Bitcoin Price Technical Analysis for 2/12/2015 - Pullback Happening As Expected!
Bitcoin Price Key Highlights. As predicted in an earlier article, bitcoin price was prime for a pullback to the broken resistance area visible on its 1-hour and 4-hour time frames. Now that bitcoin price is in the middle of its corrective wave, applying the Fib tool to the latest swing low and high reveals that the 50% level lines up with the area of interest. Bitcoin could be ready to resume its climb pretty soon, as the confluence of Fib levels and inflection points could hold as support for price action. Rising Trend Line. Although bitcoin price appears to be finding support at the....
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We had discussed in the previous Bitcoin price analysis Breakdown Coming? that Bitcoin is expected to breach the floor of the descending triangle, and according to the latest price action and the technical indications, the probability of that happening has increased significantly. Bitcoin is currently trading down 1.41% at $277.10. Technically, both the price action and the technical indicators have turned extremely bearish for Bitcoin, implying that more pain is coming for the cryptocurrency. Bitcoin Chart Structure - With the latest decline, Bitcoin has slumped to a new weekly low of....
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....
During the April 22nd session, bitcoin uncoiled upwards. The 1H chart shows not only a breakout from volatility, but also above consolidation resistance near 230. As the session wound down, the rally stalled around 239 at which point price stalled and formed a bearish divergence with the RSI. (When price makes a higher high and the RSI a lower high). Bitcoin (BTCUSD) 1H Chart April 23. After finding resistance at 239 along with the bearish divergence, price retreated as the April 23rd global session began. The pullback has been weak so far, holding around 233. The technical conditions in....
Bitcoin price appears to be pulling back to the broken channel support before carrying on with its downtrend. Bitcoin Price Key Highlights. Bitcoin price recently broke below an ascending channel support visible on the 4-hour time frame and a pullback is happening. Price could make a retest of the broken channel support before heading further south and resuming its selloff. Bitcoin price fell sharply last week when top exchanges in China halted client withdrawals following a meeting with authorities. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the....
Bitcoin price has surged to $250 and 1600 CNY in what can only be described as magnificent price action. No other market instrument can do this and it is a unexpected reminder of the speculative potential in Bitcoin! 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: 16h50 UTC. Bitfinex 1-Day Chart. From the analysis pages of xbt.social, earlier today: Price could achieve the red daily 200MA that has eluded it for months within the coming....