Bitcoin Price Still Above Support
Bitcoin price continues hovering around $415 and 2690 CNY. The chart’s technical conditions are primed for a break into either rally or decline. The 1hr chart shows how, prior to the last advancing wave, price had traded above the 1-hour 200-period moving average (200MA, red). Currently, price is below this MA. The 1hr 200MA continues drawing horizontally. The Stochastics (top) were descending from their upper maximum but have bounced (without price making a new low) and the stochastics look to be heading up again. Simultaneously, MACD trajectory looked to be pulling momentum below zero,....
Related News
Ethereum is down over 5% and it broke the key $350 support level against the US Dollar. ETH price is testing the $335 support and it remains at a risk of more losses. Ethereum failed to surpass the main $355 resistance zone, and declined 5%. The price is now trading near the $335 support and […]
Ethereum is down over 5% and it broke the key $350 support level against the US Dollar. ETH price is testing the $335 support and it remains at a risk of more losses. Ethereum failed to surpass the main $355 resistance zone, and declined 5%. The price is now trading near the $335 support and […]
Bitcoin price fell slightly below the $220 support level to score a low of $214 before rising up again to $221.71 at the time of my writing of this article. Bitcoin price overshot below the $220 support level; yet, it rapidly corrected itself to rise above $220 during later trading sessions. By looking through the 1 hour (BTC/USD) Bitfinex charts fromtradingview.com (look at the below chart), we can notice how the price dropped to $214 yet the downtrend was reversed a few hours later and pushed the price above the $220 support level. As shown on the below chart, we can see how bitcoin....
We warned in our last column on Bitcoin that the correction had not yet ended. I suggested that there was likely several more days of pain coming for the bulls. The reasons were many, but one of them was that the rise had simply been too steep and too long without a meaningful correction for it to be over in just a day or two. Well, the bottom fell out yesterday. Is that the end of it, or is there more to come? Here we see that the present fall is testing the 4th arc pair for support at 766. Price is also at the same level as a recent swing high. That support could hold, but I am not....
Bitcoin price failed to stay above the $10,750 support and declined sharply against the US Dollar. BTC is holding the $10,200 support, but there is a risk of more downsides. Bitcoin is down 5% and it broke the $10,750 and $10,550 support levels. The price is holding the $10,300 region, but it is well below […]