Bitcoin Price Sees Technical Correction But The Bulls Are Not Done Yet
Bitcoin price extended its increase toward the $28,500 resistance. BTC corrected gains and is currently holding a key support at $27,350. Bitcoin climbed further higher above the $28,000 and $28,200 resistance levels. The price is trading above $27,400 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support near $27,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a move below the $26,650 support. Bitcoin Price Remains Supported Bitcoin price started a decent increase above....
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Bitcoin price is pulling back from its ongoing uptrend, offering bulls a chance to go long at cheaper levels. Bitcoin Price Key Highlights. Bitcoin price retreated upon testing its yearly highs, allowing the correction to materialize as predicted in the previous post. An ascending channel can be seen on the 4-hour bitcoin chart, and price is approaching the floor. Technical indicators are showing that the climb is likely to resume rather than reverse. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the 4-hour chart, confirming that the path of least resistance....
Bitcoin price is retreating upon reaching its yearly highs but bulls could be ready for another push higher after this pullback. Bitcoin Price Key Highlights. Bitcoin price reached the yearly highs around $780 and profit-taking happened as predicted in the previous article. Price is now making a pullback from its recent rally and could encounter more bulls who are waiting at the next area of interest. Technical indicators are confirming that the uptrend could resume once the correction is completed. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to....
The fortification of Ethereum’s price on a key level can lead to a fall. What are the traders’ current expectations regarding the future development of Ether’s market? ETH/USD. One of the scenarios that we have predicted earlier has come into fruition. Ether’s price is fortifying at a key technical level of $11.5. Most bulls see that mark as the peak of a correction toward the upward trend which has started at $8. That’s why the price has stopped falling and remains near that level. However, the resulting flat indicates that there is a counterforce from the bears. The resulting balance....
Bitcoin price looks ready to make a correction from its recent rally, giving buyers a chance to hop in the uptrend at better levels. Bitcoin Price Key Highlights. Bitcoin price recently made a strong rally but it looks like bulls are booking profits. This could offer a nice opportunity to enter on a short-term correction from the sharp climb. Using the Fibonacci retracement tool on the latest swing low and high on the 1-hour time frame shows potential entry points. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside.....
Ethereum Price Key Highlights. Ethereum price retreated from its recent rally upon hitting a high of 0.00294 but might be ready to resume its climb soon. Price has pulled back to the moving averages, which might hold as dynamic support areas, and could gather more bullish momentum. Ethereum price is taking a break from its uptrend but might be due to head north again, if the near-term inflection points hold as support. Correction Over? Technical indicators seem to be suggesting that the ethereum price correction is already over, as stochastic made it out of the oversold region and is....