Bitcoin Price Correction Looms
Bitcoin price had, during the past week, begun to resemble a rocket path with an extremely distant destination. Calls for an overdue correction seemed futile until price surprised by slamming down 50% of the week's advance. 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 Price Analysis. Time of analysis: 15h22 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Wild swings at altitude show the large degree of waves that underlie this....
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Bitcoin may undergo a significant price correction before the US presidential election due to its proximity to gold, hints Clem Chambers. The CEO of ADVFN – Europe’s leading stocks and shares website, told Kitco News that most assets that have shown a positive correlation during the 2020 bull run tend to fall in tandem. He spoke about gold and how a “flash crash” in its markets could leave other assets in a similar bearish spell. […]
Bitcoin price continues correcting as the prospect of advance dawns on the market. The general hesitancy to join trend is understandable given this chart’s perverse tendency to fake-out on apparent trending moves. The melodrama of decline in the Chinese exchanges has proven to be just that – every time. They cannot sell lower because there is nothing for the bears down there. The potential reversal at $630 looms but seems less likely as 1day MACD crosses above its zero line at the time of writing. Yet, the situation remains: price advance is constrained by the $630 level and the MACD....
The Bitcoin price hit $397.75 during the US trading session yesterday and has since retraced to $380. Trade has slipped back below the 20-period moving average on the 4-hour chart and downside looms... but where is it? Bitcoin Price Decline Doesn't Want to Play. The 15-minute Bitstamp chart shows the upward curve of price action as it advanced toward $400. The wave high was $397.75 which is slightly below the $398 target defined by the 1.618 Fib extension of the initial wave of advance. However, drawing Fibonacci extensions from the first subwave of the advancing wave yields wave divisions....
Bitcoin price correction started yesterday after we spotted a "Bearish engulfing" candlestick pattern on the 4 hour (BTC/USD) charts throughout yesterday's analysis. Price correction pulled the price all the way down to $390, but thereafter we started spotting signs that signaled cessation of the downside price correction attempt. Price Correction Slowing Down on 4 Hour Charts: By analyzing the 4 hour (BTC/USD) charts from Bitstamp; executing Bollinger Bands and keeping the 38.2%, 50% and 61.8% Fibonacci retracement levels we plotted during our analysis on the 2nd of November, we can....
Ethereum price is back in the bullish zone after a mild correction against the US Dollar, and it looks like ETH/USD may break $10.65 soon. Key Highlights. ETH price gained pace after a correction towards the $10.35 support against the US Dollar. This week’s highlighted connecting resistance trend line on the hourly chart of ETH/USD (data feed via SimpleFX) is still acting as a resistance near $10.65. The price may once again correct a few points down before making an attempt to break $10.65. Ethereum Price Resistance. There was a minor correction initiated in ETH price against the US....