Bitcoin Price Advance Holding For Now

Bitcoin price is holding above the rising support level near $276. Overhead, price faces some obstacles and may not advance immediately, but a larger advance seems more and more likely - with certain risk caveats, as outlined below. 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: 04h33 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: As discussed in yesterday's last analysis post, price has not been....

Bitcoin price has moved strongly on the first day of the new year, and the increased volatility may herald large price distances during 2016. A fifth wave of advance, from yesterday’s low, pushed higher into strong divergence. The market’s initial reaction was to sell-off from the new local high. The 1hr chart has an apparent MA buy signal but it is not yet well-formed, so confidence in the push higher requires additional confirmation. A bullish confirmation of advance will occur when the 1hr 20MA (green) crosses above the 1hr 200MA (red). Once this MA configuration occurs we also want to....

Bitcoin price continues trading above support as 4,000 CNY and $600 holds. Slowing price action implies an imminent ramp-up in volatility, yet technical analysis suggests traders wait for additional consolidation. A bullish price pattern in the 1hr chart may be setting up a surge, however, a look at the 1day chart (above) shows that the indicators are not typically aligned for a strong wave of advance. Horizontal bars show the indicator configuration typically seen at the start of large waves of advance: price is above its 1day 200MA (red). Notice the position of MACD above its zero line....

Bitcoin Price advance has held above $300 and is currently trading around the levels discussed in yesterday's analysis. To strengthen the case for advance price must now proceed to $360. The details of the 30,000 BTC sell order placed below market value have some interesting implications that are considered in today's analysis. Bitcoin Price Holding Steady. Time of analysis: 13h00 UTC. The following Bitstamp 4-hour chart shows Bitcoin price action around the $333 level that is currently the location of the 20-period moving average. The pre-condition for advance has not changed: price needs....

Bitcoin price trend remains up. Advance should retake $630 in the coming days, but a correction may precede a push higher. Price continues pushing higher above its 200-period moving average in the 4hour candle chart (red). The chart is primarily bullish since we see the stochastics rising from oversold (magenta circle, top-right), but an ambiguous indication warns of potential downside as they’re flashing a red divergence dot. This represents a downside risk that traders should be prepared for: price may correct down to the 200MA near $587 before resuming advance. If price can push above....