Bitcoin Price Analysis: Market Chooses Consolidation
Bitcoin price continues trading into a narrowing range and the market seems to have foregone decline in favor of consolidation. The consolidation floor and expectations going forward are discussed below. Yesterday’s analysis stated that, barring a bullish resurgence, the 1-hour chart stochastics imply bearish bias. The hope was expressed that, if decline sets in, it will be contained above $500. Well, today’s chart saw price decline according to the stochastic indication and, additionally, it appears that the correction since the June high has reached a consolidation floor at Bitstamp $600....
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Bitcoin trading is running a sideways consolidation prior to a move higher. Today trade opted for a sell-off that did not achieve great depth of decline. The overall sense is that a base is forming prior to a move to $275 / 1700 CNY. 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 Trading and Price Analysis. Time of analysis: 14h19 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: How long this consolidation will continue is unknown.....
Bitcoin price has been drawing a horizontal path for the past two days and looks ready to take direction. Whichever way the market chooses in the short-term, today's analysis considers the bigger picture. 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 1-Day Chart. From the analysis pages of xbt.social, earlier today: One moving average (200-day) and a line study of the 1-day chart. The BTC-China chart favors this....
The multi-day downside reverse divergence highlighted in yesterday's analysis won out, and a Bitcoin price corrective wave low was struck. Price has now advanced impulsively above both the 1-hour and 4-hour 200MAs and the outlook is very bullish, but a consolidation below $240 and 1480 CNY has the market in two minds. 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 Value and Price Analysis. Time of analysis: 12h37 UTC. Bitfinex 15-Minute Chart. Why The Preference For....
Price is drawing a horizontal path and pulling the moving averages to itself. The market has established a consolidation range between $290 and $300 prior to making the move higher. 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 Value and Price Analysis. Time of analysis: 07h05 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Our outlook has not changed: The market is determined to trade price to above $300 and 1900 CNY but there is....
Bitcoin price is slowly drawing sideways as the market adjusts to the prospect of advance. The mood is cautious but here and there a price spike to the upside reveals that the bulls are rearing to go in the weeks to come. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Value and Price Analysis. Time of analysis: 14h40 UTC. BTC-China 15-Minute Chart. The wave up since $210 has been retraced to 38% and although 62% (or up to 99%) retracement is still possible for this wave to constitute an advance, even a drop to $200 would keep the prospect....