TA: Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows
Bitcoin is struggling below the $21,000 zone against the US Dollar. BTC could continue to move down unless there is a clear move above the $20,750 resistance zone. Bitcoin started a fresh decline below the $21,000 and $20,500 levels. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,820 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,000 zone. Bitcoin Price Is Sliding Bitcoin price remained in a....
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Fresh losses are contained only after $2,000 gets wiped from the BTC spot price, with a recovery yet to make an appearance. Bitcoin (BTC) hit new weekly lows into Sep. 28 as risk asset drawdown continued overnight.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: "First new lows" before Q4 recoveryData from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $18,461 on Bitstamp, down almost $2,000 versus the previous day’s high. The change of direction came in lock step with stocks, which turned red after initially heading marginally higher at the Wall....
Shortly before European markets closed for the day on Tuesday, we published a piece highlighting the day's action in the bitcoin price and offering up our suggestions for what would become the levels to keep an eye on as we headed into the evening (GMT) and beyond. The bitcoin price collapsed throughout the day, marking the third considerable decline in as many days, and our primary bias was - reluctantly - a bearish one. Action throughout the night has validated this bias, and further decline now brings us to trade just ahead of 236 flat - a level we have not seen since the end of....
Ascending channels provide a steady signal on the strength of an uptrend and the optimal levels to open positions during a pullback. Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel. An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts.Ascending channel basicsAn ascending channel is formed when the price....
The monthly bitcoin trading competition Coincompetition.com started for just a few hours ago. The trader that has managed to earn the most by the end of the month wins 5 bitcoins (among other prizes). You can trade as you do on a normal bitcoin exchange, but you can also boost each trade 10 times on Coincompetition.com. Whether you use the option and risk more is totally up to you. You can see who's leading the Coincompetition by viewing the leaderboard here. Participants can always join during the month even though the bitcoin competition has started. We are definitely joining the....