Bitcoin Weekly Price Technical Analysis - More Losses?
Bitcoin is on course to end this week on a bearish note, losing roughly 5% from its previous weekly close of $442. The cryptocurrency failed to cross the resistance posed by the peaks of the past couple of weeks and faltered. Post the sell-off, bitcoin is trading at $419.69. The sell-off occurred yesterday as market participants got tired of the extended consolidation and booked profits. The weekend weakness will make it tough for bitcoin to regain lost ground very soon. It may even witness further price depreciation as it has violated the support lent the low of the last week i.e.....
Related News
Bitcoin has failed to latch onto the weekly high of $466.64, coming down swiftly to $442.38 in a week dominated primarily by the first US interest rate hike in almost a decade. Interestingly, the cryptocurrency failed at the same level in the previous week also. As the week comes to a close on a relatively weak note, it might provide the bears with a much-needed impetus to make Bitcoin less expensive. Image. We will discuss today the weekly BTC-USD price chart from the Bitstamp exchange. The picture is very similar to what we observed in the previous weekly price technical analysis of....
It seems that the big negatives I mentioned in my previous analysis are coming into play, and well. Since yesterday, Litecoin has crashed in excess of 12% and is now trading at $3.980. If Litecoin fails to recover these losses and closes today's session below the strong support of $4.100, we may see a huge decline of 25% in the coming sessions. And I strongly believe that we will see lower levels. Let's take a look at the technical analysis of the daily LTC-USD price chart above. Litecoin Chart Structure - Litecoin had been consolidating above the support level for a considerable time,....
Bulls have faltered in their upward march and given to the bears an opportunity to gain control. As a result, technically important support levels have been breached which could lead to more losses in the value of Litecoin. In my previous analysis, From Resistance to Support!, I did mention that all the long positions must be built with strict stop-losses. Since the supports have been breached, a lot of long positions may have been squared. Litecoin is down 1.66% to $1.771 since yesterday. Technical analysis of the 240-minute LTC/USD price chart reveals that market participants should look....
Key Highlights. Dogecoin price cleared a contracting triangle as highlighted recently, and traded lower. The price remains under the bearish pressure, which means more losses are possible moving ahead. A new weekly low was formed below 55.0 Satoshis, which can act as a support moving ahead. Dogecoin price suffered more losses and created a new low at 54.5 Satoshis, as buyers failed to hold the downside. More Losses. The Dogecoin price weakened Intraday, as sellers managed to clear an important support area in the form of a contracting triangle. We anticipated a break in yesterday's post,....
Key Highlights. Dash price after surging higher corrected lower as forecasted in the weekly analysis. There is a major support building around 0.0125BTC, which is likely to act as a pivot area. A bullish trend line is also formed, which is a crucial barrier for sellers. Dash price correction phase is likely to complete soon, which means buyers might take control in the near term. 0.0125BTC as a support. As highlighted in the weekly analysis, the Dash price surged higher after clearing a couple of major resistances like 0.0120BTC and 0.0125BTC. The upside after the break was stalled around....