Bitcoin Price Technical Analysis for 31/8/2015 - Another Failed Attempt
In the previous Bitcoin price technical analysis titled Indicators Turning Positive, we discussed that the market participants should remain short on the cryptocurrency. Since then, Bitcoin has touched a high of $235.93 and a low of $226.31 very recently. This was another failed attempt by the bulls, and a further 3-4 percent cut will complete jeopardize their plans. Take a look at the latest technical indications provided by the daily BTC-USD price chart. Bitcoin Chart Structure - There was another reason that made the recent jump unimpressive: Bitcoin failed to head above its previous....
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Bitcoin has registered another failed attempt at crossing the $255 hurdle. The short selling saw the price dip to near its previous low of $236.40 before regaining to the current level of $245.31. I mentioned in my previous analysis that any rise up to $255 can be used to go short in this counter. But interestingly, things may change for the digital currency going ahead. And this has been deduced by technically analyzing the 240-minute BTC/USD price chart. Chart Structure - As can be seen from the chart, the bulls made an attempt to rise above the Downward Resistance (marked above) but the....
Ethereum has dropped 1.5 percent to 0.00197BTC, in line with our bearish expectations. We iterated our short view in the previous technical analysis titled Bitcoin-fueled bounce fades away. The price action in the past 24 hours has been strongly bearish and threatens a further 4% drop in the pair. Chart Structure – The underlying weakness in ETH-XBT forced the pair below the 20 4-h SMA (we discussed this possibility in the previous price analysis). The bulls did attempt to reverse the losses but failed miserably as the bears used the breached moving average as an offloading level. The pair....
In the 1H Litecoin chart, we can see a market that has been consolidating since last week when price action shook and created a range between roughly 1.61 and 1.81. Litecoin (LTCUSD) 1H Chart 2/4/2015. During this consolidation, price action has displayed bearish bias for the most part as ltcusd held under the 200-hour SMA, and for the most part under the 100-, and 50-hour SMAs as well. Meanwhile, the RSI has been holding below 60 after tagging 30. Now as we get into the April 2nd session, price has rallied above the 100-, and 50-hour SMAs and is now threatening the 200-hour SMA. Also,....
Trading with a slightly negative bias, Bitcoin has slipped to $244.28, down 0.94 percent yesterday. Even though the uptrend is intact, Bitcoin has failed to sustain above a key technical level which has led to severe deteriorations in the technical indicators. Let us discuss each of the factors in the technical analysis of the daily BTC-USD price chart below. Bitcoin Chart Structure - As has been marked in the chart above, the upward channel in which Bitcoin has been trading since the last week of September clearly holds. However, as discussed earlier, Bitcoin has failed to sustain above....
Bitcoin trading saw the bulls make a second unsuccessful attempt on the $380 and 2480 CNY level today. Frustrated, the market sold off to support at $355 and 2300 CNY. 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 Trading and Price Analysis. Time of analysis: 14h30 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price was sold off and found support at the level of the previous consolidation that acted as spring-board for the attack on....