Bitcoin Price Technical Analysis - Larger Correction In The Cards?
Bitcoin Price Key Highlights. Bitcoin price seems to be having trouble resuming its climb, as the virtual currency is still in correction mode against the US dollar. Using the Fibonacci retracement tool on the latest swing high and low on the 1-hour time frame shows that price is stalling around the 38.2% level. Bitcoin price appears to have found support at the 38.2% Fib but is still lacking significant upside momentum, hinting that a larger correction might take place. Ascending Trend Line Support. Dollar weakness has spurred most of the bitcoin price gains recently, as the US currency....
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Bitcoin price is enjoying stronger bullish pressure that’s pushing it up on a much steeper climb lately. Bitcoin Price Key Highlights. Bitcoin price has been making one upside breakout after another, indicating the presence of strong bullish momentum. A steeper rising trend line can be drawn to connect the latest lows of price action on the 1-hour time frame. Price could be in for a shallow pullback to this rising trend line or a larger correction to the nearby area of interest. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA so the path of least....
Bitcoin price is finding support at the 38.2% Fibonacci retracement level but a larger pullback might be due. Bitcoin Price Key Highlights. Bitcoin price is still selling off, moving towards the 38.2% Fib or the $650 area as predicted in the previous article. Price appears to have found a bit of support at this area, forming a long spike after the test and still deciding whether to resume the climb or to make a larger pullback. Technical indicators appear to be suggesting that the correction is still far from over. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the....
Bitcoin price appears to be pulling up from its post-Brexit surge but the short-term uptrend could remain intact. Bitcoin Price Technical Analysis. Bitcoin price made a strong surge on Friday as the UK voted to exit the EU. This could mean an extended period of uncertainty in the financial markets, lending more support for alternative assets like bitcoin. Price appears to be drawing support from the 50% Fibonacci retracement level on the 1-hour time frame and a rising trend line can be drawn to connect the lows since June 22. Technical Indicators Signals. The 100 SMA is below the 200 SMA....
Bitcoin trading achieved a decent rally during the past month and the overdue correction is still playing out. The large range of price movement has created a technical condition in the chart whereby price could drop to new lows, but just as easily resume advance without any technical hindrance. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Trading and Price Analysis. Time of analysis: 14h23 UTC. BTCC 15-Minute Chart. From the analysis pages of xbt.social, earlier....
Bitcoin price appears to be trading inside a rising wedge pattern on the 4-hour chart and is currently testing the bottom. Bitcoin Price Key Highlights. Bitcoin price hasn’t made much headway north after pulling back to a nearby support zone. Price seems to be moving inside a rising wedge pattern, as buyers are trying to push higher while sellers are also putting up a strong fight. Technical indicators are hinting that further gains are in the cards for bitcoin price. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....