Technical Analysis: Bitcoin Price Still Bullish, $820 Expected
The bitcoin price has stayed at the same level all week. However, the market has been building a technical trigger and adding bullish consensus, which has sustained all factors that back the next rally from $650 to $820. Fundamentals and political factors promote the next rally, which is expected to increase the bitcoin price $650 to $820. From the current support level determined in the $580 $600 range, bullish consensus allows a sustained, upward movement that will probably ignore every intermediate resistance from the present technical zone to $820. A new cycle has begun, with the....
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Bitcoin price is continuing to make higher highs which confirm the bullish momentum of the market throughout the past few days. We have been adding up the bullish signals via our daily analysis articles this week. Bitcoin Price Technical Analysis. By observing the 1 day Bitfinex BTC/USD charts from tradingview.com (look at the below chart), we can see that bitcoin price closed at increasing highs on 2 successive days. At the time of the writing of this article, the price exceeded $233 and is expected to increase even more to surpass yesterday's closing price. By plotting the MACD on the....
Bears have stomped on all bullish expectations as the expected bullish double bottom gets transformed into a bearish Triple Top pattern. The sell-off can be partly attributed to the profit booking in the leading cryptocurrency, Bitcoin. Each Litecoin is currently worth $1.97 and the price may head lower from here on. Technical analysis implemented on the 240-minute LTC/USD price chart connotes that the value of each Litecoin may drop to $1.88. Bearish Triple Top Pattern Confirmed - Litecoin had been trading between $1.98-2.08 since March 10, registering 5 major price reversals. As the....
Litecoin's bullish technical pattern, the Reverse Head & Shoulders has failed, in line with my expectations. The price has dropped 1.70% to $1.671, just inches away from the strong support level of $1.669. I am expecting this base to be violated in the coming sessions and see sub-$1.600 levels for the cryptocurrency. My bearish outlook is well supported by the technical considerations derived post an analysis of the 240-minute LTC/USD price chart. Litecoin Chart Structure - Earlier, Litecoin faced stiff resistance from near $1.690 level but eventually crossed this barrier on low fuel. As a....
Last week, bitcoin price rose from around $260 all the way upwards to print a high of around $294. We predicted during last week's analysis a bullish run, yet we expected the bullish wave to be strong enough to push the price up to $300. The bullish wave that controlled the market last week led to a new rising support level. By studying the 1 hour Bitfinex (BTC/USD) charts from tradingview.com and plotting the 20, 50 and 100 period EMAs accordingly (look at the below chart), we can notice the following: Since the bullish wave started on the 27th of February, we have been witnessing a....
Bitcoin price has begun advance and yesterday covered a $10 distance from $276 to $286 (Bitstamp). The current technical configuration is bullish and the level we watch with interest is $300. 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: 05h12 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The Bitcoin price chart is in a bullish state across all timeframes: from 5-minutes all the way up to the 1-week....