC/USD exchanges. Price dropped to $275 at Bitstamp before climbing back above $300. Additional downside may still be possible, but there is strong evidence that the bottom may have been struck. Confirmation of a bottom will be covered in CCN's daily analysis articles during the coming days. As always, stay tuned to CCN for the latest Bitcoin price analysis. Bitcoin Price Decline Overview. It is ten months to the day since China's PBoC announced restrictions on the exchange of Bitcoin. It is a popularly held belief that this....
Bitcoin price decline continued all day, and pattern analysis shows $400 (Bitstamp) is a likely target during the coming 24 hours. Price has remained below the 1-hour 20-period moving average (green) and 200-period moving average (red) since yesterday’s drop-off and all the timeframes below 1-week are now bearish. Two technical factors mitigate the possibility of strong decline: 1) price remains above $400 2) price is still above the long-term ascending support line (grey) just below $400 The current chart pattern corresponds to a price pattern seen at the start of April 2015 – exactly a....
Bitcoin price trimmed all gains and tested the $25,650 zone. BTC is now at risk of a fresh decline toward the $24,500 level in the near term. Bitcoin started a fresh decline below the $26,500 and $26,200 levels. The price is trading below $26,600 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline toward $24,500 in the coming sessions. Bitcoin Price Starts Fresh Decline Bitcoin price failed to climb again above the $27,000....