Bitcoin Price Breaks to the Downside: What We're Looking at Now
In yesterday evening's twice-daily bitcoin price watch piece, we suggested that we were looking for some volatility during the Asian session through which we could get in and out of the markets according to our breakout strategy. We also suggested that - if action did not present us with this volatility - we could incorporate our intra-range strategy to attempt to draw profit on a flat trade. Action has now matured throughout the evening, and - as we head into a fresh European session - what are the levels that were keeping an eye on the bitcoin price today, and what can we expect from....
Related News
Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called “legacy trendline.” As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested it twice for an upside breakout, but with no success. The TradingView […]
Here's a look at what we are focusing on in the bitcoin price this morning. It seems price is teasing us a little at he moment. Just as we get up to the region around which we can start targeting the 800 flat mark as an initial upside target and – beyond that – use it as resistance, the bitcoin price breaks to the downside and we get a correction to spoil the party. Overnight action did just that. Those who read last night’s coverage will know we were looking at one final upside run ahead of an 800 target, and that price looked like it might well make that run before we got back to the....
Ethereum classic price once again failed to retain the bullish momentum against the Bitcoin, and moved down below the 0.00121BTC support area. Key Highlights. Ethereum classic price consolidating for some time against the Bitcoin breaks a short-term support area. Yesterday’s highlighted bullish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) was broken to ignite a downside move. The broken trend line support at 0.00121BTC may now act as a resistance. Ethereum Classic Price Resistance. ETC price again failed to climb higher, as the 0.00127BTC resistance against the....
Bitcoin price continued on Sunday as it had done on Saturday: quiet trade in a $4 range. Today’s price action seems to be coiling up for a larger move. Another quiet day in the bitcoin price chart with price hugging the 200-hour moving average. Volume remains low but the additional onset of low volatility within a narrow price range gives the impression that a larger move is building pressure in the chart. Longer term constraints remain $449 (Bitstamp) and the horizontal resistance zone up to $470. The price action since Thursday 12th April resembles a base pattern and a Fib extension tool....
In yesterday's twice-daily bitcoin price watch piece, we pointed out 285.86 has presented us with long-term resistance, and that it was proving to be a very difficult price to reach or break above as far as getting in according to a bullish bias was concerned. Once again, overnight on Tuesday, we reached this level and quickly reversed to correct to the downside. With this said, what are the levels that we are keeping an eye on in the bitcoin price today, where did action overnight suggest that price might go during today's European session, and how can we get in and out markets according....