Bitcoin Price Correction Halted - Bulls Take The Reins Again At $390
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....
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Bitcoin trading joined gold, today, when it halted advance and tipped into correction. Although not a trading recommendation, just yet, technical indications imply a return to at least the January lows. Yesterday’s contradictory signals eventually folded to the side of the bulls as they pushed the advance $10 higher. The bitcoin price move began after gold breached its long-term upper resistance channel last week, and now that gold is correcting strongly from its $1,260 high, the steady bitcoin advance (as evidenced by the momentum indicators, above) also enters correction. That....
Bulls are taking the reins of the price action in the bitcoin across the board, making a solid breakout above the $60,000 threshold, reaching new all-time highs, and it seems The Simpsons “did it again.” In a new episode broadcasted on Sunday, BTC is highlighted in a ticker news feed with the infinite sign. Gamestop Stock Is Also Featured in the Episode The 18th episode titled “Burger Kings” in Season 32 of the popular animated series featured bitcoin (BTC) during a news broadcast, whose ticker news feed at the bottom of the screen listed some U.S. publicly listed....
Bitcoin price took a break from decline, today, and has traded sideways-to-up in a correction. The outlook remains bearish. During the past week we have seen a support floor develop near $370 and 2450 CNY. The market traded price up in an ABC correction from this floor – implying additional decline – and yesterday’s analysis asked whether or not the support floor can be expected to hold. Today, saw the development of the upward correction anticipated in yesterday’s analysis. We know that today’s small rising price wave is corrective because of its context immediately following the upside....
The fortification of Ethereum’s price on a key level can lead to a fall. What are the traders’ current expectations regarding the future development of Ether’s market? ETH/USD. One of the scenarios that we have predicted earlier has come into fruition. Ether’s price is fortifying at a key technical level of $11.5. Most bulls see that mark as the peak of a correction toward the upward trend which has started at $8. That’s why the price has stopped falling and remains near that level. However, the resulting flat indicates that there is a counterforce from the bears. The resulting balance....
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