Bitcoin Price Advancing In A Correction?

Bitcoin price continued advancing strongly and cleared $500 with minimal effort yesterday. Sunday trade has been mostly corrective, but there is no strong sign that the advance is over. Bitcoin price has advanced beyond $500 across all exchanges and we now expect price to make its way toward $550 and react to this strong support and resistance level. The current level of price, just below $525 (blue horizontal line), had acted as support and resistance during 2013 and 2014. We could, therefore, expect the market to grapple with this level before advancing to $550 (orange). Like most price....

Bitcoin price pulled lower, today, in what appears to be a larger correction prior to a final wave of advance. While prediction is dangerous, especially about the future (Niels Bohr), there is some evidence in the cart that one more advancing wave is due. This analysis is provided by xbt.social with a 9 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: 14h54 UTC. Bitstamp 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Price made a deep correction today and a wave....

The current Bitcoin price correction, since the 30 June high around $265 and 1665 CNY, has been tracing a path similar to the previous 17-25 June correction. Should the market take this pattern to its logical conclusion, we can expect another advancing wave and for trade to take price to a new high. However, alternate scenarios may be introduced by developments in Greece, this weekend, and technical analysis looks for the pivotal price levels traders should look out for. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and....

Bitcoin price was traded to the prevailing resistance ceiling again, today. This time, it seemed the bulls must challenge an additional obstacle, namely the 4-hour 200MA. A clue that the current sideways stint is a correction can be gleaned from the substructure of the waves labeled A,B,C and D. Each wave consists of three subwaves, that can be labeled ‘abc’ and the ‘c’ wave is impulsive in each case – indicating the direction of the correction. Of course, this structural analysis can equally be applied to advancing waves in the bitcoin chart, but a critical component is lacking in the....

Bitcoin price is advancing in intermittent surges punctuated by hesitant consolidations. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Value and Price Analysis. Time of analysis: 14h00 UTC. Bitfinex 15-Minute Chart. The Bitfinex 15-minute chart shows the massive reverse divergence (magenta) that had occurred between price and RSI as a result of the correction. Reverse divergence heralds trend continuation and should the correction put in another low it is of little consequence - trend is, technically, bound to continue advancing. Bitfinex....