Bitcoin Price Analysis (Week of April 17th)
Bitcoin is currently in a medium-term upward trend. After a continuous flat, the bulls have finally won the advantage. Will that movement become a part of a long-term upward trend? When should we expect a turn to decline? Without forming a turn to decline, Bitcoin’s price has headed towards the upper resistance, where it has fortified and turned to growth. The next significant upper level is $445, that is if the trend’s structure stays intact. The maximum level for a rebound towards the whole upward trend will be at $417. Large trading volumes has accumulated at that level. If the bulls....
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After ending last week in a consolidation range, bitcoin is starting this week with a bullish breakout. Bitcoin (BTCUSD) 1H Chart April 6. There are two breakouts we can see in the 1H chart. 1) The first breakout was during the turn of the month after a few sessions of coiling. At the end of last week, price started to cross above the cluster of 200-, 100-, and 50-hour simple moving averages (SMAs). BTCUSD ended the week pushing at 256 but ended up in another consolidation for a couple of days. 2) Another breakout occurred as the weekend transitioned into the global trading week. In the 1H....
The current upward dynamics on Ethereum and Litecoin markets have the potential to grow into medium-term upward trends. The price of Dash is close to an important long-term level where a long-term upward trend may continue. Ethereum’s price is in a rebound after a continuous fall. This upward movement is natural, because there was no turn in the long-term scope. This rebound can grow into a turn to growth if the upward trend’s structure isn’t disrupted. The level of $7.5 is responsible for the continuation of the downward trend, provided that Ethereum’s price fortifies at it and forms a....
Bitcoin and ether both surged this week, the former hitting a 28-month high and the latter surpassing $20 for the first time. The combined rally of these two digital currencies from 10th June to 17th June helped shed further light on their relationship, a matter that has frequently drawn the attention of market analysts. To date, the price of bitcoin and ether have correlated positively at some points and negatively at others. Since the two both surged in value in the week ending at 12:00 UTC on 17th June, their correlation was positive during the period, though on closer inspection this....
The Market traded a full retracement of the week's zigzagging advance. Weekend trade has pushed the Bitcoin price higher but is it shuffling to the edge of a cliff? 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: 15h29 UTC. BTC-China 1-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The similarities between the tops formed by the two price waves in the chart are....
Bitcoin has made a healthy bounce back since we hit our weekly low of $233 around the night of May 18th. However, Bitcoin only made an additional gain of 1.8% during the week. Between the 17th, and 24th, we’ve saw the Bitcoin price fall from $237 to $232, with most of the 2.1% decline occurring in a couple hours between the 18th and 19th. In that same time frame, we also saw the price shoot back up from $232 to a peak at around $243 on Bitfinex, an additional 4.5% increase in volatility. Long story short, Bitcoin’s price was relatively volatile this week with plenty of up and downswings.....