Bitcoin Price Back In Decline?
Bitcoin price fell away from yesterday’s strained highs, but a price correction introduces some uncertainty about what’s next. Previous price patterns suggest the decline will continue, but simple technical analysis helps us plan contingency, and identify the confirmation of decline. xbt.social subscribers opened a short position after a combination sell signal fired in both the 1-hour and 15-min charts, earlier today. It is not unusual for the market to test the 1hr 20MA after an initial wave of decline. Magenta arrows in the 1hr OKCoin futures chart, illustrates this corrective pattern.....
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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....
Profitability in digital assets such as Ethereum is important to investors in the space. With the decline following the bull market, a good number of ETH investors have seen the profitability of their holdings decline significantly. It had fallen below 50% when the price of ETH had broken below $1,000 last month. However, with the recovery at the beginning of August, Ethereum had rallied as high as $2,000, and now the majority are back in profit. 56% Of Investors In Profit The price of ETH had been rejected at the $2,000 level, which had seen the price decline once more to the $1,500....
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