Is Bitcoin Price Setting Up For Decline?
The Market traded a full retracement of the week's zigzagging advance. Weekend trade has pushed the Bitcoin price higher but is it shuffling to the edge of a cliff? 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: 15h29 UTC. BTC-China 1-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The similarities between the tops formed by the two price waves in the chart are....
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Bitcoin price has climbed back above $400 and 2700 CNY. Whether this is a new wave of advance, or merely a correction prior to more decline remains to be seen. It is within the realm of possibility that the market trade price all the way back to where this decline started last week. More likely, is that the market contest price at current levels, thereby forming either a corrective pattern setting up additional decline or a new base for advance. However, there is not yet a resolution about the looming hardfork, so negative feeling may persist and decline eventually resume. Bitcoin price....
Bitcoin price has drawn sideways around $450 (Bitstamp) for most of the day before making a rounded push higher. The decline may be over but additional price action is needed so soon after the strong upside reversal. The attached 15-minute chart shows price action since early May. A few chart annotations relating to previous analysis are visible, but today’s analysis focusses only on the drop since yesterday. It is unclear whether price has found support at the $450 level, and will now begin another slow push higher, or whether the sideways price action is setting up the next leg of....
Bitcoin price has found structural support in the chart and has started a tentative (but uncertain) advance. Caution into year-end. Price seems to have found support near $400 and 2600 CNY and has been making slow but steady advance in a pattern that is not yet clearly impulsive. It may still be a correction before drawing sideways or even setting up additional decline. Assuming for now that the decline is complete, and seeing that price is advancing, there is an imminent reverse divergence (magenta) to both the 1hr MACD and RSI awaiting price if it advances higher in the chart.
BTC-China was leading a decline of today's price wave to the downside. The decline reversed at $235.02 (Bitfinex) and 1460 CNY (BTC-Cina). Technical analysis looks at the prospects for the coming days, and we examine the lull in Bitcoin price movement during the past few weeks. 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: 15h50 UTC. BTC-China 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis....
The price of bitcoin jumped 12% today, setting a weekly high of $368.51 at 12:30 (UTC). According to the CoinDesk USD Bitcoin Price Index (BPI), the digital currency opened the day at $328.98 before increasing $40. The price has shed about $20 from its intra-day peak, trading around $346 at press time. Bitcoin's price made the headlines earlier this month as it surged past $450 for the first time this year, nearing the $500 mark. The price reached $492.40 on 4th November at 00:00 (UTC) and subsequently dropped by a staggering 30.6% on 11th November, when it peaked at $341.32. Elsewhere, a....