Bitcoin Price Approaching Overhead Resistance
Bitcoin price eeks it out in a narrow range. Some lows, some highs but none of them to a new extreme. The eventual direction of trend remains unclear. Vigorous upside, today, is approaching an overhead resistance zone that has held back advance since late 2015. Although the latest advance is overbought and diverging, the push higher may have another upside wave in store. Bear in mind that it is not the right moment to bet long just yet. We want to see price establish above the long-term resistance near $432 (Bitstamp) before we consider a buy position. Both the 4-hour (not shown) and....
Related News
Bitcoin is fast approaching a long-watched overhead resistance level formed in the time following its recent rejection at its $19,500 all-time highs. The selling pressure here proved to be quite significant and caused the cryptocurrency to see a strong decline that led it to lows of $16,400. This movement was perpetuated by various factors, including […]
Bitcoin price has been trading in a relatively narrow range of $320-$334 for the past day or so. I expect that it will break out of this range soon. Overhead resistance had been tested and held on a few occasions, but we broke through that resistance as this article was being written. 3-Day Chart. To touch the long term support line, price on the 3-day chart would need to fall to $315. But I would be surprised if it goes there. If it does, it will cause me to sit up and take notice, no doubt. This chart will clear 2nd arc resistance no later than Jan 1, 2015. From there, there will be....
Bitcoin price is attacking overhead resistance and is advancing in a strong wave toward $218. Price has been rejected by a sloping trendline at this level for several days. Will it break through this time? This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 15h10 UTC. Bitfinex 15-Minute Chart. The past two days' sideways correction struck another low at 15h00 UTC and embarked, at first hesitantly, on a steady upward trajectory. By 15h20 the resistance, has not yet been reached. Price has bounced inside the....
Bitcoin price has been bubbling under a strong resistance layer and with an apparent five wave impulse visible in the chart, the market is stumbling over itself trying to position for the Big One. Technical analysis reveals there is tough resistance overhead. 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: 14h19 UTC. Bitfinex 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social,....
Litecoin rises 2.92 percent to $3.098 as it breaks away from the consolidation phase which lasted for 7 consecutive days. This is also the highest closing level for Litecoin in over a month. The rise in Litecoin could also be partly attributed to a strong surge in Bitcoin on the back of a strong momentum breakout. Helped by the price jump, Litecoin is now in the sniffing distance of a crucial overhead resistance which we discussed in the previous Litecoin analysis In a Fix? Below are the latest technical considerations taken from the daily LTC-USD price chart. Helped by the price jump,....