Bitcoin Price Range Decreasing
A longer-term view of the Bitcoin price chart shows that the moving averages are more closely compressed - and aligned - than they have been in over a year. Price action has narrowed in range and is tending toward $240 and 1480 CNY. 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: 14h02 UTC. Bitfinex 4-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: Failing to....
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Bitcoin price continues inside its two-month sideways consolidation range. This time we’re in for a price dip that should return to current price levels after a small descent. After making a rounded top yesterday, price declined toward the 1-hour 200-period moving average (200MA, red). The current declining pattern resembles previous initial waves into decline (circled in magenta) but lacks the amplitude of those formations. Bitcoin trading volume has been gradually declining since the start of 2016, and the decreased participation is reflected in the decreasing range of price motion in....
While Bitcoin briefly did break the magical $400 barrier a couple weeks ago, it has now receded to the $380-$390, experiencing a lot of sideways movement between the two. In an attempt to keep current however (graphs do not reflect this) the price of Bitcoin has fallen down to the $360-$370 range, just showing how the price of Bitcoin can change to a day to day basis. Bitcoins volume is slowly decreasing, and price is staying relatively stable. If we refer to history of Bitcoin, my gut feeling is Bitcoin will experience more sideways movement for a long time, with a slightly downward trend.
Bitcoin had a larger than usual fluctuation, gaining 20% in price only to drop 20% back to the original price range, Litecoin broke through it's ceiling reaching $3.80, $4 and $4.20 all the way to a peak of $4.35, only to fall back down to $3.50 where it is now. A correction back to $3.80 is probable. The LTC/BTC pair exchange rate continues decreasing reaching 0.083-0.084. It is projected that if Bitcoin goes lower than $400 for too long Litecoin will most likely fall into a long depression.
Litecoin continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....
Bitcoin Price Key Highlights. Bitcoin price appears to be moving sideways these days, barely able to establish a clear strong direction after its sudden rally and subsequent drop earlier in the month. Price is bouncing back and forth between support at $315 and resistance at $340, and might stay inside this range for quite some time. Technical indicators are suggesting that bitcoin price could keep moving inside its short-term range, although the path of least resistance is still to the downside. Mid-Range Area of Interest. At the moment, bitcoin price is stalling at the middle of its....