Bitcoin Price Technical Analysis for 1/9/2015 - Waiting for that big move
The ongoing spree of extremely thin trading sessions has taken many market participants by surprise. After hitting levels of sub-$200, Bitcoin raced back up to hit $235-237 but very few would have expected the cryptocurrency to have gone tight-ranged since then. Bitcoin is currently trading at $229.14, up 0.94 percent as the bulls manage to keep the price hovering near the resistance. As Bitcoin continues to trade near the recent highs, expectations are rising that the cryptocurrency may eventually pierce the resistance, but let us find out what the latest technical indications are.....
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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....
Bitcoin has crossed the crucial resistance mentioned in A Breakout Everybody's Waiting For!, rising roughly 1.54% to trade at $235.75. The price appreciation has also led to overbought valuation for Bitcoin which might face stiff resistance from the next supply region at around $238. So, should you be buying Bitcoin now or not? Let's find out in the technical analysis below! Technical analysis of the above presented 240-minute BTC/USD price chart indicates that bulls have complete control over the situation and that Bitcoin is a pure buy-on-dips play. Bitcoin Chart Structure - After....
Key Highlights. There was no major move noted in Dogecoin price, and it looks like it is trading inside a range plus waiting for a catalyst for the next move. Range resistance is around 42.0 Satoshis and the support lies around 36.0 Satoshis. There is a sharp divergence noted in the hourly RSI (price feed from HitBTC) that fails to match the current price action. Dogecoin price continued to move inside a tiny range. A break on the either side may ignite some volatility moving ahead. 42.0 Satoshis as a Resistance. We had a look at the daily timeframe chart of Dogecoin price yesterday and....
In my previous Bitcoin technical analysis titled Gains Erased, I had mentioned that a trader should create long positions near $240 by maintaining a stop-loss below $238. Those who would have followed this advice would have made a neat profit of roughly $10 as the price rose to $250 after falling down to $240. Due to this strong move, Bitcoin is trading up 0.80% at $248.40. Taking a technical look at the 240-minute BTC/USD price chart above clearly reveals mixed technical indications, and that the game will turn in favor of the party which decides to the make the first strong move. Bitcoin....