Bitcoin Price Decline Finds Support
Bitcoin price has declined steadily from near $300 for most of the past week. Today, saw the first signs of the decline halting as price ran into the 4-hour chart's 200MA near $276 (Bitstamp). 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: 17h19 UTC. Bitstamp 4-Hour Chart. From the analysis pages of xbt.social, earlier today: A look at the larger 4-hour timeframe chart, and a few things to note here: 1) The stochastics (top) have now....
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The bitcoin price chart took a bearish turn earlier today and analysis looks at the most likely support levels where the bulls might be entrenched. A down-draft during the UTC evening, and an apparently mild sell-off is approaching the 1-hour 200-period moving average. As can be seen in the 1-hour candle Bitstamp chart, above, a few large sellers had pulled down a couple of long candle wicks earlier in the day. The 1hr 200MA (red, red arrow) should offer minor support, but it is more likely that the market gives more credence to the $700 psych level at the top of the orange rectangle. If....
Bitcoin price extended its decline below the $33,000 support zone against the US Dollar. BTC is currently recovering and it must stay above $30,000 to avoid a larger decline. Bitcoin extended its decline below the $33,500 and $33,000 support levels. The price is currently well below $35,000 and the 100 hourly simple moving average. There […]
Bitcoin price pushed to $392 (Bitstamp) and, today, attempted the high again but failed. Once again in tandem with gold, bitcoin price fell away from the high and now approaches support. Will it break or will it bounce? Watch the bitcoin chart in the coming hours to see whether or not price finds support and bounces higher. A surge into an advancing trend was expected – and all the indications were confirmatory – but the irregular base wave formation leaves such an outlook in doubt. The price pattern of the current push higher does not differ from previous corrective waves to the upside.....
Bitcoin price slipped over the edge during weekend trade. Analysis looks at the basic chart indications and potential decline targets. The 4-hour Bistamp chart shows that the market sold price straight through $640 support, from where price has been slowly selling-off toward $600 and 4000 CNY. Although 4hr MACD signals Sunday morning’s decline (magenta circle), the stochastics (top panel) are grouping at their minimum, while RSI has achieved a previous lower low (horizontal blue annotation). The stochastic and RSI indications imply that price may need to correct when decline to $600 has....
Bitcoin price extended its decline below the $33,500 support against the US Dollar. BTC is now consolidating above $32,200, below which it could accelerate lower. Bitcoin started a fresh decline below the $33,500 and $33,200 support levels. The price is now trading below the $33,000 support and the 100 hourly simple moving average. There is […]