Bitcoin Price Finds Status Quo in $415 Range
Markets Weekly is a weekly column analyzing price movements in the global digital currency markets, and the technology's use case as an asset class. The price of bitcoin experienced relative price stability and consistent volume during the seven days through 1st April, maintaining its recent status quo as market participants await resolutions to lingering uncertainties. The digital currency's price has seen modest volatility since the start of March, but some experts have warned that this situation could soon change. While some cited technical indicators in predicting that bitcoin may....
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Litecoin continues to consolidate. In the 1H chart below we see a sideways range roughly between 1.80-1.90. Litecoin (LTCUSD) 1H Chart 25/2/2015. Here are some observations:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are clustered together. This reflects a market that not only has no direction, but has very low volatility. 2) Price has been whipping over and under the cluster of SMAs. This also reflects indecision, but we can already see that by looking at the sideways price action. 3) The RSI has tagged 30, but has been holding below 60 for the most part. This actually....
Last Week’s Review. Last Week we concluded with the following: Bitcoin is in no man’s land sitting here at US$270, the advice to those that dare take it is to do nothing while it finds a direction and just watch as it tries to navigate the US$255 – US285 range. Two scenarios in order of higher probabilities: Bearish: The odds are slightly leaning to more pain in the near future. This could be starting tomorrow as the price drops under our US$255 floor or perhaps even a month from now but there is definitely no indication that we have hit the bottom. Once prices drop under the US$250-255....
The price of bitcoin has fallen since our last piece, this time hovering around $573 at press time. Some feel this was to be expected: things haven’t taken much of a turn since the Bitfinex hack, and news regarding Russia’s latest stance on bitcoin has been slow to hit home. Continued Uncertainty in Bitcoin Markets. One source describes the lack of activity: “Overnight action was relatively flat, and we didn’t manage to get into any positions with the range we had highlighted.” Since last week, no significant changes have occurred in bitcoin’s status, but the analyst remains hopeful:....
Bitcoin Price Key Highlights. Bitcoin price appears to be moving sideways these days, barely able to establish a clear strong direction after its sudden rally and subsequent drop earlier in the month. Price is bouncing back and forth between support at $315 and resistance at $340, and might stay inside this range for quite some time. Technical indicators are suggesting that bitcoin price could keep moving inside its short-term range, although the path of least resistance is still to the downside. Mid-Range Area of Interest. At the moment, bitcoin price is stalling at the middle of its....
XRP has won their right to retain their Amici status, this is a major relief to XRP holders. Judge Torres has denied SEC’s motion to revoke the amici status. Apart from that, Judge Torres has also barred attorney John E Deaton from further proceedings. According to the letter, “Amici can’t participate in the expert challenge […]