Bitcoin Price Analysis (Week of May 29th)
After an almost month-long correction toward the upward trend, Bitcoin has continued its long-term upward movement. What is the nature of that growth, and what should be expected now? The current growth was anticipated. The possibility of the long-term upward trend contuing was evident since May 22. The likelyhood of that movement was determined with the help of a number of interconnected analysis instruments. The market is cyclical. Every movement contains another one, of a lower scale, within itself. The traders’ behavior is manifested in that. The big picture of the market’s sentiment....
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The bitcoin price continued its decline this week, deepening losses that began last week. However, fundamentals suggest there may be reason for optimism in the long-run. Bitcoin was trading at $352 at the start of last week, close to its high for the period. It dropped to a low of $320 on Saturday. It closed the week at $325, losing $27 over the seven days. That's a drop of about 8%. To put the latest price movement in context, last week's Markets Weekly reported the Bitcoin Price Index at a high of nearly $390, before losing $40 over the week. The last two weeks, then, has seen the price....
After hitting a high of $4.85, Litecoin price dropped earlier today to print a low of $4.20 on Bitfinex. As we predicted during yesterday's analysis, price correction is attempting to pull down the price, yet it is well supported above the $3.62 level which corresponds to the 0.618 retracement level according to the Fibonacci retracement we plotted. (Read yesterday's Litecoin analysis here). A Head and Shoulders Pattern on the 1 Hour Charts: By studying the 1 hour (LTC/USD) charts from Bitfinex (look at the below chart) and plotting the 20, 50 and 100 EMAs, we can observe the following:....
The past week waas a week of altcoin trends. Will the current trends continue, or are they going to turn about? ETH/USD. Ethereum has reached the minimal target of the medium-term correction. Trading on that level can provoke a continued fall of Ethereum’s price. Ethereum’s price is at a key level, where the downward movement can be disrupted. In case of a rebound from $12.2 followed by a return to $11, Ethereum has a chance to continue its downward trend. For an extra confimation, Ethereum’s price has to stop at the level of $11, which will display the lack of sufficient support from the....
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....
Solana (SOL) has managed to keep most of its gains over the past 48 hours while most coins bled out. The token started yesterday, September 29th, at $33.25, going as high as $34.34 at midday. Solana (SOL) suffered a loss in value on September 28th, when it dropped from $32.85 to $31.74. However, it quickly recovered before the end of the trading day and has been steadily increasing since then. The Price of SOL currently sits at $33.72 at the time of writing. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins SOL Holding On For Dear Life The past few....