Bitcoin Price Consolidation Holds Course
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....
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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....
After making a low at 1.32 last week, litecoin has been in consolidation. The 1H chart shows the narrow consolidation range between 1.32 and 1.46. Litecoin (LTCUSD) 1H Chart April 20. Here are some observations from the 1H chart:1) The market has been relatively quiet over the weekend, but after price met with the 200-hour simple moving average (SMA), there was a bearish reaction. This shows that bears are in control. 2) The RSI shows a market in consolidation. It is now heading to 30, which could be a sign that the market is reviving the bearish momentum. If the RSI tags 30, and holds....
Potcoin Price Key Highlights. Potcoin price could be in for more downside, as it appears ready to make a downside break of the current consolidation pattern. The path of least resistance is down since potcoin price is already in the middle of a downtrend. Potcoin price could be in for more losses, pending a likely downside breakout from the current consolidation support level. Testing Range Support. Potcoin price is currently testing the range support at 0.00000250BTC and might be due for a breakdown, as a long red candle has formed. The 100 SMA is below the longer-term 200 SMA, indicating....
Bitcoin price is setting up for advance but the consolidation process appears incomplete. A large wave of advance into the final months of 2016 is building pressure. The 1day chart confirms that the indicators are setting up for a strong wave of advance. MACD holds above zero and price holds above its 200MA – both bullish signals. For there to be confidence of advance the 1day stochastics (at least the two fastest lines, top) should first group at their minimum prior to a rally. Such a grouping seems likely within a few days to a week. If price drops lower it will speed up the stochastic....
Bitcoin price holds steady and the reward halving has not seen any surprises in the mining sector. Price seems to be preparing for advance – not today – so, time to do something else than check the bitcoin price chart like a squirrel for nuts! The “halvening” caused no immediate fireworks, other than the sharp drop a few blocks prior to the event. Yet, we did not see a new low and price is holding a sideways path. The price wave since last week’s low has a look of consolidation about it. However, we won’t base any trades on such a tea-leaf reading: there is currently no clear signal to....