Bitcoin Price Analysis: Between Trends
Bitcoin price has been holding above the 1-hour 200MA in some charts, and crisscrossing it in others. Common to all exchange charts is the support zone around $240 and 1500CNY. The market may trade price into advance or it may choose the low road. We look for the critical levels to trade from. 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: 17h00 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, at 04h00 UTC today:....
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Bitcoin price is pushing toward its three-month resistance ceiling. Technical and sentiment analysis argue for a return to decline, and fundamental analysis shows that Bitcoin’s value is more fragile than many realize. Friday’s technical analysis concluded that the outlook for bitcoin price is bearish while price fails to break above the prevailing resistance ceiling (blue down-sloping line in the chart). Going forward, technical analysis will be informed by the position of price in relation to this ceiling: if the market can successfully trade price above it, we can expect continuing....
Elliott Waves are a popular yet controversial technical analysis indicator. This post will explore the relevance of Elliott Waves for bitcoin trends. Elliott Waves are a technical analysis indicator to predict future price trends. The principles of Elliott Waves are founded on the belief that markets follow predictable sequences of optimism and pessimism. The sequence of a bull market follows the below pattern. A bear market follows an exact opposite sequence. To learn how to apply Elliott Waves,watch this tutorial by DanV, a very popular Trading View bitcoin chartist.
Analyzing Twitter mentions and Google Trends data is another way traders keep an eye on emerging trends and sector rotations in the cryptocurrency ecosystem. A common saying in the investing world is “The trend is your friend,” a phrase that points to the idea that the majority of the time, sticking with the prevailing market trend will produce positive results.Some of the common metrics used to identify market trends include: technical analysis, which involves studying price charts to spot opportunities; fundamental analysis, which involves looking at a project’s underlying economic and....
Trends play an important role in trading, giving traders a chance to use patterns in the price data to make decisions based on more than simple rises and falls, or worse, gut instinct. But how does one identify and draw a trend on a chart? When looking at bitcoin price charts like the one below, you can't help notice how prices at times seem to move along invisible lines: This can be seen whichever chart timeframe you look at, be it weekly, daily or on a 30-minute chart: Trend lines and trend channels. The lines you see in the charts above are called 'trend lines'. However, it is apparent....
A deeper dive into bitcoin’s fundamentals and recent market trends shows that the price bull run is nowhere near its top.