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:....
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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....
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....
Bitcoin price is pulling back from its ongoing uptrend, offering bulls a chance to go long at cheaper levels. Bitcoin Price Key Highlights. Bitcoin price retreated upon testing its yearly highs, allowing the correction to materialize as predicted in the previous post. An ascending channel can be seen on the 4-hour bitcoin chart, and price is approaching the floor. Technical indicators are showing that the climb is likely to resume rather than reverse. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the 4-hour chart, confirming that the path of least resistance....
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 […]
Bitcoin Price Key Highlights. Bitcoin price has been under a lot of bearish pressure recently but could be due for a bounce as it nears a long-term area of interest. On the daily time frame, it can be seen that price is moving above an ascending trend line that has been holding since November 2015. Price is still within the Fibonacci retracement levels so a continuation of the uptrend is a possibility. Bitcoin price sold off sharply in the past week but is currently testing a key support zone around several major inflection points. Technical Indicators Signals. The 100 SMA is safely above....