Bitcoin Price Technical Analysis for 24/4/2015 - Slow Drift
Bitcoin has stalled after a rally to 238/239 during the April 22 session. At the start of the April 23rd session, price retreated but held above 232. So far in the 1H chart, the market is still bullish in the short-term. Bitcoin (BTCUSD) 1H Chart April 24. As we start the April 24th session, we can see that price is still for the most part above the 200-, 100-, and 50-hour simple moving averages (SMAs) which are sloping up and in bullish alignment. The 1H RSi has pushed above 80 and held above 40, which shows maintenance of the bullish momentum. btcusd during most of the April 23rd session....
Related News
While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.”
Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million
While centralized exchanges like Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual swaps, decentralized....
In my previous Bitcoin analysis, I had mentioned the possibility of the price touching $230 in the near term, and as can be seen, the virtual currency cracked roughly 1.5 percent to $231.44. However, bulls have managed to pare most of the losses, bringing the price back up to $234. With price slipping further, it only becomes necessary to revise the technical levels. An analysis of the 240-minute BTC/USD price chart has been carried out for the aforementioned purpose. Bitcoin Chart Structure - The chart above represents the slow, downward movement of the virtual currency. With steady....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
In the previous Bitcoin price technical analysis Rebounds, we discussed how the cryptocurrency was erasing the losses for the past week. But, the entire positivity was put to rest over the weekend as bears made a comeback and long positions were fast liquidated at the slightest hint of a pullback. Bitcoin, which is now trading at $227.93, has once again come closer to its important buying interest zone of $220-225. As the price decline has pushed the price closer to its crucial support, market participants may also be factoring in a breach of support this time, but I would recommend....