TA: Bitcoin Clears $30K, Why This Could Mean Trend Change
Bitcoin started a fresh increase and surpassed $30,000 against the US Dollar. BTC is showing positive signs and might rally further if it clears $30,600. Bitcoin is gaining pace above the $29,500 and $30,000 resistance levels. The price is now trading above the $29,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $29,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if it clears the $30,600 resistance zone. Bitcoin Price Gains Pace Bitcoin price formed a fresh base....
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BTC price at press time: US$248.00. Bitcoin has finally broken above the noted 50 day Exponential Moving Average (EMA) at US$233 and done so with force. It now also sits above the 100 day EMA (~US$241) as well. It’s possible a change of trend could be underway, but it is still too early to tell. This move has been made on very small volume and On Balance Volume confirms this. If the trend is truly going to change, volume should ideally come in.
After having been continuously forming an upward trend, Bitcoin’s price has undergone a powerful downward impulse. Will that affect further growth? The short-term upward trend continues. A sharp change in the trend indicates that the majority of the bulls did not expect a continuation of the trend at that point. The structure of the price is not formed enough for medium-term growth. Currently, the price is going upwards, but it’s also near a medium-term level, which it may bounce off again. The critical rebound level is the price with the largest trading volume, which is $418.5. The upward....
Bitcoin price is currently consolidating below $20,650 against the US Dollar. BTC could start a fresh rally if it clears the 100 hourly SMA and then $20,650. Bitcoin is holding gains above the key $20,250 and $20,000 support levels. The price is trading below $20,650 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the 100 hourly SMA and $20,650. Bitcoin Price Remains Stable Bitcoin price found support near the....
Ripple formed a support base above $1.16 and it is now rising against the US Dollar. XRP price could start a strong increase if it clears the main $1.50 resistance zone. Ripple is showing positive signs above the $1.20 and $1.30 resistance levels against the US dollar. The price is now trading well above $1.3500 […]
Ripple is showing positive signs above the $0.2500 support against the US Dollar. XRP price could start a strong rally if it clears the $0.2550 resistance zone. Ripple recovered nicely and climbed above the $0.2505 pivot level against the US dollar. The price is now trading well above $0.2500 and the 100 simple moving average […]