Bitcoin Price Technical Analysis for 1/10/2015 - That Boring Phase!
Bitcoin's struggle to head higher continues for yet another day as the cryptocurrency extends its boring consolidation phase. From yesterday's observation at $237.60, Bitcoin has dropped to $236.90 but the higher-top, higher-bottom structure is being maintained. In my opinion, that is the only big positive that buyers could take heart from. Technical analysis of the daily BTC-USD price chart suggests that the bulls are still running the show. Bitcoin Chart Structure - As has been marked in the chart above, Bitcoin has been maintaining a higher top, higher bottom pattern even during the....
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As expected, Bitcoin has ended its boring period over the weekend and things have taken an interesting turn as the price rose above strong resistance levels. Bitcoin has jumped 1.4% since Friday's observation to trade at $232.17, a level which is eagerly watched by all market participants. And technically, the current market conditions strongly favor the bulls. Technical analysis of the above presented 240-minute BTC/USD price chart conveys that bulls might eventually take the price higher to $245. Bitcoin Chart Structure - As can be seen from the chart above, consistent buying has pulled....
In the previous Litecoin price technical analysis Flat Action, we discussed that if Litecoin fails to cross the resistance posed by the level of $3.160, it runs the risk of entering into a range. As can be seen, Litecoin has plummeted 4.44 percent to $2.907 as traders resorted to profit taking near the resistance. Another factor weighing on Litecoin is the weakness in the Bitcoin market. However, the good news is that Bitcoin is now close to its support level of $235. Values from the technical indicators overlaid on the daily LTC-USD price chart also suggest that there is an increased....
The Darkcoin price has dropped 0.15% against Bitcoin in the last 24 hours, while it has surged 2% against the USD. Like my fellow Dr. Tamer Sameeh predicted in the previous DRK/BTC analysis, the Darkcoin price continued to trend in a sideways consolidation in absence of enough trade volume. At press time, his prediction seemed to have extended into the March 9th trading session. Darkcoin Price 1H Cryptsy Chart. We have drawn two separate trendlines to indicate the constantly developing congestion in the Darkcoin-BTC market. The same could be indicated by the strictly parallel upper and....
Bitcoin price rose to print a high of around $298 yesterday, before declining to around $288, which touches the rising support level we spotted on Wednesday's analysis, earlier today. It seems like we are witnessing a "whiplash" downwards phase that proceeds a forwards phase that will lead to a breakthrough the $300 resistance level. By studying the 1 hour Bitfinex (BTC/USD) chart from tradingview.com and plotting the 20, 50 and 100 period EMAs accordingly (look at the below chart), we can conclude the following: Since the beginning of March's bullish trend, bitcoin price has been....
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.