TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K

Bitcoin is expected to soon see a strong breakout as the price action of the cryptocurrency tightens after the news that the U.S. CFTC is charging BitMEX. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Primed to Break Out, Technical Trends Show Bitcoin’s price action has undergone extreme tightening over […]

Bitcoin price made a return to the previous wave high today and now looks to have resumed an advance. Or has it? The zoomed out BTCC 5min chart shows the articulation (subwaves) of today’s advance clearly. It’s an impulse wave and to be expected in this wave position. That it should be so strong comes as a surprise, but this same over-exuberance is what makes the wave vulnerable to deep retracement. A strong push higher today and many in the market seem to be buying like this is the blockreward-halving rally. If the outlook for additional decline is wrong, then advance beyond the 4hr 200MA....

Ethereum is attempting a recovery wave from the $2,500 support against the US Dollar. ETH price must clear $2,700 and $2,750 to start a strong recovery wave. Ethereum found support near $2,500 and started an upside correction. The price is now trading below $2,700 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,690 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong recovery wave if it clears the $2,700 and $2,700 resistance levels. Ethereum Price Faces Resistance Ethereum extended decline below....

Bitcoin price has been churned into a washing machine lately and today was no exception. On the aniversary of the start of history's largest asset price rally on 5 October 2013, the bitcoin chart, once again, looked primed for a sharp decline. However, by 10h00 UTC speculators snatched price from the claw of the Bear and passed it to the rearing bulls. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h03 UTC. BTC-China 1-Hour Chart.....

Bitcoin prices took a dramatic drop yesterday, despite having given indications that price wanted to go higher. Prices have rallied back to almost the high, but there are now indications that bulls should be wary. Elliott Wave theory suggests that corrective waves often take a 5-3-5 pattern. In this case, it is often the case that the 1st and 3rd waves are related to one another in a Fibonacci relationship. In other words, the third wave might be .618 of the first wave, or often, the waves might be the same size in terms of price. That is exactly what we saw yesterday. The collapse....