Bitcoin Price Advancing Again
Bitcoin price corrected downwards overnight and then pushed higher on the OKCoin futures settlement. Deep retracements still plague nervous speculators but trend remains up. Looking at most exchanges, today, we see a surge higher followed by a drop to near the level from where the surge began. The largest futures contract is the exception. After an initial delay in opening, the OKCoin 3month contract surged more than $20 to the upside, and reflects the expectation of traders until the end of the year. The OKCoin 3month contract now has an average premium of about $10 over the rest of the....
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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.
Bitcoin price continued advancing strongly and cleared $500 with minimal effort yesterday. Sunday trade has been mostly corrective, but there is no strong sign that the advance is over. Bitcoin price has advanced beyond $500 across all exchanges and we now expect price to make its way toward $550 and react to this strong support and resistance level. The current level of price, just below $525 (blue horizontal line), had acted as support and resistance during 2013 and 2014. We could, therefore, expect the market to grapple with this level before advancing to $550 (orange). Like most price....
Bitcoin price has been ticking sideways in a narrow range for days. The more time passes the more uncertain the next move becomes. These are market conditions that should not be traded, and for those that must, namely CoinCompetition entrants, its no mean feat. 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: 16h57 UTC. Bitfinex 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The advancing wave in the center of the....
The Bitcoin price appears to be hanging precariously on the edge of a cliff. However, the failure to decline from current levels strengthens the case that a move up is due. Update. Time of analysis update: 19h35 UTC. A strong surge to the upside is approaching the 1.618 target at $398. The structure of the advancing wave is unusual and it will be interesting to see how it develops. The momentum of the advancing wave implies it will advance beyond the 1.618 Fib extension - if not today, then after a retracement. A resumption of the larger decline seems unlikely today. Bitstamp 15-Minute....
Bitcoin price rose to a high of around $365 earlier today, which is $5 short of yesterday's high. Despite failure to print a higher high today, bitcoin price is still advancing along the new upward sloping trend line that we spotted yesterday. If the market's bulls succeed at sustaining the current buying volume, we can expect the $370 resistance level to be tested within the next 24 hours. Decrescendo Bullish Bursts On The 1 Hour Charts: By examining the 1 hour (BTC/USD) charts from bitstamp (look at the below chart); plotting the 20, 50 and 100 SMMAs and keeping the upward sloping trend....