“Cyclical Nature Of Bitcoin” Could Provide Clues On Continuation Or Correction
Bitcoin is clearly at a pivotal point in its current market cycle. But market cycles aren’t always obvious as to what might occur, even if the when happens to become more clear with time. In the leading cryptocurrency by market cap, Decembers are particularly notable, culminating in most of the asset’s tops and bottoms. With […]
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A turn to growth did not play out on Bitcoin. The price, unable to fortify at a key level, has fallen down to the next significant resistance line. Is the medium-term downward correction continuing? The lack of fortification at the level of $455.5 has indicated that there is no current support for a more powerful upward movement. Consequently, there is just one possible scenario - a continuation of the medium-term downward correction. Bitcoin’s price has dropped to the area around $445 - which is the minimal target for a correction, where most of the traders usually open their deals. In....
Bitcoin’s price is still undergoing a medium-term downward correction. A turn to growth didn’t happen, which means that there is a possibility of the price dropping to the next level. Where might the current correction end? Bitcoin’s price has not reached its top key level. After forming a micro-flat, it has continued its fall. Thus, a new resistance line has formed at $454. The length of the current correction depends on the moment when the advantage will go from the bears to the bulls. Bitcoin’s price has reached a key level at $445, and now there will be either a turn or a downward....
Bitcoin and other assets often develop support and resistance around Fibonacci levels, either through extensions or retracement. The ratios are based on the Fibonacci sequence, which has ties to the Golden Ratio. With the top cryptocurrency so tied to mathematics, the Golden Ratio could provide clues as to where Bitcoin is in its latest market […]
Bitcoin’s price, unable to form a turn to growth, is continuing its downward trend. That movement is approaching a long-term resistance line, from which it may rebound up. The long-term correction is continuing, After breaking through the key level of $455, Bitcoin’s price could not fortify it. The bears were holding the advantage, which led to Bitcoin’s price falling and fortifying below that mark. The downward rebound scenario has played out. The level of $455 remains a point where the downward trend, which has started at $460, could be broken. The downward movement is part of a....
The movement of Bitcoin’s price continues within the limits of the weekly flat. A new upward surge could be a false one, and the price will return back inside the flat. What is needed for the growth to continue? The movement, which is forming at the level of $518, could turn out to be a wave of the flat. Such a probability will be there until a fortification happens. In order to determine which side has the advantage, we need to analyze the nature of Bitcoin’s price movement. The continuation of the upward trend will become the most probable after the scenario of a continued weekly flat....