Bitcoin Price Technical Analysis for 22/9/2015 - First Conclusive Sign of Breakdown?
In what appears to be the first conclusive sign of an upcoming breakdown, Bitcoin ended yesterday's trading session at the lowest closing for September-to-date. And currently, Bitcoin seems to be staging a fake pullback to entice more market participants to go long without reading too much into the breakdown. Bitcoin is currently trading at $227.92 and the resistance is now at $228.60. In the previous Bitcoin price technical analysis A Disappointing End to the Week!, we discussed how the technical indicators were reflecting the bearish sentiments in Bitcoin, and today, we are going to....
Related News
In my previous Bitcoin price technical analysis First Conclusive Sign of Breakdown?, we discussed how the cryptocurrency was being pressured below its near-term support but also advised the market participants to wait for a close below $220 for a more reliable confirmation. As can be seen, even though Bitcoin closed below its support level, it did not violate the strong floor provided by $220 and has instead jumped up to $230.36. And this is not the end of it. The cryptocurrency has managed to cross two major trendline hurdles and is making repeated attempts to head higher. Let us discuss....
This analysis report take an historical perspective of the BTC/USD price chart. In the absence of the most complete historical price chart, namely that of Mt. Gox, this report will use the BTC-e chart, and try to make sense of all its spikes and idiosyncracies, in an effort to make both medium / long term forecasts and price predictions for the BTC/USD pair. Takeaway. Technical analysis reveals that BTC/USD has a medium term upside target above $2,000 (see chart below). However, there is no conclusive sign that the decline since December 2013 is over. A break above the upper resistance TL....
Litecoin is currently down 1.38 percent at $2.781 as the Bitcoin market registers a breakdown. As mentioned in the previous Litecoin price technical analysis No Trading Zone, market participants have their eyes now set on $2.700, the level which had acted as a support in the past. And further weakness in the Bitcoin market may lead to a breakdown kind of situation in Litecoin as well. Here are the latest technical points from the daily LTC-USD price chart. Litecoin Chart Structure - As can be seen, Litecoin remains capped under the influence of the 30-day simple moving average, the current....
I had said in the previous Bitcoin price technical analysis Can Bitcoin Survive This? with high optimism that the current price level may attract inflow to stem the decline. However, I have been proved wrong. The selling pressure is overwhelming the bulls, and a further increase may lead to a breakdown kind of situation in Bitcoin. Bitcoin is currently available at $255.47, down 0.49 percent. I had also pointed out earlier that if the bulls are thrashed in the next couple of sessions, there will be a higher probability of the price skidding to the consolidation zone near $240. I still....
We had discussed in the previous Bitcoin price analysis Breakdown Coming? that Bitcoin is expected to breach the floor of the descending triangle, and according to the latest price action and the technical indications, the probability of that happening has increased significantly. Bitcoin is currently trading down 1.41% at $277.10. Technically, both the price action and the technical indicators have turned extremely bearish for Bitcoin, implying that more pain is coming for the cryptocurrency. Bitcoin Chart Structure - With the latest decline, Bitcoin has slumped to a new weekly low of....