Bitcoin Price Decline Targets $500 Bitfinex
Bitcoin price continues decline as the crowd keeps selling. Bitfinex management, so eager to create an impression of recovery, are once again having their liquidity drained by a relentless sell-off, and this time they can’t cry “hack!” The conditions for decline had been stacking up during the past week. We have both the 4hr and 1hr charts’ MACD falling away below zero (magenta circle in the 4hr chart, above). Traders at xbt.social had been advised to wait for price to break below the support that formed at $580 (Bitstamp). Mindful of the possibility of consolidation above this level,....
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During Sunday night trade the Bitcoin price was sold down to the mid-$60 range, thereby printing a new low (for the past week) in the BTC/USD exchange charts. Analysis still has unfilled targets at $460 and $412, and whilst we are expecting reversal and turning our attention to the next wave up, we need to evaluate what the downside implications are. Update 12h40 UTC. During the European trading session the Bitstamp chart struck $457. BTC-e and BitFinex only declined to $464. A colleague just pointed out that today, 9 September, has a Full Moon. The days surrounding full moon typically see....
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....
Bitcoin price is being traded lower in small price steps as buyers eagerly take advantage of new lows, and profit takers fill in the ending of the current wave of decline. After another correction we could see an additional wave of decline. Will it be foreshortened by buying demand or catastrophic due to mass participation? 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: 15h47 UTC. Bitfinex 4-Hour Chart. Also Read: Why The Preference....
Bitcoin price held above support despite the potential for a large sell-off earlier today. Price was sold down to a supporting level in the BTC/CNY charts but vigorous buying prevented further decline. 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: 12h15 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: In what would have been the juncture from where bitcoin price usually sells off, price maintained....
Jungle Bitcoin Price Analysis Workshop. The Bitcoin price decline has resumed after bulls staged a weak rally to levels around $450. Last week's Bitcoin analysis forecast a retracement to the $450 area and, like clockwork, early Monday trade is showing signs of pushing to our interim target at $400 and perhaps lower. However, the price decline is about to run up against rising channel support. Takeaway. Pattern analysis shows that trend is still heading to the downside. While keeping an eye on continued risk of decline, traders and investors should focus on systematically building their....