Bitcoin Weekly Analysis - Downside Risk Exists
Bitcoin Weekly Analysis: Key Highlights. Bitcoin after trading close to the 250.00 resistance area failed to maintain gains, and is currently heading lower. It remains at a risk of a downside break, which might take it towards 230.00. In one of the previous analyses we forecasted that Bitcoin might struggle to clear the 247.50-250.00 resistance area and could correct lower. It started a short-term correction, and also formed a descending channel on the 4-hours chart. Recently, the price dropped to the 76.4% fib retracement level of the last leg from the 227.50 low to 247.50 high. It also....
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Ethereum price weakened this past week versus the US dollar, and currently waiting for ETH/USD buyers to step in for a recovery. Key Highlights. Ethereum price traded lower against the US Dollar this past week, but remained above a major support. There is a crucial bullish trend line formed on the 4-hours chart of ETH/USD (data feed via SimpleFX), which is acting as a support area. As long as the price is above the trend line support, there is a chance of an upside move. Ethereum Price Correction. Ethereum price ETH was seen struggling throughout this past week against the US Dollar and....
According to today's updated Bitcoin price analysis, the exchange rate has been drawn back to yesterday's low of near $473. The trend is still pointing down, and the indicators show scope for further decline. This analysis update refers to an in-depth Bitcoin price analysis report published on Sunday. Bitcoin Price Going Down? Looking at the hourly Bitstamp chart, price can be seen attempting to break below the central decline channel that has contained price action for the past ten days. If a breach to the downside occurs then the immediate target will be $460 which isweekly pivot support....
Key Highlights. Litecoin price after attempting a correction failed, and currently heading lower. The price breached a monster support area, which is signaling towards more declines ahead. Litecoin price clearing a critical support area is a warning sign to buyers and could ignite a downside move. Litecoin price solid run towards the upside failed around $8.98, as it traded lower. The downside was stalled around $3.24. It was a monster decline, as pointed in the previous weekly analysis. However, buyers made an attempt to take the price higher, but the upside was stalled just below the....
Ethereum price looks like forming a monster range on the weekly time frame chart versus the US Dollar, which may stay for some time. Key Highlights. ETH price mostly traded in a range this past couple of weeks against the US Dollar. If we have a look at the weekly chart (data feed via SimpleFX) of ETH/USD, there is a broader range formed. On the upside, there is a major resistance near $15.00, and on downside $7.00-20 is a support. Ethereum Price Range. Ethereum price ETH surprised many traders recently with its ranging moves against the US Dollar. The fact is that there is no major reason....
Bitcoin trading, today, sacrificed the technical advantage it had gained from Friday's advance above long-term resistance. The market had already successfully tested the trendline on the day but returned to it in a cynical sell-off during Sunday trade. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 14h38 UTC. Bitstamp 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The technical chart conditions are similar to the sell signal they gave prior to the drop visible on the....