Bitcoin Price Sell-Off To $650
Bitcoin price made a corrective high at $705 (Bitstamp) and was then sold off to $650 for the duration of the day. What the market does next will determine trend for the next week. The deep retracement that was anticipated in analysis, last week, has set in and we see the charts currently holding support at $650 (popular USD exchanges) and 4350 CNY. The level also corresponds to a trendline (magenta) drawn from the level from which the corrective advance started. There is no telling what the market will do next. One scenario is that price consolidates into the next wave of advance – and....
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Today we have seen a couple of massive sells taking place on Mt. Gox and now currently there has been put up a sell order of more than 1000 Bitcoins on Bitstamp.net. As you can see from the Bitcoin graph below we just saw a new sell order of 1011 Bitcoins to the price of 641 USD per Bitcoin. Massive Bitcoin Sell order. Could this be related to the latest news about "Thousands of Hoarded Bitcoins Flood the Block Chain in Mystery Transaction"? There could be a big whale trying to sell off his coins, or some of his coins, from earlier Bitcoin-days. If this is so, we will have a "flooded"....
Bitcoin price sold off from just below $450 to $430. The market may be wondering whether this is the start of a downtrend, but wave analysis shows that the advance has more upside in store. A sell-off has drawn a long red candle in the price chart and retraced advance since Friday. According to the wave count in the chart, bitcoin price is apparently extending its 5th waves and has just completed wave 3 of the larger advancing wave. The current sell-off would count as wave 4, and that implies another advancing wave – wave 5. The 4th wave (today’s sell-off) had targeted the area (magenta....
If you’ve acquired some bitcoin, it’s possible you may find yourself wanting to sell. This may be due to a personal change in your financial situation, a desire to get some BTC in the hands of more people or an opportunity to sell at a price increase (in the hopes of buying more bitcoin later, of ...
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....
The bitcoin price chart is becoming ambiguous as it approaches its first large move for the new year. Traders have been actively accumulating bitcoin, yet, regardless a potential sell signal is developing at the larger 4-hour timeframe. It would be a disappointment to see price fall back into decline at the beginning of the year. Although there is no current 4hr chart sell signal, a 20MA and 200MA cross-over at this timeframe has rarely failed to see the market capitulate. Should a sell signal occur then the initial target should be the previous low at $410 and 2550 CNY.