Bitcoin Price Analysis: Constricted Price Slump
Bitcoin price continues holding a sideways course since the $550 high. Advance to $600 should be next but bull-headed buying into bearish technical conditions prevents the current price correction from completing, thereby, also delaying advance. Price is tending lower but we’re not seeing a uniform combination of xbt.social sell signals across exchange charts. Additionally, the local support level (blue) around $520 in the Bitfinex chart may prevent decline to the 1hr 200MA (red) near $510, so the recommendation is not to take the sell trade at this time. Strong buying is preventing....
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Don’t be alarmed by the current slump in the bitcoin price. In fact, there is still cause for optimism. The market is going through a reversal pattern to the $700 level, where a congestion area should reinforce quotes for another climb to $820, keeping us right on track to hit the projections advanced last week. Bitcoin Price Analysis: Bulls Still in Control. Long-Term Analysis. After testing the lowest support at the $580-$600 level, prices should enter an upward reversal pattern soon, which will allow an initial pull back to $700, extended to Fibonacci´s technical objective at $820. The....
As the price drops to $7.55, the Polkadot (DOT) price analysis suggests that the trend is still bearish. Polkadot price analysis reveals a downward trend DOT/USD has looked for support at roughly $7.49 DOT/USD is encountering resistance at $7.74 Previously trading at about $7.74, Polkadot is now looking for support at about $7.49. The price of DOT/USD is still facing resistance at $7.74, but if it drops below $7.49, it might find support at $7.32. and $7.05. If it declines below that, it might find support there. Around these levels, Polkadot might feel some selling pressure, but if it....
Litecoin is experiencing its biggest price slump ever. When the altcoin went mainstream, litecoin closely followed bitcoin's sometimes extreme price swings, peaking at $40 in late 2013, soon after bitcoin passed the $1,000 mark. However, in less than two months, litecoin has lost that close relationship with its golden sibling, prompting community members and some industry leaders to question litecoin's viability. Barry Silbert, Founder and CEO of SecondMarket, recently posted the following tweet raising the issue: Litecoin price appears to be decoupling from bitcoin. Money rotating out of....
Bitcoin price remains nearly 10% below recent highs, as the major cryptocurrency continues its slump after early last week’s sell off. Since hitting a new all-time high of $61k, BTC has continued to face downward pressure, hovering around the $54,000 price level. The past week’s volatility has resulted in bulls losing nearly $2.6 billion in liquidations, according to ByBt. Understanding Bitcoin’s Recent Price Action There were two major catalysts that led to last week’s sizable […]
Update: Today’s price low has been corrected from the earlier reported $887 to $885.41. After months of a sustained bullish rally, bitcoin price has swung to a significant slump, hitting a low of $885.41 on the Bitstamp Price Index (BPI) today. The dramatic drop comes within a day of bitcoin inching close to its all-time high. The first signs of a collapse began at 09:00 (UTC), when bitcoin was trading at $1,134.78. A thirty-minute trading period saw price fall quickly toward $1,068.84 before rebounding above the $1,100 mark an hour later. Come midday, things took a turn further south as....