Bitcoin Price Support Broken
Bitcoin closed just below the arc support it had been resting on for a couple days. As you can see below, the top of the square stopped this advance for 3 days in a row. This break below support does not support the bullish argument. Here can see that the bearish setup from the swing high on a 4-hour chart (Kraken) has also seen a break in support, as price has closed below first arc support (blue arc), and also below the 2×1 Gann angle (red line). As can be observed, the 2×1 was resisting price for quite a while before it just briefly managed to get (marginally) above the angle. All of....
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The relatively slight downward pressure in Bitcoin the last few days strikes me as portending a likely fall in the next week or two. Likely to the area of the support found at ~ 541 a number of weeks ago. I say this because as you can see, price has broken below the 1.618 extension of the pitchfork, as seen above. And… As you can see, it appears that resistance from the Gann 2×1 angle is stronger than the arc support at this point in time. The 2×1 has not been broken but 4th arc support has been broken. If – as seems likely – price breaks below the 4th arc pair in the next day or two, then....
Dogecoin Price Key Highlights. Dogecoin price has been in a steady downtrend for the past few weeks, as price just broke below a short-term consolidation pattern. Price dipped to the 0.000110 level before showing signs of pulling back to the broken support area. Dogecoin price is retracing to the broken support near the 0.000120 level and may be ready to resume its drop soon. 200 SMA Resistance. At the moment, dogecoin price is retesting the broken support near the 38.2% Fibonacci retracement level. This is in line with the 200 SMA, which is above the short-term 100 SMA and indicating that....
Fortunately, last night’s decision to buy bitcoin at around $658 turned out to be quite profitable, up around $30 in under a day. I have not closed that position as I expect that asset to go up quite a bit higher over the next two weeks. Today I want to take another look at ethereum. We last looked at this asset two or three days ago. At that time price was sitting at the top of the square, and also right on the 1×2 Gann angle. I noted that it seemed to have strong support at that level. Because price was sitting exactly on support, I pointed out that this gave us the luxury of placing a....
Price at the time this article was written was: US$225.00. Last week’s article began with: “The price has broken below some significant levels and looks like it's going to test some very important levels below. The 50-day EMA has been a massive wall and it looks like the price has run out of energy trying to get and stay above it. Now a big test is coming, as price has broken below US$231, which has been mentioned in many previous articles as an area that needed to hold. Look for US$220 and the massive support area of US$210 to be tested.” So far the US$220 support level has held, but....
Key Highlights. Dogecoin price finally broke higher as anticipated in one of the recent analyses and traded towards 76.0. 100 hourly moving average was also broken, which was a monster resistance. Looking ahead, the broken resistance at 70.0-72.0 Satoshis might now act as a support. Dogecoin price moving higher is a positive sign in the near term, but buyers need to maintain gains for more upsides. 70.0 As a Support. Dogecoin price surged higher and managed to settle above a monster triangle on the hourly chart as highlighted in yesterday's analysis. The price traded as high as 76.5....