Bitcoin Price Weekly Analysis - 200.00 as Pivot
Bitcoin Price Key Highlights. Bitcoin price struggled to hold ground and continued to move lower, as a new low below 200.00 was also created. The price has several hurdles on the upside and if it corrects higher it won't be easy for buyers to break 100 SMA. Bitcoin price struggled a lot and there are many signs that more losses cannot be discarded in the near term. Why 200.00 is Important? We highlighted this past week that the price has scope of more losses in the near term with a break of 200.00. There was a solid downside reaction noted in the Bitcoin price this past week, as the price....
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According to today's updated Bitcoin price analysis, the exchange rate has been drawn back to yesterday's low of near $473. The trend is still pointing down, and the indicators show scope for further decline. This analysis update refers to an in-depth Bitcoin price analysis report published on Sunday. Bitcoin Price Going Down? Looking at the hourly Bitstamp chart, price can be seen attempting to break below the central decline channel that has contained price action for the past ten days. If a breach to the downside occurs then the immediate target will be $460 which isweekly pivot support....
The Bitcoin price has advanced throughout both the Asian and European sessions today. Going into the US session price is still advancing with the first signs of divergence starting to show in RSI and MACD. Update 14h00 UTC. Apologies, Readers. I had incorrectly stated that the 1.618 target was at $495 on the Bitstamp chart when it is actually at $492.72. The upper trendline, shown on the 15-minute Bitstamp chart further below, cuts through $495 but does not overlap with the 1.618 level. Price has hit the weekly pivot R1 just below our upside target and should now retrace. Let's await....
The Bitcoin Price has retreated away from yesterday's local high near its two-week upper channel trendline. Trade is seemingly indecisive around its weekly pivot "safety blanket" and the coming European and US sessions should set the direction and thereby clarify the trend. Bitcoin Price Dual Targets. Bitstamp Hourly Chart. The Bitstamp chart shows how trade has fallen below the weekly pivot near $481. A subsequent approach was rejected to the downside, but Asian session traders are pulling price back toward $481, despite the presence of large sell orders placed just above the weekly pivot....
The Bitstamp exchange chart's Bitcoin trading range has narrowed to between $471 and $478. This $7 range has been in effect for almost 36 hours and is a sign that a market consolidation is underway. Update 16h30 UTC. This update was posted after publication of the main article which continues below. Price has launched out of the consolidation area after a gentle start. As described below, trade has paused at the weekly pivot level near $492 and should move sideways-to-down while the market mulls its next move. $493 is the current level of the 200-period moving average and trade breaking....
Key Highlights. The Litecoin price after declining close to $2.90 managed to find bids and corrected higher. There is a contracting triangle pattern forming on the hourly chart, which is likely to pave the way for more gains. The price is placed above the 100 hourly simple moving average (price feed from Bitfinex), which is a positive sign. Litecoin price may move a bit higher from the current levels, but it might find sellers around an important pivot area of $3.80. How important is $3.80 as a Resistance? We mentioned in one of the previous analyses that the bulls appeared around $2.90 to....