Bitcoin Price Analysis: Critical Moment For Trend
Bitcoin price touched long-term resistance in the Bitstamp chart, today. Although the picture looks different across different exchange charts it is clear an important moment for the longer-term outlook has arrived. A persistent push higher looks different in different charts. The price action of the past few days has been building additional advancing waves, but the wave patterns themselves do not yet resemble impulsive advance. This does not mean that a rally cannot continue higher – bitcoin price sometimes moves in diagonal waves that consist of 3 wave patterns (ordinarily corrective)....
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After bouncing off the medium-term resistance line and rebounding, Bitcoin’s price has continued its upward movement. It is at the moment at an important medium-term level. What will be the further trend? The fact that Bitcoin couldn’t fortify and turn around at the $418 mark indicates that the recent movement was a rebound towards the upward trend. The continuation of the upward trend depends on the market’s reaction at the key level of $420. That price, where large trading volumes have accumulated, will be a critical level for the whole upward trend. If Bitcoin’s price starts fortifying....
Bitcoin’s upward trend continues. Will this movement reach the $450 mark and set a new maximum? Will the price reach 450? Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up. If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if....
Bitcoin price appears to be slipping from yesterday's high as the market starts taking profit. If trade can hold price above $260 and 1620 CNY for only a few more days, a bullish cross-over in the daily chart will shift the bias in favor of the bulls. 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: 05h15 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price has returned to test the critical $261 / 1620....
Bitcoin price has fallen below the critical support level currently at $261 and 1624 CNY. Analysis looks at potential downside targets. 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: 05h54 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price is retesting the $261 / 1624 CNY level from below. Analysis stands as per yesterday's last update: Price should correct higher (perhaps to above the green 20MA)....
The bitcoin price charts are not giving uniform indications for all exchanges and the divergence is a signal that investors in different localities have different expectations for trend. The charts are equally weighted toward both advance and continued decline. Analysis identifies a critical level that will signal the medium-term direction of trend. 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: 05h24 UTC. BTC-China 1-Hour Chart. From....