Bitcoin Price Analysis: Mixed Chart Indications
Bitcoin price advance accelerated today and pushed to $400 (Bitstamp) and 2740 CNY. Although a price correction is overdue, the advance is relentless. Pushing above the significant resistance identified in yesterday’s analysis, the price pattern’s wave count has been revised from an ABCDE structure to a simpler ABC correction. The OKCoin BTC/CNY chart shows the contradictory signals that have characterized the past two weeks: 1) The last wave top has hit multiple Fib extension targets – this implies that a deeper correction (or reversal) should now set in. 2) The fact that the advance has....
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Litecoin has broken out from the two-week trading range we discussed in the previous Litecoin price technical analysis titled Range Trading? as positivity from the Bitcoin market spills over. Litecoin is currently trading at $2.887. Though a breakout may seem as the best indication for the market participants to go long on Litecoin, my advice would be to wait for a close above $2.950 or buy on a dip. But, why do I say this? Read on the technical indications below to find out. I still find the technical indications fairly mixed and therefore, require stronger signals or a low-risk....
Bitcoin price has bounced from yesterday's low and exuberant buying is trading price higher. For now the indications are that price is advancing in a correction - a bull trap. 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: 15h00 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The wave up has reached our expected target but we now face a dilemma: The last hour's candle closed above our designated....
In my previous Bitcoin technical analysis titled Gains Erased, I had mentioned that a trader should create long positions near $240 by maintaining a stop-loss below $238. Those who would have followed this advice would have made a neat profit of roughly $10 as the price rose to $250 after falling down to $240. Due to this strong move, Bitcoin is trading up 0.80% at $248.40. Taking a technical look at the 240-minute BTC/USD price chart above clearly reveals mixed technical indications, and that the game will turn in favor of the party which decides to the make the first strong move. Bitcoin....
The bitcoin price charts are not giving uniform indications for all exchanges and the divergence is a signal that investors in different localities have different expectations for trend. The charts are equally weighted toward both advance and continued decline. Analysis identifies a critical level that will signal the medium-term direction of trend. 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: 05h24 UTC. BTC-China 1-Hour Chart. From....
Bitcoin price slipped over the edge during weekend trade. Analysis looks at the basic chart indications and potential decline targets. The 4-hour Bistamp chart shows that the market sold price straight through $640 support, from where price has been slowly selling-off toward $600 and 4000 CNY. Although 4hr MACD signals Sunday morning’s decline (magenta circle), the stochastics (top panel) are grouping at their minimum, while RSI has achieved a previous lower low (horizontal blue annotation). The stochastic and RSI indications imply that price may need to correct when decline to $600 has....