Bitcoin Price Collapses, Recovers Upside Break On?
As the markets closed yesterday afternoon, we published the second of our twice-daily Bitcoin price watch pieces. In the article, we noted that-as a response to the upside momentum we had experienced overnight-we should be very careful with our upside trades. Why? Because we expected some profit taking as the speculators took their medium term earnings off the table. Action has now matured overnight and, low and behold, we got exactly what we expected. Having topped out somewhere in the region of $465 overnight, the Bitcoin price collapsed to intraday lows in the mid $430s before....
Related News
Ethereum is attempting an upside correction above $1,325 against the US Dollar. ETH is facing a major resistance near the $1,380 and $1,400 levels. Ethereum started a minor upside correction above the $1,325 level. The price is now trading below $1,400 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover further if there is a clear move above the $1,400 resistance zone. Ethereum Price Recovers Slightly Ethereum extended losses and traded....
Unlike last week, when we tried to incorporate a range of technical charting patterns into our bitcoin price trading strategy, this week’s strategy has been pretty straightforward. When we see s sustained directional bias (in this case, to the upside) it’s often just a matter of stepping up the key levels with each new formation swing high, and rerunning the same approach – similar distance targets, tights stops, nothing too aggressive. In yesterday’s analysis we set up against a potential upside break, and overnight we got the break – not without a brief downside correction, however, but....
Bitcoin extended losses and traded below $19,200 against the US Dollar. BTC found support near $19,000 and started an upside correction. Bitcoin traded as low as $18,916 and started an upside correction. The price is now trading above the $20,000 level and testing the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the 100 hourly SMA and $20,600. Bitcoin Price Recovers Above $20K Bitcoin price started a fresh....
Key Highlights. Dogecoin price is trading near a major resistance area of 40.0 Satoshis, as buyers eye a break. The price is following a support trend line on the hourly chart, which may push the price to higher levels moving ahead. A break above 40.5-40.9 Satoshis is needed for an upside move towards 44-45.0 Satoshis. Dogecoin price looks poised for an upside move likely towards 45.0 Satoshis, if sellers fail to defend the 41.0 Satoshis resistance area. Dogecoin Price Hurdled By Resistance at 41.0 Satoshis: There were a few positive signs witnessed last week throughout Dogecoin's charts,....
Key Highlights. Dogecoin price declined recently and cleared a major support trend line, but it turned out to be a false break. A contracting triangle pattern is formed, which is likely to pave the way for a break in the near term. 100 hourly simple moving average is towards the upside, and acting as a hurdle for buyers. Dogecoin price declined, but the break was not real, which forced buyers to push the price back higher. Break Near? We have been following a couple of patterns this week, and were looking for a break in the Dogecoin price. There was a break yesterday, but sellers failed to....