Bitcoin Price Drawing Sideways

Bitcoin price could continue to trade sideways as the Christmas holidays are approaching and volumes might be turned down. Bitcoin Price Key Highlights. Bitcoin price seems to be moving sideways recently, possibly establishing its range for the remainder of the year. Volatility has been subdued again after the FOMC statement led to a sharp rally for the dollar then a quick reversal. Bitcoin price found support around $765 and resistance at $795. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside. Bitcoin price....

Bitcoin price is drawing sideways above $410. With plenty of volume – both on the buy and the sell side – we can expect that the market will soon choose a direction. Clear support and resistance close to the area of price will give an early indication of trend. Interesting price action that has drawn sideways for 24 hours and now attempts to push higher toward resistance. It could be that a complex correction is developing, that could seek to target the long-term resistance ceiling (grey). Alternatively, we might see price reverse at the dark blue trendline, directly above price action,....

The price of Bitcoin started moving sideways today, after yesterday's rise, but the buying trading volume is keeping the price well above the $200 resistance point throughout the day. By drawing the Fibonacci retracement fan along a trend line that extends from the high recorded in November 2013 and the low recorded earlier this month (look at the below chart), we can easily identify resistance and support points at this stage. By observing the 1 hour (BTC/USD) chart from Bitfinex on tradingview.com and extending the Fibonacci fans from the 1 daily chart (look at the below chart), we can....

Bitcoin price continues drawing sideways in a narrowing range. Will it return to decline? A test of the Fib line just below price (near $370 and 2530 CNY) should be the next market undertaking, and failure of this support should open up any remaining decline in the downtrend since December. If the market can hold the current price level and then advance to a new local high, we could see some light at the end of the tunnel, but there is not yet any evidence that a final low has been struck.

Bitcoin price is slowly drawing sideways as the market adjusts to the prospect of advance. The mood is cautious but here and there a price spike to the upside reveals that the bulls are rearing to go in the weeks to come. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Value and Price Analysis. Time of analysis: 14h40 UTC. BTC-China 15-Minute Chart. The wave up since $210 has been retraced to 38% and although 62% (or up to 99%) retracement is still possible for this wave to constitute an advance, even a drop to $200 would keep the prospect....