Bitcoin Price Remains Stagnant Around $600 As Traders Wait for More Definitive Signals
Bitcoin looked poised for the return of at least some volatility last week, however none materialized. Now that price is back above the $600 level on what are still mixed technicals, we think another week or two of sideways chop is most likely in terms of price action over the short-term. Last week we made a point of discussing price volatility, or the lack thereof, because we thought there was a decent chance it could make a return to the Bitcoin markets in the not too distant future. Well, apparently we are not there yet given that the $590 support held over the weekend and we are now....
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Golden crosses and death crosses are key signals that technical analysts use to determine whether an asset is trending upward or downward. How can traders use the golden and death crosses in their trading strategies?Traders typically buy during a golden cross and sell during a death cross. Different traders will have different approaches to crossover signals. Some traders might wait for a confirmed golden or death cross before entering or exiting a trade. Others might use the crosses as confirmation signals in conjunction with other technical indicators.In general, however, the golden and....
Bitcoin Price shows no clear direction and may wander sideways before making a move in the new year. Bitcoin Price Analysis. Time of analysis: 10h00 UTC. Christmas Season. Jim Frederickson had successfully forecast a price low of $305 (Bitstamp) on 18 December. His forecast included a remark that the Bitcoin price chart is unlikely to launch straight into a rally and that a subsequent break below $300 may witness another sell-off. With no definitive indications in the chart, the matter of Bitcoin price direction remains unclear in the short-term and we may have to wait for the end of the....
Bitcoin continues to show strength as it bounces back from profit-taking overnight, making yet another new swing high moments ago. The question on traders mind everywhere is, no doubt: ’How far will this go?” While I have no definitive answers to that question, I can postulate guesses based on what the charts seem to be saying. We have seen this chart a few times in the past few days. The 3rd arc pair will presumably be met in the $1030 area. This arc is typically strong resistance, so my guess is that there will be profit-taking there. However, depending on what happens when price gets....
The bitcoin price hasn’t moved since our last price piece, and $611 remains as the mark where bitcoin makes its present home. However, despite the sideways movement, billionaire Bill Gross seems optimistic One source describes the action: “Things haven’t gone great so far. We’re not down on the markets or anything – we’re a little bit up on our Monday balance – but things have been incredibly dull. When we get action like this, all we can do is sit and wait, maybe dabble with an attempt at a fundamental bias for a bit of variety. The thing is, you only really realize it when you pull out....
Bitcoin isn’t the king of cryptocurrency for nothing. Most major cryptocurrencies have dipped incredibly low on Saturday, and that includes Bitcoin (BTC) but it doesn’t seem to budge. Bitcoin was trading at $39,510 late Friday, down 4%, based on charts by Coingecko, which signals dangerous waters in trading. Traders have incurred monumental losses in equity with this trend. It’s a consolation though that right now Bitcoin and other cryptocurrencies are frequently linked to stocks in terms of volatility in interest rates and market values. Suggested Reading | Metaverse Tokens On....