Bitcoin Price Finding Support?
Bitcoin price dropped back toward $660, overnight, but now seems to be engaged in a sideways base formation. Price action is looking encouraging and now we wait for technical confirmation of an advance. Despite a recent bearish 4hr MACD cross below its zero line we see price maintaining support above $550 (magenta annotation). Price remains above its 1day 200MA and the 1day MACD has pulled out of its steep dive, now leveling out regardless of the overnight drop back to support. We cannot, yet, with confidence, rule out a move toward $500 psychological support, but it is looking....
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Litecoin has been consolidating since finding support at 1.32 This consolidation follows a 3-point divergence between price and the RSI. Then, after a failed bearish attempt to test 1.32, price rallied again and rallied up to 1.46 before finding resistance. Litecoin (LTCUSD) 1H Chart April 17. In the 1H chart, we can see that there was resistance around 1.45-1.46, which was a common support from a previous consolidation. As price falls, we should watch what happens around 1.37. If ltcusd breaks below 1.37, it would break below the 100-, and 50-hour simple moving averages (SMAs) and this....
Bitcoin price is holding to a previous chart structure after finding support near 2900 CNY and $440. The 1hr 200MA has provided the support discussed in yesterday’s analysis. Currently price is holding an advancing line around the advancing Fib line that has defined price action for the past several weeks. Although the chart looks to be advancing we await a Buy signal before opening any position in the chart.
Key Highlights. Litecoin price after finding support around $3.24 traded higher, but facing an important hurdle on the upside. There is a major bearish trend line formed on the 4-hours chart of Litecoin, which is holding gains in the near term. Litecoin price making an attempt to move higher, but sellers are facing some key resistance areas which are needed to be breached. It looks like that after the monstrous decline as mentioned in one of the previous analyses, the Litecoin price is finding buyers around $3.20 support area. The price made an attempt to correct higher, but it faced....
Bitcoin price is showing some recognizable indications in the 4hr chart where price has failed to make new lows and is apparently finding support. A consolidation will be easy to identify and we can expect a series of buy signals when advance begins. However, a sure confirmation of additional decline will be a breach of the supporting blue trendline. Since decline has been complex – and messy – until now, and with many false signals – it is probably best we sit a potential last wave out, unless it is clearly signaled.
Bitcoin price is still hovering close to the long-term rising trend line but could be trying to resume its rally. Bitcoin Price Key Highlights. Bitcoin price has been trending higher on its longer-term time frames, moving above a rising trend line visible on the daily chart. Price recently tested the trend line support and made a bounce, which suggests that bulls are intent on keeping the uptrend intact. The rally is still finding legs but there are technical arguments for a continuation of the climb. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time....