Bitcoin Price Correction Continues Lower
A strong drop from yesterday's consolidation zone saw the Bitcoin price retrace 50% of the previous five wave advance. The question is now whether a bottom has been struck or whether more downside is due. 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: 13h37 UTC. BTC-China 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: With 50% of the prior advance retraced,....
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Bitcoin will probably not reach $20,000 this year if a key technical price level isn't reclaimed soon. Bitcoin (BTC) continues to be in correction mode with BTC price dropping below $17,600 on Dec. 11, the lowest level since November. Bitcoin in a downtrend on lower timeframesEvery beautiful rally comes to an end and gets followed by a corrective period. This correction seems to have started with the price currently down more than 10% since touching a new all-time high ten days ago. Meanwhile, some recent news namely the proposed crypto regulation in the United States is bringing fear to....
Bitcoin price has pulled out of its downward correction but is now in a twilight zone between the advance high and a potential trend breakdown. How now? Let the market show the way. Price has completed a three-wave pattern that could spell the end of a corrective advance since yesterday’s bounce. If price continues lower, then the 1-hour 200MA (red) will be a target. This level was touched in some exchange charts, but not yet in the Bitstamp chart. Below it lies the $550 level where a Fib line should offer support. If price forms another wave to the upside then the present move is unlikely....
Bitcoin price has begun to slowly lose altitude below $580 (Bitstamp). As usual, exuberant buying continues at the wave top, so upward spikes may still form. Analysis looks for the initial confirmation of a downward price correction. As the OKCoin September futures contract opened today, price surged to near $616 in that chart. Although it was not a new futures high, it does speak of the bullish sentiment of traders with regards to the late-July reward-halving event. The other exchange charts remained subdued – most of them putting in a lower high for the day. We now keep an eye on price....
Key Highlights. Litecoin price fell lower as anticipated in the weekly forecast and reached our sell trade target of $3.50. There was a sharp reversal noted from the mentioned area, as the price managed to recover all its losses. There is a chance of a double top pattern on the hourly chart around $3.83-85 (price feed from Bitfinex). Litecoin price after completing a correction started to trade higher once again, but it is facing a tough barrier near the last swing high of $3.85. Can Litecoin Price Move Lower? Litecoin price after setting a short-top near $3.83 moved lower as a part of....
Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open. Bitcoin’s (BTC) price has been grinding up nicely over the past few weeks, but the past 24 hours have seen a significant correction. BTC price dropped by over $10,000 from $58,000 to under $48,000, a correction of almost 20%. This pullback — which many anticipated as 28,000 BTC was deposited to Gemini — also caused other cryptocurrencies to fall alongside Bitcoin, resulting in Bitcoin's market dominance rising as a result. But will history repeat and produce a dull, corrective March?....