Bitcoin Price Analysis: Short-Term Bearish
Bitcoin price holds a sideways course since the $550 high, and a brief advancing wave has paused at the time of writing. Some bearish technical indications are evident in the chart, but be cautious of selling just yet. Bitcoin price made a run for the upside during the hours prior to this analysis report. As we can see from the various magenta annotations in the chart, the move has caused divergence in various indicators and there are technical reasons to believe that price will turn down – even if it is just briefly. There is a caveat and it will be pointed out after looking at the....
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After a few weekend sessions of narrow sideways consolidation, bitcoin started the week with a bearish breakout at the end of the April 13th (Monday) session. As we can see in the 1H chart, the downtrend remains intact in the near, short-term. Bitcoin (BTCUSD) 1H Chart April 14. Some observations from the 1H chart:1) The 200-, 100-, and 50-hour simple moving averages (SMAs) are sloping down and are in bearish alignment while price remained under all of them. This represents continuation of the bearish bias in this time-frame. 2) The 1H RSI hedl under 60, which reflects maintenance of the....
Bitcoin has been consolidating over the weekend following a bearish swing last week from about 262 down to 230. Then, price started to consolidate between the 230 low and a high around 240. The 1H chart shows the small range where price is now hugging the 50-hour SMA. With the 100-, and 200-hour SMAs still above, sloping down, and in bearish alignment, bitcoin maintains a bearish bias within the consolidation. Bitcoin (BTCUSD) 1H Chart April 13. Bearish Scenario is Favored: Furthermore, the RSI remained under 60, which reflects maintenance of the bearish momentum. The favored scenario is....
Bitcoin price could be ready to resume its selloff upon testing the descending channel resistance visible on its short-term charts. Bitcoin Price Key Highlights. Bitcoin price is still trending lower on its short-term time frames, moving inside a descending channel on its 1-hour chart. Price is on a climb but might be due for a selloff soon since it is already near the ceiling at the channel resistance. A short-term double-top can be seen, also suggesting a reversal from the recent rally. Technical Indicators Signals. The 100 SMA is below the 200 SMA on this time frame, which means that....
Ethereum price is under a lot of bearish pressure, which calls for a test of $10.00, but I think it’s time for sellers to book profits for now. Key Highlights. Ethereum price tumbled further against the US Dollar and traded below the $11.00 support area. There are a couple of bearish trend lines formed on the hourly chart (data feed via Kraken) of ETH/USD, which are acting as a barrier for a recovery. My yesterday’s bearish view paid off since the price moved down further and broke the $11.20 support area. Ethereum Price Tumble. Ethereum price ETH was crushed during the past few hours, as....
Ethereum price managed to surpass a bearish trend line versus the US Dollar, which may help ETH buyers to step up the momentum. Key Highlights. ETH price finally managed to trade higher against the US Dollar and posted a short-term break. Yesterday’s highlighted bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to clear the way for more gains. ETH/USD is now above a short-term resistance and may present another buying opportunity. Ethereum Price Break. Ethereum price after struggling for a few sessions against the US Dollar finally managed to trade....