Bitcoin Price Technical Analysis for 24/11/2015 - Bears Trying Harder
Bitcoin Price Key Highlights. Bitcoin price is forming a descending triangle pattern with its lower highs and support around $315. Price is currently testing the top of the triangle near the 100 SMA, which has held as a dynamic inflection point in the past. Bitcoin price could be due for a decline to the bottom of the descending triangle, as technical indicators are showing that bears are taking control. More Sell Signals? First off, the short-term 100 SMA is below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. Any pop higher from the descending....
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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....
At the current price of $247.66, Bitcoin is trading more than 2% down from its 24-hour high of $253.75. The downward trend is still evident in the digital currency and bears are entering the market on every rise. It is also expected that volatility will play a major role in the price action going ahead. Presented here is the technical analysis of the 240-minute BTC/USD price chart which makes a strong case for the sellers. Fibonacci Retracements - As can be seen from the chart above, the rise from yesterday's $245.27 to a high of $253.75 was considerably subdued by fresh selling.....
Bitcoin price might be able to break below the channel support if dollar demand picks up in the latter sessions. Bitcoin Price Key Highlights. Bitcoin price is still stuck inside the ascending channel pattern on the 4-hour time frame and still hovering around support. Price has been consolidating above the $450 level for quite some time, as bears are trying to find more energy for a downside break. The FOMC minutes failed to spur dollar demand strong enough for a downside break, leaving bitcoin traders waiting for the next big catalyst. Technical Indicators Signals. The 100 SMA is still....