Bitcoin Price Technical Analysis for 9/9/2015 - Another Day, Another Dollar
The popular saying Another Day, Another Dollar seems very apt in the current Bitcoin market which is seeing gains of a dollar a day. Since our previous observation at $242.03, Bitcoin has added $1 to be trading at $243.08. And not much has changed in the chart structure and the technical picture in the past 24 hours. Take a look at the latest case for Bitcoin. Bitcoin Chart Structure - We discussed in the previous Bitcoin price analysis A Couple of Resistances that the cryptocurrency was struggling to cross $244, however, the price went on to hit an intraday high of $246.24 later in the....
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The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
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....
Litecoin is facing pressure just like Bitcoin and has been unable to cross the major resistance level of $2.08. However, as mentioned in yesterday's analysis, it has again respected the 20-day simple moving average of $2.019, boosting investors' morale. The “Long” recommendation is based on the technical analysis done on the 240-minute LTC/Dollar price chart. Here are some noteworthy observations: Price Structure - As can be seen from the chart, the price is floating well above the support level of $1.98 and has recently reaffirmed the 20-day SMA of $2.019 as a support. Sustaining above....