Bitcoin Price Advances Above Chart Resistance

Readers of the weekend update article will no doubt now understand why I said that I was going to pocket my gains in bitcoin at the $715 point. To recap, this is what the daily chart looks like: I pointed out that as of Saturday night, pricetime was bumping up against 4th arc resistance. While 4th arcs do not typically stop strong advances such as this one cold (but NEVER say never), they quite often slow advances down with a pullback. So it was that I suggested that it was a good time to pocket the $80/coin we had made since we called the start of the advance at the end of the 3rd square.....

In the 1-hour Bitcoin price chart, the last hour's price action had concluded in a spinning top candle indicating the uncertainty in the market. It is, no doubt, related to the US Marshall Auction winner announcement at the end of the US session at 5pm EST. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 14h25 UTC. Bitfinex 15-Minute Chart. From the analysis pages of xbt.social, earlier today: At the present juncture, the price correction has not touched any of our MAs at multiple timeframes. So what....

Bitcoin price advance accelerated today and pushed to $400 (Bitstamp) and 2740 CNY. Although a price correction is overdue, the advance is relentless. Pushing above the significant resistance identified in yesterday’s analysis, the price pattern’s wave count has been revised from an ABCDE structure to a simpler ABC correction. The OKCoin BTC/CNY chart shows the contradictory signals that have characterized the past two weeks: 1) The last wave top has hit multiple Fib extension targets – this implies that a deeper correction (or reversal) should now set in. 2) The fact that the advance has....

Litecoin falls 1 percent as Bitcoin extended its slide over the weekend. Now at $3.899, Litecoin is in a strong downtrend and price advances can be used to go short in the counter with tight stops in place. Technical analysis of the daily LTC-USD price chart conveys that pessimism still weighs on the cryptocurrency and good profits may be made on creating short positions at extremely low risks. But practicing the stop-losses is the key! Litecoin Chart Structure - The price chart conveys that Litecoin is trading in a lower top, lower bottom structure (marked in the chart), where repeated....

Bitcoin price has been trading in a relatively narrow range of $320-$334 for the past day or so. I expect that it will break out of this range soon. Overhead resistance had been tested and held on a few occasions, but we broke through that resistance as this article was being written. 3-Day Chart. To touch the long term support line, price on the 3-day chart would need to fall to $315. But I would be surprised if it goes there. If it does, it will cause me to sit up and take notice, no doubt. This chart will clear 2nd arc resistance no later than Jan 1, 2015. From there, there will be....