Bitcoin Price Holding Steady Below Long-Term Support
Bitcoin price is maintaining the same level trajectory it held at the time of yesterday's analysis. The market has entered a consolidative phase, and there are two potential paths for price: one is up, and the other is, well... CoinCompetition invited participants in the upcoming trading competition to test drive the new CoinArch demo platform - the competition's chosen trading interface. 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:....
Related News
In the past few days, we advised traders to consider taking profits ~$344. It turns out that the magic number was a few dollars shy of that figure ($338). We also suggested that when the next pullback occurred we could possibly get a test of the long term support line. As I am writing these words, price has touched that support line. For now at least, that support is holding. See the 3-day chart below. As long as we do not get a close below that support line I will remain medium-term bullish. I continue to expect that the market will rise as soon as the price passes through the 2nd arc....
The Bitcoin price is down over 5% this Sunday, as it appears that we are returning to a long term down-trend which has been in place, and holding fairly steady in its path, since the summer of 2014. For a couple of weeks at the end of January, the Bitcoin world was full of optimism. With a strong upturn in price it seemed to many that we may have finally broken the digital currency's long term decline in value. But looking at longer term charts - 90 or 180 days - it becomes clear that January's spike was simply an overcorrection for the dip in early January which had taken the bitcoin....
Bitcoin is at a pivotal juncture as the market digests Wednesday’s 25bps interest rate cut from the Federal Reserve, a decision that has shifted market dynamics into a new phase. Following the announcement, BTC has entered a period of consolidation, with price holding steady as investors weigh the potential for another leg higher. While short-term […]
Ethereum’s recent pullback has added pressure to the market, but the broader technical structure continues to show signs of resilience. Despite the decline, ETH remains above several critical support zones, keeping hopes alive that the long-term bullish trend may still be intact if buyers can maintain control at these key levels. Ethereum Holds Above Critical 2022 Ascending Trendline According to The Boss, Ethereum’s broader market structure may still be holding firm despite the recent wave of selling pressure across the crypto market. Although ETH has experienced a steady decline over the....
Cardano’s price is holding the $0.0950 support level and recovering higher. However, ADA must surpass $0.1020 and $0.1040 to start a fresh rally in the near term. ADA traded as high as $0.1129 before declining below the $0.1050 support against the US dollar. The price is holding the $0.0950 support, but it is well below […]