TA: Bitcoin Consolidates Below $15.5K, How A Correction Could Form

Bitcoin Trading has been in profit-taking mode for the past 24 hours after buyers pushed the Bitcoin price over $300 and 1,900 CNY yesterday. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 14h30 UTC. Bitfinex 4-Hour Chart. Price has corrected to 38% retracement of the advance across all exchanges. We would expect, based on the Elliott Wave Principle and from the Bitcoin chart history, that the correction should pull much lower - to 50% or 62% at least - but trade pushes price back above 38%....

Bitcoin price started a downside correction below $65,000 against the US Dollar. BTC must climb above the 100 hourly SMA and $66,500 to start a fresh increase. Bitcoin started a downside correction below the $66,000 and $65,000 levels. The price is now trading below $66,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $65,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear break above $66,000 and the 100 hourly SMA. Bitcoin Price Consolidates Below $66K....

Bitcoin price started a downside correction from the $54,900 zone against the US Dollar. BTC is now consolidating and it could start a fresh increase if it clears $54,900 Bitcoin is showing positive signs above the $62,500 and $62,000 levels. The price is now trading well above the $62,000 level and the 100 hourly simple […]

Bitcoin price traded above the $14,000 resistance before correcting lower against the US Dollar. BTC is currently consolidating gains and it must stay above the 100 hourly SMA for a fresh increase. Bitcoin started a downside correction after forming a high near the $14,080 level. The price is trading above the $13,600 support and the […]

As we have noted on a few occasions over the last couple of days, action in the bitcoin price has been relatively flat as late. We've seen very few breakouts, and only a couple of spikes that have tested our key levels. This has made trading our breakout strategy pretty frustrating, as the spikes don't validate entry based on the fact that they don't close outside our predefined range. In light of this, and as e head into tonight's Asian session, we are going to switch things about a little. Take a quick look at the chart for an explanation. As you can see, we are tightening things up and....