Bitcoin Price Teetering On The Edge
Bitcoin price is creeping toward the edge of a precipice, but the question is: will decline make it to below the local support floor? Price continues conforming to our expectation of decline. Potentially, decline could target $320 and 2100 CNY, as per the pending abt.social trade recommendation. Since we do not, at this stage, know if price will sell through the support floor, we have to strategise and control trading risk. The circular trendlines (visible to xbt.social members) are not accurately “fitted” at this time, but a sharp drop will certainly confirm their influence, since price....
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Bitcoin trading is prolonging the sideways price path despite several opportunities, during the past few days, to break out of the consolidation into either advance or decline. What is the market waiting for? Bitcoin price fell through both the reference Fib line and its 4-hour 200-period moving average, and still no definitive sell signal has formed in either the 1-hour or the 4-hour chart. The price pattern resembles a base of advance, if viewed a certain way, but it also resembles a B wave teetering on the edge of a precipice – with an imminent sell signal threatening to implode price....
Bitcoin is teetering yet again as bulls struggle to take the currency north of $300. The strength in the US dollar in the anticipation of the interest rate hike is also adding to their troubles. The wait to reach new highs in 2015 may get prolonged if bulls fail to up the ante soon. As can be seen from the 240-minute BTC/USD price chart above, Bitcoin at $292.86 is trading close to its two major support lines, Support Line 1 and Support Line 2. Both hold immense value in the short term as the price has marched up by retesting them several times. Unless the price crosses the two trendlines....
For the Bitcoin price to go to the proverbial moon, all of the stars and planets must align. By the look of things, that scenario is not so impossible to achieve as some people may assume it to be. The financial world is teetering, and the number of problems continues to increase. All of these events are favorable for the Bitcoin economy in the long run, albeit no guarantee for success. Despite what most people tend to believe, the US economy is still in a recession right now. Increased interest rates by the Federal Reserve are a positive sign, but no solution. Albeit things are not....
The San Diego-based cryptocurrency firm Edge has announced the launch of a confidential crypto Mastercard that doesn’t collect KYC data and doesn’t charge transaction fees. Edge’s website notes that there’s “no name or address associated with [the] Edge Mastercard” giving privacy advocates peace of mind.
Edge Reveals Privacy-Centric Crypto Mastercard
The digital currency firm Edge has announced the launch of the Edge Mastercard, a loadable crypto debit card that doesn’t collect KYC data. Edge revealed the Mastercard on Twitter and....
Bitcoin price continues teetering on the edge of a precipice. A valiant effort to escape gravity, late on Sunday, has only seen price slump back toward $650. Unless the buyers capitulate, a large decline seems inevitable. An ABC corrective pattern was anticipated in yesterday’s analysis: If this wave count is correct, then we’d expect the wave C to target the 1.618 Fib extension of wave A at $664. This will also be the approximate level of the 1hr 200MA, as well as a 50% retracement of the decline since 18 July. The C wave did indeed target the 200MA across exchange charts and reached $665....