Bitcoin Price Holding $400 Support
Bitcoin price continues trading across critical support just above $400. Maintaining this position is the key to additional advance. Losing it, will open a proverbial can of downside toward the lows of 2015. The bitcoin price chart is looking decidedly bearish, but it is worth pointing out some technical indications and a price pattern that may spare traders getting into a premature short position. The 4-hour chart shows price trading at its 20-period moving average (20MA) and, marginally, above the significant 200MA. The faster stochastic (top panel) has reached its upper extreme. Once....
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Bitcoin price is holding to a previous chart structure after finding support near 2900 CNY and $440. The 1hr 200MA has provided the support discussed in yesterday’s analysis. Currently price is holding an advancing line around the advancing Fib line that has defined price action for the past several weeks. Although the chart looks to be advancing we await a Buy signal before opening any position in the chart.
Bitcoin value is holding price above support near $275 and attempts to sell price down have been foiled by strong buying support. Analysis considers market psychology at the current juncture in the chart, as well as potential outcomes. This analysis is provided by xbt.social with a 3 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: 06h43 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The 1-day 20MA is currently located at $274.80 in the Bitstamp chart....