Bitcoin Price Technical Analysis for 9/10/2015 - Mixed Technicals
Bitcoin sinks for the third consecutive day as market witnesses profit booking. Yesterday's loss also meant that Bitcoin retested the support line of the upward sloping channel, but unfortunately, there are no clear technical indications as to whether the buyers will again lift the price up or will the bears pull the price further down. But keeping a close watch on some key technical levels will be of utmost importance. Bitcoin is currently trading at $242.98, down 0.53 percent since yesterday. Apart from the trading pattern, traders must also heed the below-discussed technical....
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Bitcoin has started this week on a very strong note as it raced higher to $247.53, on course to its highest closing in over a month. In the previous Bitcoin price technical analysis Mixed Technicals, we discussed how a couple of technical indicators were showing divergences from the other two. Well, currently, all of them are displaying much stronger readings. Bitcoin is trading at $247.53, after hitting a monthly high of $248.50. Even though Bitcoin is in a strong uptrend, let us review the latest technical indications to look for factors that may hamper the bullish mood. Bitcoin Chart....
Many times, our readers ask why we use technical analysis for a volatile asset such as Bitcoin. There have been several instances when my price predictions based on technical analysis have gone horribly wrong. But I must admit that it is not exactly a cakewalk to anticipate the future price movements of a security which is yet to be tagged as ‘stable.’ In this article, I will discuss all the factors that deeply affect the action in Bitcoin markets, and why trading with technicals is a tough job for price analysts. China Drives the Bitcoin Market – In March 2015, Goldman Sachs revealed in a....
Bitcoin Price Key Highlights. Just a few weeks after breaking below a bearish pennant on its 4-hour time frame, bitcoin price has formed yet another continuation pattern. Bitcoin price is still stuck inside the triangle or flag formation, with the path of least resistance to the downside since a downtrend is ongoing. Bitcoin price could be due for another break lower, potentially sending it down towards support at the $300 level. Mixed Technical Signals. Technical indicators are giving mixed signals though, which means that a downside break isn't guaranteed yet. For one, the 100 SMA is....
Bitcoin is seeing a tepid start to this week as neither the bulls nor the bears exert any pressure on the other. The cryptocurrency looks relatively calm in the low-volume season, as do the technical indicators. Market participants should refrain from excessive trading in such conditions. Bitcoin is currently trading at $421.53. The technical indicators overlaid on the 4-h BTC-USD price chart from BITSTAMP are giving mixed signals. This, coupled with the lackluster price action, is compelling me to advise that this is a no-trade market, and one should wait for better opportunities to....
Dogecoin price on the 4-hour chart from Hitbtc is giving mixed signals, with the cryptocurrency pair enjoying increased volatility recently. Price has tossed around inside its short-term range but made a few spikes higher and lower, as buyers and sellers still can't pick a clear direction for price action. Technical indicators on the same time frame are giving mixed signals, with some suggesting a potential reversal from the longer-term drop and others suggesting a potential continuation of consolidation. The short-term EMA is still treading below the longer-term moving average, which....