Bitcoin Price Technical Analysis for 26/5/2015 - Disappointing Moves!
After diminishing the gains over the weekend, Bitcoin has started this week on a poor note. The virtual currency has failed to respect the crucial support zone of $236-238, and now runs the risk of a huge decrease in the market cap. Hopes are high that the level of $234 may not get violated very soon. Each Bitcoin can currently be bought for $235.98, 1.05% cheaper than yesterday's $238.50. Upon technically analyzing the 240-minute BTC/USD price chart, it can be concluded that all is not yet lost for the virtual currency. Bitcoin Chart Structure - After failing to sustain at higher levels,....
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Last week ended on a very disappointing note for Bitcoin market traders and speculators as the cryptocurrency failed to budge beyond a certain, small range. Many of the market participants expected Bitcoin to move as the week came to a close, but nothing significant was seen. Bitcoin is currently trading at $228.90, closer to its support zone of $220-225. Even though the price action has been sort of dull, the technical indicators have undergone changes. Let us find out below which ones are telling what. Bitcoin Chart Structure - As you can see, Bitcoin traded in a small range of $223-246....
Sellers continue to run amok in Darkcoin as the price plunges to new lows. Thanks to the sell-off, each Darkcoin has gotten significantly cheaper and can be bought for 0.0172BTC. Investors may also consider adding to their long positions as the price nears a crucial support level. The 240-minute DRK/BTC price chart above, taken from bitcoinwisdom.com, has been analyzed using technical analysis to reveal some noteworthy points from a trading perspective. Chart Structure - The price trend has been disappointing, to say the least. Ever since Darkcoin hit a high of 0.02495BTC, price has been....
In what appears to be the first conclusive sign of an upcoming breakdown, Bitcoin ended yesterday's trading session at the lowest closing for September-to-date. And currently, Bitcoin seems to be staging a fake pullback to entice more market participants to go long without reading too much into the breakdown. Bitcoin is currently trading at $227.92 and the resistance is now at $228.60. In the previous Bitcoin price technical analysis A Disappointing End to the Week!, we discussed how the technical indicators were reflecting the bearish sentiments in Bitcoin, and today, we are going to....
Darkcoin remains subdued as every rise is quickly undone by selling pressure. The cryptocurrency has failed at shrugging off the pessimism and continues to trade in a lower top fashion. Even with prices consolidating, it seems hard to advise that bears won't make a comeback and that buying should be initiated. Darkcoin users will now have to shell out 0.01588BTC. In the short term, Darkcoin may consolidate or fall to lower levels, but there doesn't seem to be a proper case to support any bullish argument. The 240-minute DRK/BTC price chart has been taken to implement the technical....
Litecoin has broken out from the two-week trading range we discussed in the previous Litecoin price technical analysis titled Range Trading? as positivity from the Bitcoin market spills over. Litecoin is currently trading at $2.887. Though a breakout may seem as the best indication for the market participants to go long on Litecoin, my advice would be to wait for a close above $2.950 or buy on a dip. But, why do I say this? Read on the technical indications below to find out. I still find the technical indications fairly mixed and therefore, require stronger signals or a low-risk....