Bitcoin Continues To Slide But Displays Bullish Divergences On Charts
Bitcoin over the weekend was seen trading below its critical price support as broader market weakness continues. Traders’ confidence in the asset has remained quite low considering the selling pressure in the market. The prices have currently plummeted owing to the news of the Federal Reserve hiking its interest rates. Bitcoin has also displayed profit booking on charts. This could be the reason why prices are falling further. If the asset fails to remain above the $38,000 price level, a short-term downslide could occur. Bitcoin is currently trading in bearish sentiment, however,....
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Bitcoin has been unstoppable from Q2 2020 on, bringing the asset to a new all-time high and restoring interest and bullish momentum in the cryptocurrency market. But as the most dominant crypto asset in the space continues to climb with very few corrections in between, ten of the most widely used technical indicators are now […]
Monero price has been bullish despite the broader market trends. Over the last 24 hours, XMR has continued moving up on its chart. It gained close to 4%. In the past week, Monero price gained significantly as there was a 9% appreciation on the altcoin’s chart. The technical outlook for the coin was bullish on the one-day chart. Monero has experienced low buying pressure over the past few days. The technical indicator now displayed that buying strength was recovering on the charts, which meant that XMR could be headed close to its next resistance mark. With increased demand, XMR could....
Bitcoin price has just exceeded $360 less than an hour, before writing this article. As last week's bullish wave continues to build up, the 2 and 4 hourly charts continue to print higher highs. As I looked through the 1 -2 hourly charts and the 1 day charts, I detected a few signs signaling continuation of this new uptrend, especially, that the price will not face any significant resistance all the way up to $416. Key Resistance Points: Let's take a look at the 1 day (BTC/USD) charts from Bitstamp and plot the 20, 50 and 100 EMAs (look at the below chart) . We can conclude the following:....
This is part of a larger presentation I did at Coinagenda. See the complete slides here. I encourage everyone to quickly go through the slide deck to check the pulse of the global economy. The macro environment looks like one of deflation rather than the inflation that central banks were trying to create. These charts show failed global central bank policy. In this presentation I use simple technical indicators: the 50, 100, & 200 day exponential moving averages for the daily charts and weekly charts and the Relative Strength Index. The reason why is because the charts really speak for....
Last week’s article stated: The bull trend continues to look very strong. 13 of the last 15 days have been green leaving the price as of this writing at US$340. The indicators all remain overbought and extremely elevated. A blowoff top seems to be forming but that can take the price much higher than here. As noted, when the indicators start to diverge from price, it could be a top forming for now that has not happened. As the chart below shows all the indicators are at yearly highs. Price has also moved out of the top of the Bollinger Bands, which shows it’s moving into an extreme....