Bitcoin Price Back Above $400
Bitcoin price has climbed back above $400 and 2700 CNY. Whether this is a new wave of advance, or merely a correction prior to more decline remains to be seen. It is within the realm of possibility that the market trade price all the way back to where this decline started last week. More likely, is that the market contest price at current levels, thereby forming either a corrective pattern setting up additional decline or a new base for advance. However, there is not yet a resolution about the looming hardfork, so negative feeling may persist and decline eventually resume. Bitcoin price....
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Bitcoin price has pulled back from its highs near $420. It is not immediately clear if this is merely a price correction or a reversal back into decline. Price had been holding near today’s high at the 4-hour chart’s 200MA. On the last pull lower, price had triggered our xbt.social 1-hour dynamic stop loss and the buy trade is closed. What happens next will be interesting, since we will now see whether trend continues higher or reverses back into decline. Directly overhead is the resistance ceiling (pale blue) that currently overlaps a 2.618 Fib extension of the initial wave of advance of....
The price keeps declining after a long day of bearish trading activity yesterday. The support level of $215 was reached with the bitcoin price experiencing losses around 1.5%. However, the response to sudden downward spikes seems to be positive when compared to activity from other days. The price managed to climb back from the daily low of $215, but there aren't any solid indications that it won't come back down again soon. It had been a rough weekend for BTC/USD. The week's opening wasn't that positive for the bitcoin price either. Some interesting price movements can be seen in the 3hr....
Dogecoin is bouncing back in a way that no one anticipated. The asset posted a weekend recovery the saw the price of the coin breaking above $0.30. The last time the price of Doge was above $0.30 was back in June. Which had been followed by dips that left the price of the asset suffering […]
Bitcoin had a larger than usual fluctuation, gaining 20% in price only to drop 20% back to the original price range, Litecoin broke through it's ceiling reaching $3.80, $4 and $4.20 all the way to a peak of $4.35, only to fall back down to $3.50 where it is now. A correction back to $3.80 is probable. The LTC/BTC pair exchange rate continues decreasing reaching 0.083-0.084. It is projected that if Bitcoin goes lower than $400 for too long Litecoin will most likely fall into a long depression.
Bitcoin price has been declining all day. The failure to continue higher turns our attention back down in the chart. Bitcoin price failed to achieve terminal velocity for a rally, and is now returning to support at $365 and 2450 CNY. According to the smaller timeframe indicators an upward correction should unfold before price reaches support. So, for now, all bets are off until we see the sell signals start compounding.