Bitcoin Price Technical Analysis for 25/12/2015 - A Quiet Christmas for Bitcoin?
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
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Quiet trade keeps Bitcoin Price in a narrow range just above $300 and 1,900 CNY. On the first day of 2015, the charts have given us a short-term clue for the first time in days. CCN will be providing readers with technical analysis every day throughout the year. Bitcoin Price Analysis. Time of analysis: 12h00 UTC. Bitstamp 4-Hour Chart. Happy New Year, all readers. I declare 2015 a profitable year in the Bitcoin market! The Fib fan line that has been capping the decline since November still imposes overhead resistance. During the final hours of 2014 price had advanced in low liquidity....
Bitcoin has a tendency to spike on Monday and Tuesdays after a quiet weekend with little news. New money is flowing into the different Bitcoin-exchanges and people want more action. This time it is a bit special since it's the little Christmas eve. I believe that Bitcoin might rise with more than 10% on Monday. And here is why I believe so: There will be very little negative news about Bitcoin during the Christmas holidays. Governments (that can make most of the bad news) are off to their own holidays. People are in a happy mood where they want to see positive news. This will keep....
Bitcoin is currently staging a weak technical rebound from lows of $410, but the cryptocurrency faces two resistances which might stall the recovery process. The previous bottom of $433 is expected to act as the primary or immediate resistance. The level of $465 remains a major hurdle for bitcoin. The Christmas didn’t turn out to be merry for the bulls, and it looks like that with the majority of the market participants enjoying the year-end festivities, the cryptocurrency might not cross $465 in haste. The technical indicators are clearly reflecting the bearish undertone. I expect a broad....
After making a low at 1.32 last week, litecoin has been in consolidation. The 1H chart shows the narrow consolidation range between 1.32 and 1.46. Litecoin (LTCUSD) 1H Chart April 20. Here are some observations from the 1H chart:1) The market has been relatively quiet over the weekend, but after price met with the 200-hour simple moving average (SMA), there was a bearish reaction. This shows that bears are in control. 2) The RSI shows a market in consolidation. It is now heading to 30, which could be a sign that the market is reviving the bearish momentum. If the RSI tags 30, and holds....