Bitcoin Price Technical Analysis for 16/11/2015 - Bears, Watch Out!
Bitcoin Price Key Highlights. Bitcoin price has been on a steady decline, erasing most of its sudden gains from earlier in the month. Although bears still seem to be in control, selling pressure could fade once bitcoin price hits support at the $300 mark. Bitcoin price could be due for a quick bounce if profit-taking takes place around the nearby major support zone. Breakdown Possible? Technical indicators seem to be indicating that bearish momentum could stay in play for much longer, as the short-term 100 SMA is below the longer-term 200 SMA. Stochastic is pointing down once more, after....
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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....
Litecoin has gone berserk after breaking out of the trading channel post a brief period of sideways consolidation. The price has jumped an earth shattering 59% since yesterday to hit a fresh 2015-high of $3.194. As the cryptocurrency loses some steam, the price has come down to $2.850. Litecoin's latest price action would have killed the bears, or at least made them broke. But now, even with the unprecedented rise in bullish strength, it isn't worth to buy Litecoin when it has attained stratospheric valuation. Technical analysis of the 240-minute LTC-USD price chart conveys that the....
Litecoin bears have been smoked by the massive 27% rally in the past 24 hours following a high volume breakout from the range I discussed in my previous analysis, New Range. The surreal rise in Litecoin price has also pushed it to the highest level of 2015. Litecoin is currently trading at $3.871, a strong advance from yesterday's $3.047. Litecoin's jump to a fresh 2015-high closely follows Bitcoin's leap to a new June high, as the Greece crisis comes to its D-day. A technical look at the 240-minute LTC-USD price chart above tells that Litecoin has entered the "no-buy" zone due to its....
In the previous Bitcoin price technical analysis Rebounds, we discussed how the cryptocurrency was erasing the losses for the past week. But, the entire positivity was put to rest over the weekend as bears made a comeback and long positions were fast liquidated at the slightest hint of a pullback. Bitcoin, which is now trading at $227.93, has once again come closer to its important buying interest zone of $220-225. As the price decline has pushed the price closer to its crucial support, market participants may also be factoring in a breach of support this time, but I would recommend....
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....