Bitcoin Price Support May Be Temporary
The bitcoin price decline halted at the BTCC 4-hour 200-period moving average. The market has spent most of the day milling around this area in the chart and, unless there is a surprise development, seems destined to resume decline. 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: 13h00 UTC. BTCC 4-Hour Chart. From the analysis pages of xbt.social, earlier today: The 4-hour chart above highlights instances where decline had either struck....
Related News
The Litecoin price is looking quite comfortable after yesterday's rally towards the intraday peak of 1.95. There is definitely no need to remind that the sudden upsurge has been influenced by the digital currency locomotive Bitcoin, whose very own value sky-rocketed amid a notable pump. And now when the latter is visibly attempting a new temporary support near 260, Litecoin is doing something similar around the 1.85 mark - like every time. As you can see on the 4H OKCOIN chart above, the technical indicators are exhibiting a near-term bullish bias in the market, because: The Litecoin Price....
Throughout the majority of last week, we saw a sustained decline in the bitcoin price coupled with the odd correction and temporary range bound action. Now the bitcoin price has matured over the weekend, with a fresh set of key levels that we are going to keep an eye on as we head into a new week's trading. What happened over the last 48 hours, what's likely to happen today, and what are the primary levels we are watching as an inference of our intraday bias? Take a quick look at the chart. As the chart shows, we saw a bit of volatility over the weekend, but the overarching trend was....
In my yesterday's analysis, Trapped Again, I had mentioned that a breakdown below the $280-mark could lead to a free-fall in the Bitcoin price. Bitcoin cracked below $280 and is now roughly worth $250. The sudden collapse might have taken many by surprise, but the technical indicators were foretelling this. Now, the same indicators and the reformed chart structure are revealing some very noteworthy details. Bollinger Bands - The crash in Bitcoin price has severely stretched the Bollinger Bands on the lower end, which implies that a temporary support might set in soon. Fibonacci Retracement....
Bitcoin price is rallying this weekend but is this just a relief rally or can BTC regain bullish momentum? Bitcoin (BTC) price dropped severely in the previous week, falling from $19,500 to $16,000. Corrections never occur smoothly as dropdowns are frequently sudden and painful. The recent correction isn’t much different as the drop occurred in a matter of hours. Since then, Bitcoin’s price consolidated above $16,000, which marked a temporary bottom. The primary question is whether the correction is over or not. A determining factor will be whether or not BTC price can reclaim the crucial....
The price of bitcoin is back in the spotlight, but following weeks of sky-high gains, market observers are beginning to assess what could be next. After hitting two-year highs earlier in the week, bitcoin prices fell notably entering Wednesday, nearing correction territory after enjoying a sharp rally. However, several market observers asserted this decline was only temporary, and that the price could push its price higher in the coming weeks. Experts pointed to a number of factors, including rising volatility, the coming decline in bitcoin rewards and falling bond yields and the looming....