Bitcoin Price Technical Analysis for 13/7/2015 - Take Some Money off the Table!
In my previous analysis titled Awaiting the Showdown!, I had expressed that a big move would rock the market during the weekend and there is a high probability that it may be on the upside. As we can see, Bitcoin has jumped a huge 14% to cross the $300 barrier and is comfortably trading at $307.87. Intraday, the cryptocurrency hit a fresh 7-month high of $317.99 but stopped short of registering a new high for 2015. However, today's Bitcoin price analysis would focus on whether to stay long or book some profits in the positions. Technical analysis of the Daily BTC-USD price chart indicates....
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On the back of strong bullish pressure, Dash continued with its upward march before peaking out at 0.01610BTC. Dash then fell roughly 10% from the high to touch a low of 0.0145BTC. I had advised in my earlier analysis that the cryptocurrency was highly overbought and that it may be time to take some money off the table. Since the cryptocurrency is currently trading close to its strong resistance level, booking partial profits is the wise thing to do. Each Dash is now worth 0.01505BTC. A technical check of the 360-minute DRK/BTC price chart indicates that the virtual currency may witness....
Bullish bias is still evident in Litecoin even as the cryptocurrency fell sharply from 2.14 to 1.98. As discussed in yesterday's analysis, the recent correction in Litecoin presents to us an incredible opportunity to buy as the price structure strongly favors the bulls. Each Litecoin is currently trading at $2.05. A precise technical analysis on the 240-minute LTC/USD price chart indicates that the digital currency may have bottomed out and head higher to take out the 2015-peak eventually. Technically, Litecoin seems to be enjoying a positive undertone. Price chart and technical indicators....
Litecoin has jumped another 12% since yesterday, adding to its surreal gains and decimating the bears. In my previous analysis, I had recommended shorting the cryptocurrency near $5.300 by placing a stop-loss above $5.500 and Litecoin has proved me wrong. Litecoin is currently trading up 12.41% at $5.379. Technically, Litecoin looks formidable even at these outrageous levels. The 240-minute LTC-USD price chart indicates strong bullish force behind the rise and it has become incredibly difficult for me to comment as to when the profit booking will come in or when the market would realize....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
It has been six consecutive days since Bitcoin took a wide swing on either side. The price has been trapped inside a narrow of $273-283. Bitcoin is currently trading up 0.70% at $277.94. One thing that has happened for the bulls is that the technical indications have improved, but only very slightly. Among these, the Momentum reading which has been a strong reason to worry has shown a tremendous appreciation. Take a look at the technical observations drawn from the daily BTC-USD price chart below. Bitcoin Chart Structure - Consolidation in the cryptocurrency enters the seventh day as....