Bitcoin Price Analysis (Week of May 8th)
The upward dynamic continues on Bitcoin. If the structure of that movement isn’t disrupted, it is likely to grow into a medium-term upward trend. Where might the structure of the upward trend be disrupted? After fortifying at a medium-term resistance line, Bitcoin’s price has undergone a turn to growth. The level of $450.5 could’ve become the peak of a correction preceding a downward trend, but the bears were a minority. Bitcoin’s price is now close to a significant resistance line, where long-term bears could activate and win the advantage. That’s why it’s important to monitor the....
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This week has been interesting has been full of surprises to say the least. From January 13th to January 15th Bitcoin dropped from a weight priced of 264.35 on Bitstamp to a weighted price of 178.83 exactly 48 hours later. Equivalent to around a 32.4% drop in price in only just two days, it was a reminder that Bitcoin is still a young and volatile currency. While the price has gone back up a little bit (price of Bitcoin is at $210.58), Bitcoin is still down 22.21% this week, as of January 18th. Most if not all cryptocurrencies went down with the main exception being Nushares, which is up....
xbt.social analysis has been biased to a decline below $240 for the past week. Yesterday, Bitcoin price dipped below this important support level twice before retreating again this morning. Following a pullback, it is anticipated that the market will return price to this level - a break below it implying decline to at least $235. Readers are alerted to a new analysis update schedule: starting today, daily Bitcoin price analysis will be published at the start of the day (UTC). Articles will be updated with major market events, during the course of the day, where appropriate. This analysis....
Bitcoin price had, during the past week, begun to resemble a rocket path with an extremely distant destination. Calls for an overdue correction seemed futile until price surprised by slamming down 50% of the week's advance. 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: 15h22 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Wild swings at altitude show the large degree of waves that underlie this....
Bitcoin price has advanced above the Fib line that has served as the pivot for consolidation during the past week. During the Asian session, price tagged the 4-hour 200-period moving average and looks set to continue the journey north after a corrective price wave has completed. 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: 12h46 UTC. OKcoin 4-Hour Chart. Also Read: Why The Preference For BTC-China Charts In Analysis? From the....
Bitcoin price continues sideways trade in a narrowing range. Like most of this week's analysis, today's update presents no new information for regular readers, although incidental readers may be interested in the matter-of-fact commentary below. 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: 15h10 UTC. OKCoin 3Month Forward 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Price is pushing higher within the defined....