Bitcoin Price Approaching a Watershed

At "Inside Bitcoins the future of virtual currency" Bitcoin Conference in New York held on July 30th, Adam B. Levine, senior fellow with the Bitcoin Education Project and Editor in Chief and Co-host of Let's Talk Bitcoin! announced his ambitious project code-named "Watershed" (watershed.launchrock.com) in a well received speech, "Win-Win-Win-Win-Win: Rethinking Content Monetization with Bitcoin" with the collaboration of Farzad Hashemi. The speech laid out the foundation for a versatile audience supported content exchange system. More specifically, Levine told Bitcoin Magazine that....

Bitcoin price has made a tentative push higher in a densely packed curved price wave. The market is approaching a reaction zone and the negotiation should determine the next phase of trend. Increased buying volume during the past several hours is bring price towards its 200-hour moving average (200MA) in the Bitstamp chart. The 200MA is a critical watershed for trend, and until price has established above it, this may not be the best time to jump into the move. The stochastics (top) are overbought and diverging (red dots), and RSI is forming massive reverse divergence to price as the RSI....

The Bitcoin price is in a holding pattern awaiting a directional watershed. Last Friday price bounced off a rising trendline, originating at a price low set in 2012, and is now approaching it, once again, as trade meanders sideways. The side of the trendline that the market chooses could set the direction of trend for the coming weeks. Update 17h50 UTC. The market has decided. A few minutes ago, the Bitcoin price touched the rising trendline and launched into a strong advancing wave. Not sure that the trendline can take all the credit, though - keep your CCN home page refreshed for a....

Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered the market. As....

The small energetic bitcoin price wave that developed in yesterday's chart was retraced today. As price approaches a long-term trendline from December 2013, xbt.social members discuss how to handle the subsequent trend direction. 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: 11h21 UTC. Bitfinex 1-Day Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: A daily Bitfinex chart....