Bitcoin Price Technical Analysis for 16/7/2015 - Awkward Calmness
I had expected a stronger reaction in the Bitcoin markets after the Greek parliament bailout voting results. However, even as Greece's parliament approves austerity measures, Bitcoin's calmness is very intriguing. From yesterday's price observation of $288.89, Bitcoin has edged up marginally to $289.97. Technical analysis of the daily BTC-USD price chart conveys that even though the bulls have the upper hand now, they must not fritter away the advantage. Bitcoin Chart Structure - A closer look at the last 3 candles would help us to gather that the bulls are giving away the achieved gains....
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Bitcoin prices have dropped more than 4% after it became official that Greece would receive funding from both the ECB and the EU and that the Greek banks will open from Monday. In my previous analysis titled Awkward Calmness, I mentioned that a major move was expected in the Bitcoin market and I think now might be a good time for that. Bitcoin is currently trading down 4.18% at $277.84. Technical analysis of the Daily BTC-USD price chart above confirms that the market has reached the support level and buying can be initiated but strict stop-loss should be put in place. Bitcoin Chart....
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.
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
In the previous Bitcoin price technical analysis Rebounds, we discussed how the cryptocurrency was erasing the losses for the past week. But, the entire positivity was put to rest over the weekend as bears made a comeback and long positions were fast liquidated at the slightest hint of a pullback. Bitcoin, which is now trading at $227.93, has once again come closer to its important buying interest zone of $220-225. As the price decline has pushed the price closer to its crucial support, market participants may also be factoring in a breach of support this time, but I would recommend....
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....