Bitcoin Technical Analysis for 19/5/2015 - Stay Alert!
In my previous Bitcoin analysis, I had mentioned the possibility of the price touching $230 in the near term, and as can be seen, the virtual currency cracked roughly 1.5 percent to $231.44. However, bulls have managed to pare most of the losses, bringing the price back up to $234. With price slipping further, it only becomes necessary to revise the technical levels. An analysis of the 240-minute BTC/USD price chart has been carried out for the aforementioned purpose. Bitcoin Chart Structure - The chart above represents the slow, downward movement of the virtual currency. With steady....
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In my previous analysis titled Awaiting the Showdown!, I had expressed that a big move would rock the market during the weekend and there is a high probability that it may be on the upside. As we can see, Bitcoin has jumped a huge 14% to cross the $300 barrier and is comfortably trading at $307.87. Intraday, the cryptocurrency hit a fresh 7-month high of $317.99 but stopped short of registering a new high for 2015. However, today's Bitcoin price analysis would focus on whether to stay long or book some profits in the positions. Technical analysis of the Daily BTC-USD price chart indicates....
In the previous Bitcoin price technical analysis Go Short Now!, it was explicitly stated that the current action in Bitcoin would lead to a big decline in Bitcoin and that short positions should be created. As can be seen, Bitcoin did crash down to $260, slightly above my target of $257 over the weekend. Bitcoin is currently trading down 4.34 percent at $265.06. But, the big question now is: What to do? Should we stay short or should we book profits? As the technical indicators approach oversold levels, it's best to practice a bit of caution. Read on below the latest technical indications....
Since the last Litecoin price technical analysis Will This Support Hold?, Litecoin has gained $0.067 or 2.45 percent to trade at $2.800. The better part is that Litecoin is currently in a short-term technical pattern which will lead to a big swing in the price. Read on below the latest technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure - Upon a closer look at the price action of the past 6-7 sessions, it can be found that Litecoin has been trading in a small triangle. A triangle, which is a continuation pattern, in a downtrend implies that a bigger downmove....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
Bears hold complete control over Dash as the cryptocurrency continues with its spree of hitting fresh lows. In my earlier analysis on Dash, I had mentioned that the cryptocurrency is steadily losing and that it is best to stay on the short side of the trade; those who had followed this advice would have made good money (or avoided huge losses) as the cryptocurrency has plummeted to a 1-month low of 0.01231BTC. Dash is still under extreme selling pressure, languishing near the lows at 0.01254BTC. Although it is incredibly difficult to comment now as to when the ignored cryptocurrency will....