Bitcoin Price Watch; Can Price Finally Find Some Support?
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday evening’s analysis, we noted that the bitcoin price seems to have settled down a little bit, and that this might indicate some degree of longer-term support. After the recent decline seen across the last week or so, some support is due, because although it seems like things are in freefall right now, they cannot stay that way indefinitely. Markets have to rebalance at some point, and with any luck, we are now approaching the balance point. Of course, it’s impossible to say for sure, but that’s how....
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Here's a look at what we are focusing on in the bitcoin price this morning. Yesterday evening, our primary focus in our bitcoin price analysis was to try and figure out whether price had finally found support, and – in turn – whether this meant we could set ourselves up for a medium-term reversal against the overarching downside trend. We noted that price couldn’t continue to decline indefinitely, and that at some point, markets would have to balance between buyers and sellers, and that chances are, this wouldn’t happen below previous levels – i.e. those from which price rocketed towards....
Ethereum price after collapsing finally managed to find support. $3.00-20 support area holds the key for the longer run and must hold. Intraday Support Level can be $4.00. Intraday Resistance Level may be $4.55-60. Ethereum price recovered well after testing a monster support area. Buyers appeared and defended the $3.00-20 area successfully, and there is a chance that the price may extend its gains in the near term. However, there are a few resistances formed on the upside for buyers. Currently, the price is trading near a bearish trend line formed on the hourly chart (data feed via....
Here's a look at what we are focusing on in the bitcoin price this morning. We don’t want to jinx things, but it looks as though the bitcoin price might have finally settled around current levels. Overnight action brought with it what looks to be some pretty solid support in and around the 910 mark, and price has since recovered from these levels. We’re now trading sideways mid way through the European morning session, and it looks as though this action may continue as we move forward into the afternoon. Of course, given recent action, we can’t say anything like this for sure. However,....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s taken us a little longer than expected, but we’ve finally got some decent momentum in the bitcoin price. In yesterday’s analysis we highlighted the fact that – despite the fundamentals suggesting we might see some action – price had stayed relatively flat across the last week or so. This isn’t necessarily a bad thing, but it doesn’t make for particularly interesting intraday trading. Well, last night, price finally broke through resistance and we managed to get in and out for a quick scalp profit. It looks as....
Earlier this morning we published our pre-session bitcoin price watch piece. We suggested the levels to watch in the bitcoin price throughout today's European session, and pointed out that we had finally seen some action in the bitcoin market over the weekend, and that we would be looking to draw on this volatility to get in and out of the markets today. Action has now matured, and as we head into the Asian session this evening - what are the levels that we are watching tonight, and are we looking at a range bound, or breakout strategy going forward? Let's take a look. First, consider the....