Bitcoin Price Technical Analysis for 24/6/2015 - Reverses, Remember the Stop Loss!
Bitcoin has erased all the gains in the past 24 hours achieved since the breakout. The decline has brought the price down to the crucial support level of $240. Bitcoin's rally to $248 fell short of achieving its primary target of $250. In my previous analysis, Inches Towards Target!, I had stated of a possibility that Bitcoin may witness severe profit booking as the Greece crisis came to an end, and a crack of $240 might just confirm that. Bitcoin is trading down 1.59% at $243.05. Analysis of the 240-minute BTC-USD price chart confirms that bears are increasing the pressure but the final....
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Litecoin bulls have made a great attempt in narrowing the recent losses as the price advanced roughly 1.5% to be trading at $1.797. I had mentioned in my previous analysis, Support Breached, Look to Exit! that market participants should build short positions on rise up to $1.785 by maintaining a stop-loss just above $1.795. Since the stop-loss has been triggered, it only makes sense to adopt a wait and watch strategy until convincing directional signals emerge. The 240-minute LTC-USD price chart indicates that the market may test the patience of the traders for a little longer before it....
Bitcoin briefly topped $250 for the first time since August 19, 2015, hitting a fresh monthly high of $250.09. We concluded the previous Bitcoin price technical analysis Retreats From Monthly Highs on a positive note saying that market participants should not be concerned about the drop and instead go long in Bitcoin near $242 for a target of $250. As can be seen, Bitcoin hit an intraday low of $242.82 before meeting the said target. Bitcoin is currently trading at $248.81, up 1.92 percent. And yes, we stand by our long call! bitcoin price chart. Below are the latest technical....
Litecoin has formed a short-term base around $1.440 and is consistently striving to re-enter the previous trading band of $1.449-1.459. In the past 24 hours, the virtual currency has jumped up to $1.459 - the resistance level - before being brought down to the floor value of the previous trading range. Litecoin is trading at $1.452, up 0.76% from yesterday's observation of $1.441. I had discussed in my previous analysis that Litecoin will reach the level of $1.455, at which market participants may initiate short positions by placing a stop-loss above $1.459. Litecoin has been unable to....
Coinbase was recently in news for introducing Stop Loss feature on its exchange platform. Read further to know more about Stop Loss. Coinbase recently announced the integration of ‘Stop Order’ function which allows its users to trade bitcoin in a convenient fashion without having to deal with drastic price fluctuations. What Is a Stop Order and Why Is It Important? To begin with, a stop order is a feature that allows users to buy or sell any asset on a trading platform when the target asset’s value reaches a particular price point of choice. Stop orders are also known as stop-loss orders.....
In my previous Bitcoin technical analysis titled Gains Erased, I had mentioned that a trader should create long positions near $240 by maintaining a stop-loss below $238. Those who would have followed this advice would have made a neat profit of roughly $10 as the price rose to $250 after falling down to $240. Due to this strong move, Bitcoin is trading up 0.80% at $248.40. Taking a technical look at the 240-minute BTC/USD price chart above clearly reveals mixed technical indications, and that the game will turn in favor of the party which decides to the make the first strong move. Bitcoin....