Bitcoin (BTC) At $29,000, How Long Will The Consolidation Continue?
Bitcoin remained consolidated over the last 24 hours, altcoins however, have dipped on their charts. Over the last week, the king-coin continued to register lateral price movements on the charts. Ever since November, 2021, price of Bitcoin has consistently moved on the downside. On the longer time frame, Bitcoin has continued to show signs of upcoming bearishness. On a comparatively, shorter time frame the king-coin might be hinting at a price reversal. Over the last 24 hours BTC made no gains. In the last week, it lost about 2% as the coin was mostly consolidating. Currently, BTC is....
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Bitcoin price continues trading into a narrowing range and the market seems to have foregone decline in favor of consolidation. The consolidation floor and expectations going forward are discussed below. Yesterday’s analysis stated that, barring a bullish resurgence, the 1-hour chart stochastics imply bearish bias. The hope was expressed that, if decline sets in, it will be contained above $500. Well, today’s chart saw price decline according to the stochastic indication and, additionally, it appears that the correction since the June high has reached a consolidation floor at Bitstamp $600....
Bitcoin has been consolidating sideways for a couple days since hitting swing high resistance at $780. IMHO it will likely continue to consolidate thus for another day or two. However, having looked at the chart for the past day or two, I am reasonably confident that the upward trend will resume. Take a look at an 8-day chart: As you can see, the 2nd arc stopped the rally in early July. However, that arc has since yielded to buying pressure. The 2nd arc of the pair remains to be broken. It should go without saying that it could conceivably be strong enough to know price back down. Note....
Bitcoin trading is running a sideways consolidation prior to a move higher. Today trade opted for a sell-off that did not achieve great depth of decline. The overall sense is that a base is forming prior to a move to $275 / 1700 CNY. 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 Trading and Price Analysis. Time of analysis: 14h19 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: How long this consolidation will continue is unknown.....
Bitcoin and altcoins are losing bullish momentum and persistent selling at overhead resistance suggests that the current consolidation is far from over. Bitcoin (BTC) continues to trade in a range with the local tops and bottoms coinciding with increased whale activity in the region, according to on-chain analytics resource Whalemap.The range-bound action in Bitcoin has kept the analysts guessing and a few expect the consolidation to continue for some more time, while others anticipate another leg lower.A June 6 Glassnode report said that the aggregated realized losses from long-term....
Bitcoin price might keep forming lower highs and higher lows, staying inside its long-term consolidation pattern. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. However, an upward crossover appears to be brewing and the indicators could keep oscillating, indicating that consolidation might continue. RSI is on the move up, confirming that buyers are trying to regain control and push bitcoin price up to the triangle resistance around $420-430. Stochastic is also pointing up to indicate that buying pressure is resuming. If buyers are strong enough, they....