Bitcoin Price Technical Analysis for 01/13/2017 – Approaching Key Support Zone
Bitcoin Price Key Highlights. Bitcoin price has been under a lot of bearish pressure recently but could be due for a bounce as it nears a long-term area of interest. On the daily time frame, it can be seen that price is moving above an ascending trend line that has been holding since November 2015. Price is still within the Fibonacci retracement levels so a continuation of the uptrend is a possibility. Bitcoin price sold off sharply in the past week but is currently testing a key support zone around several major inflection points. Technical Indicators Signals. The 100 SMA is safely above....
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Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered the market. As....
Bitcoin price is trending lower but is making a correction to an area of interest before resuming the selloff. Bitcoin Price Key Highlights. Bitcoin price recently broke below a short-term support area visible on the 1-hour time frame. Price found support around the $565 area before showing signs of pulling back. Bitcoin is now approaching the former support zone around $575, which might now hold as resistance. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside, which means that the downtrend could carry on. The 100 SMA is....
Bitcoin price is pushing closer to its November closing highs and technical analysis suggests a price correction to the downside is due. 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: 14h30 UTC. BTCC 1-Hour Chart. From the analysis pages of xbt.social, earlier today: So far, so good for our trade from $315 and 2730 CNY that now seems to be reaching a ceiling. The price wave may not reverse here, but draw sideways before another wave of....
Ethereum gained pace above the $1,300 level against the US Dollar, but it struggled near $1,375. ETH price is approaching a major support and it is likely to bounce back above $1,350. Ethereum faced a strong selling interest near $1,375 and corrected lower. The price is approaching the $1,300 support zone and the 100 hourly […]
Bitcoin has slid another 1.31% to $239.85 and is threatening to break the crucial support zone of $238-240. The decline comes in the aftermath of the fallout between the Greek government and its creditors; the creditors have rejected Greek Prime Minister's bailout proposals and in return, the Greek government turned down the creditors' counter-proposal. In all of this, Bitcoin has remained fairly strong and is still closing above $240. Bitcoin is a risky trade right now: the technical indicators are saying 'sell' while the support zone is still being respected. Check out the technical....