Bitcoin Price Watch; Decline, Reversal On The Cards?
Here's a look at what we are focusing on in the bitcoin price this evening. We’re big advocates of bitcoin (I guess that goes without saying) and so when price moves as part of a steep decline, it hurts a little. We’ve all got holdings, and these holdings take a hit when the bitcoin price dips. That said, when you trade intraday as we do, a decline is neither positive nor negative, it’s just volatility. We like volatility, and we can take advantage of it if we set up right. In this instance, we set up right, and despite price collapsing from the high 700s to where it currently sits....
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Bitcoin price action has, during the past 24-hours, seen a lower low (for decline since 21 August) established across most exchanges. Although indicators are stretched to the max, additional downside is on the cards. Analysis, below, considers the options. Bitcoin Wave Structure Recount. The Bitstamp chart below shows the lower low established during trade today. This has occurred across all exchanges, and unless price turns up from current levels, we will be best-prepared to anticipate eventual decline to $412. The wave count has been adjusted to accommodate the new low and make provision....
Bitcoin price declined below 1hr chart support in early trade, today, after which price has been drawing sideways. At the time of writing it appears likely that another wave of decline is on the cards. The bitcoin price chart shows indications that favor continuing decline, although confidence is still low so close to the top of the advance. Price action at wave turnings can often extend to a new price extreme as the market adjusts to accept reversal. Although decline seems likely, the bulls can spring another wave to the upside, so refrain from betting too big at the moment. Better trade....
Here's what we are looking to trade in the bitcoin price this evening, according to our two primary intraday strategies. In this morning’s analysis, we highlighted the overnight decline we saw in the bitcoin price on Wednesday evening, and suggested that one of two things would likely happen throughout today’s session. First, that a continuation of the seemingly overarching bearish momentum would see a break of circa 415 flat, and we’d be looking at a potential 400 flat target before the week was out. The second, that the bulls would regain control and we’d see a tapering of the sell off,....
Bitcoin price has, during the past three days, formed a series of lower highs and higher lows in a pattern that resembles the consolidation prior to a decline. There are technical indications that a pull lower is on the cards, but it may not get far. 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 Bitfinex 1-hour chart shows the decline since the....
Here's what we are going to watch for tonight's session in the bitcoin price. Before we get started on this evening’s analysis, there are two things worth pointing out from this morning’s publication. The first, that we remain well within the range we slated, which likely means that we’ve seen the end of last’s night’s decline, at least temporarily. Second, that we did get a brief correction, and we managed to pick out the reversal point almost to the cent. Bragging rights aside, why is this important? Well, it validates our upside key level (i.e. resistance) and suggests there’s probably....