Bitcoin Price Advance Gains Momentum

Bitcoin Technical Analysis reveals that the uptrend is about to reverse from current levels. An exuberant breakout has fizzled out and lost critical momentum. Last week's article warned of a bull trap in the making. If the ensuing downturn is merely a correction, advance may return with a vengeance, but if large market players again fail to participate, matters look different. Takeaway. Traders and investors should brace themselves for a strong price reversal. The advance is losing momentum. Indicators signal overbought conditions and declining volume speaks of a lack of wider....

Bitcoin price has held above yesterday’s corrective low. Little upside progress shows the market is now taking a break and perhaps reconsidering the trend. The bitcoin price daily charts show an advance that struck out in a straight line from a weak base. Bitcoin price has lost the steady momentum of the past two weeks. It may return after the market takes a breather. We wait for price to either resume advance, or for a sideways correction to play out. A protracted sideways consolidation could end in a reversion to support at $400.

Bitcoin price continues correcting as the prospect of advance dawns on the market. The general hesitancy to join trend is understandable given this chart’s perverse tendency to fake-out on apparent trending moves. The melodrama of decline in the Chinese exchanges has proven to be just that – every time. They cannot sell lower because there is nothing for the bears down there. The potential reversal at $630 looms but seems less likely as 1day MACD crosses above its zero line at the time of writing. Yet, the situation remains: price advance is constrained by the $630 level and the MACD....

EOS is the latest large-cap altcoin to experience a massive price surge in the last few days as alt season gains momentum. The EOS price is in double-digits for the first time since mid-2018 after a parabolic advance that began back in March.According to data from Coingecko, the 20th-ranked crypto by market capitalization is currently sitting above $11.50, delivering close to 100% gains over the last three days.First, the current EOS upward advance is occurring at the intersection of two unique price trends. On the one hand, the EOS/Tether (USDT) trading pair is at the top of the range for....

The rebound in Bitcoin is supporting Litecoin as well. After slumping to a new monthly low, Litecoin is extending its gains to $3.534, up 1.29 percent. I think that a further rise in Litecoin will be a good opportunity to go short. Take a look at the technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure. If we take a look at the chart above, it can be safely said that Litecoin is in a strong downtrend. With Bitcoin still weak, it is proving hard for Litecoin to unshackle from this range. The resistance according to the above trend comes in at around $3.850.....