Bitcoin Price Hovers Around $70K As Volatility Goes Quiet
Bitcoin price started a recovery wave above $68,000. BTC is now consolidating gains above $70,000 and faces hurdles near the $72,200 zone. Bitcoin is attempting to recover but is facing many hurdles near $72,000. The price is trading above $70,000 and the 100 hourly simple moving average. There is a rising channel forming with support at $68,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip again if it trades below the $68,800 and $67,700 levels. Bitcoin Price Stays In A Range Bitcoin price managed to remain stable above the $66,000 zone. BTC started a....
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Bitcoin price has not made any significant move during quiet Saturday trade. The start of day in the US may change that, but for now it looks like continuing inaction will be the prospect. A quiet day in the bitcoin price chart as price sticks close to the 200-hour moving average. Low volume trade keeps price within the constraints of the converging support near $449 (Bitstamp) and the horizontal resistance zone between $462 and $470. The recommendation remains that traders and investors wait for price to establish above the red resistance zone before committing to buy positions.....
In an interesting turn of events over the weekend, Bitcoin saw an abrupt liquidity cascade, with its price tumbling to as low as $76,000. Barely recovered from their weekday losses, BTC investors must be feeling hard done by, as rare weekend volatility sent them further down. One of these investors would be Michael Saylor, whose […]
Bitcoin price continued on Sunday as it had done on Saturday: quiet trade in a $4 range. Today’s price action seems to be coiling up for a larger move. Another quiet day in the bitcoin price chart with price hugging the 200-hour moving average. Volume remains low but the additional onset of low volatility within a narrow price range gives the impression that a larger move is building pressure in the chart. Longer term constraints remain $449 (Bitstamp) and the horizontal resistance zone up to $470. The price action since Thursday 12th April resembles a base pattern and a Fib extension tool....
Litecoin had a very quiet Monday (April 21). As the 1H char shows, it remains in the middle of a consolidation range made last week between 1.32 and 1.46. Litecoin (LTCUSD) 1H Chart April 21. Here are some observations on the 1H chart: 1) Price and the 200-, 100-, and 50-hour simple moving averages (SMAs) are all merging together around 1.41. This reflects a volatility squeeze, a market that has no conviction in any direction. 2) The RSI has been holding under 60, which reflects some bias towards bearish momentum. 3) Note that the times of strongest volume coincided with bearish hourly....
Here's a look at what we are focusing on in the bitcoin price this evening. Ok, so that’s another day done, and it’s been a pretty quiet one. Action in the bitcoin price wasn’t overly volatile, and while we managed to get into one or two positions intrarange, it was nowhere near as ‘fun’ as we noted we hoped it might be in today’s earlier analysis. We’ve got the remainder of the US session ahead, and we’re looking to get in and out on any volatility, with the goal being to close out the week on a high. So, with this in mind, let’s get moving. Take a look at the chart below to get an idea....