Bitcoin Price Decline 100% Confirmed
Bitcoin price decline intensifies. Many participants are expressing anger at the prospect. However, remember that you share this market with bitcoin price whales – some of them orcas feeding on your buy positions, right now. Bitcoin price decline intensifies under the bearish conditions emphasized in yesterday’s analysis post. It’s been a long time since we’ve seen the bitcoin price charts so bearish across timeframes. Of course, there is no other asset out there that even comes close to Bitcoin’s super-fundamentals (censorship resistance, cryptographic security, mathematical consensus),....
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Bitcoin price declined below 1hr chart support in early trade, today, after which price has been drawing sideways. At the time of writing it appears likely that another wave of decline is on the cards. The bitcoin price chart shows indications that favor continuing decline, although confidence is still low so close to the top of the advance. Price action at wave turnings can often extend to a new price extreme as the market adjusts to accept reversal. Although decline seems likely, the bulls can spring another wave to the upside, so refrain from betting too big at the moment. Better trade....
Weekend trade pulled the Bitcoin price below support at $400. At the start of the European session today, an intraday low was printed across exchange charts - $364.79 at Bitstamp. The new low has made decline to $200 a possibility, but it's unlikely to be achieved in a single wave down. Bitcoin Price Swings. Readers who have found this Bitcoin price analysis article because they are looking for more information about Bitcoin's price volatility should look at the following articles: What Happening with the Bitcoin Price? What Affects the Bitcoin Price? What Determines the Value of Bitcoin?....
Overnight, Bitcoin Price made the plunge to long-term support currently near $270. This is an important juncture in the price chart, and the end of decline is finally in sight. Additional decline is possible, and market participants are advised to wait for confirmation that the low has been struck. Bitcoin Price Analysis. Time of analysis: 06h00 UTC. Bitstamp Daily Chart. The Bitstamp daily chart dropped very close to the rising long-term support near $270 and printed a low of $277. The price lows are not being confirmed by the RSI and MACD indicators that are showing severe divergence....
The short-term upward trend is continuing. A major part of bitcoin price trend has already been worked out. Will there be a turn to decline? As was suggested earlier, the impossibility of a fortification at $417.5 has provoked a rebound towards the next resistance line and a turn to an upward trend. As long as the trend’s structure stays intact, the upward movement will continue to the next target. It’s important to note a key level where that rebound is most likely to turn to decline. This lies at the resistance of $417.5. A rebound off it has just confirmed the importance of that level.....
Bitcoin Sub Targets $400. BTC/USD rebounded off its upper channel trendline and has resumed the downtrend. This outcome was discussed last week and with Bitcoin price action remaining inside the decline zone, the implication is a return to the $400 price level. I am going out on a limb here, writing this Bitcoin chart analysis during the Asian session before the European session shows it's hand. Whatever I commit to writing here will be confirmed or invalidated during the next few trading sessions. Takeaway. Decline is in force. Price has been rejected by the decline's upper channel....