Bitcoin Price Consolidation Pushes And Pulls
Bitcoin price has pulled lower into its consolidation zone. Although today has potentially bearish bias due to a full moon, there are indications and parameters that could see the advance pick up its pace. Not sure what we’re witnessing in the chart… according to our consistent xbt.social signalling method, the currently declining wave is most likely corrective and we do not seek to trade it. Hopefully, it can complete the ongoing correction so we can progress to the next advancing wave and see some clear and meaningful signals in the chart. An apparent advancing channel (blue parallel....
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Bitcoin price pulls lower toward horizontal support near $560. The outlook remains that the market is engaged in a sideways base formation prior to advance. Price is returning to the consolidation floor today and we watch to see if the support zone above $560 holds. The 4hr chart has its stochastics (magenta circle, top) falling lower – even before they could group at maximum. Notice how RSI (just below the stochastics) has not formed reverse divergence to the upside on today’s high. This is an encouraging sign since the lack of divergences in RSI implies consolidation – narrowing price....
Litecoin started the week mostly in a tight consolidation between roughly 1.45 and 1.50 as we can see in the 1H chart below. Litecoin (LTCUSD) 1H Chart, April 14. Towards the end of the session, the price action of litecoin broke below the 1.45 low and dropped to 1.36 before stalling. Here are some other technical observations from the 1H chart:1) The breakout is continuing an expected process of “chewing” a tail created by a downward spike last week that created a new low on the year around parity (1.00). 2) Price remains under the 200-, 100-, and 50-hour simple moving averages (SMAs),....
Decentraland (MANA) price has been steady in the range of $0.75 to $1.05 as it hovers with intensified upward movement. MANA price on the daily chart is trying to hold the consolidation of the upper trendline from the lows seen on 2021 Decentraland price has managed to hover above 20 EMA and 50 EMA and warming up for the 100 and 200 DMA MANA price has spiked by 0.13% and currently trading at $1.05 Decentraland (MANA) has been sitting within the same region since June 2022. While MANA is looking for ways to escape the consolidation phase, the bulls are unable to maximize their gains. On the....
Bitcoin price decline pulls deeper into the consolidation zone around $650. Below $640 there is a freefall zone to $600, yet a reversal at $640 cannot be ruled out. The Bitstamp 4hr candle chart shows a broad overview of the final large wave to the June high, followed by a correction that quickly slammed down to $560. Subsequent price action had been ambiguous while price went through the paces of a correction – rendering the indicators mostly useless and leading the market into two bull traps prior to slumping once more. On the weekend two declining scenarios were considered: 1) a large....
The Bitcoin price achieved an all-time high of $1162 on 30 November 2013. A subsequent price correction continued for most of 2014 despite increasing mainstream adoption and acceptance of Bitcoin by the likes of computer giant Dell and former competitor PayPal. Bitcoin Price Chart. In September 2014, the Bitcoin price had retraced to near $400 from the $1,162 top after achieving a historically unprecedented growth of 1.4mil percent in less than three-and-a-half years. Drawing channel lines on the long-term Bitcoin price chart yields an interesting prospect of both the end of the decline as....