Bitcoin Price Breaks at a Telling Moment
Well, it came to pass that there was a serious correction the moment bitcoin price got past the 2nd arc pair, as we discussed yesterday. I hope traders pulled their stops in tight as was also discussed. Here is that chart again. Note that the break occurred as soon as the 2nd arc pair could no longer offer support: So what does this tell us? Well, for starters it tells us that we can not ignore this bear setup. The long-term bull case is pretty persuasive, as we have discussed in recent days. But this recent break is pretty undeniable evidence that the market is working itself out....
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Perhaps while you were having your dinner or watching your evening TV programming, you missed a very exciting moment when it comes to the ever-changing price per Bitcoin. On the Mt. Gox exchange, the price actually reached a whopping high of $900 at around 8PM Eastern Monday evening. Just for a frame of reference, that's up $400 from what the price was a little over 24 hours ago, at $500 per coin. The incredible high prompted a brief sell-off, with the price dipping to just over $600, at which point in time buy-ins happened yet again. As of this writing, the price is at about $750. Like....
Bitcoin price continued on Sunday as it had done on Saturday: quiet trade in a $4 range. Today’s price action seems to be coiling up for a larger move. Another quiet day in the bitcoin price chart with price hugging the 200-hour moving average. Volume remains low but the additional onset of low volatility within a narrow price range gives the impression that a larger move is building pressure in the chart. Longer term constraints remain $449 (Bitstamp) and the horizontal resistance zone up to $470. The price action since Thursday 12th April resembles a base pattern and a Fib extension tool....
Bitcoin's price breaks above $16,000, reaching an almost three-year high.
Bitcoin price is climbing in a choppy advance. Is this the base of a large advance, or just an upward correction in a sideways spell? No telling what is happening in the chart… a setup for advance, or decline? Or a long consolidation above $550? The 1hr chart (not shown) continues to signal wildly and we pay it no mind. However, the 4hr chart (above) is interesting because it had previously given us a false buy signal, and is now on the verge of signaling a sell signal. Do we believe it? Not without 1hr confirmation, and the 1hr chart is nowhere near signaling decline in any of its....
XRP price has met with selling pressure each time the bulls tried to move past the $0.48 price level. XRP declined by almost 1% over the last 24 hours. Over the past week, the altcoin depreciated more than 6%. The bulls could be back on the chart if the coin breaks past its immediate resistance level. The technical outlook for XRP signalled that the bears are in control as demand for XRP had fallen. For the bulls to power through, it is important that demand for the altcoin returns to the market. At the moment, all technical indicators have painted a bearish image for the altcoin. If....