Bitcoin Trading Drooping Price Despite Bullish Desires
The Bitcoin price is slumping despite a market desire to advance the price. Certain parties outside the orderbooks have wanted a lower price tag on the crytocurrency for over a year and the sustained pressure for lower prices is finally achieving the lows. 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: 13h47 UTC. Bitfinex 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? Manipulation at BTC-China and Bitfinex, or....
Related News
Bullish and bearish outlooks on the crypto market can depend on the person holding the view. When talking about markets, both mainstream and crypto, “bullish” and “bearish” often come up in headlines and conversation, although such usage typically depends on financial knowledge and experience. What do the two terms mean?Bullish and bearish refer to market sentiment, seen collectively or expressed by an individual. If someone is bullish, it means they expect an asset or asset class to rise in price. Conversely, bearish refers to negative price expectations. Someone holding a bullish lean is....
Throughout Bitcoin’s lifetime, different people have participated in the network based on different desires.
Bitcoin price achieved a new high at $540 (Bitstamp) and 4000 CNY. The $550 resistance level remains untouched and should still be on the cards if the market can maintain momentum. Bitcoin price sold off rapidly from $540 in the Bitstamp chart and now looks to be either gearing up for the push to $550 resistance – or – for a correction lower. Corrective bitcoin price patterns are often ambiguous – looking similar whether they precede advance or decline – and it may be that the current drooping price pattern is a base for advance to $550. Let’s consider the technical indications. The....
Bitcoin price pushes higher, again, from horizontal support zone near $560. The outlook remains that the market is engaged in a sideways base formation prior to advance. Good upward continuation, today, toward the 4hr 200MA (red). We’re looking at the BTCC chart, since the reference Bitstamp chart is losing clear wave definition as price consolidates. Although the 1hr chart has started drooping, at the time of writing, the 4hr chart shows that additional upside is likely: 1) The stochastics have not yet grouped at their maximum 2) MACD remains above its signal line What we want to see is....
Bitcoin price achieved $550 in the Bitstamp chart, today. With Bitfinex already having spiked to $570, it looks like price will now correct the wave of advance before pushing higher. Technical analysis looks for confirmation of the move, as well as its potential targets. Bitcoin price continues drooping lower despite sustained, albeit low, buying volume. While the other exchanges drew sideways during the past 24 hours, Bitstamp made a bolt for – and hit – $550. By now, the 1-hour candle chart indicators are confirming the subsequent move lower: 1) the stochastics (top) would typically seek....