TA: Bitcoin Extends Losses, Why $30K Holds The Key For Next Wave

The market is continuing to break down as we have been expecting on these pages for the past several weeks. While I believe that the bear market will come to an end rather soon, I also anticipate that the market may finish its bear season with a vicious roar. I have stated on more than one occasion that I suspect that $316 will hold (on a daily closing basis). However, it would not surprise me if there were to be an intraday spike low that reached lower in the days ahead. For Elliott Wave reasons, I would be VERY surprised if the price went below $266, even briefly. Elliott Wave has but a....

ATOM fell towards a three-week low on Thursday, as crypto markets were victim to yet another red wave. Overall, markets are down nearly 5% as of writing, with GRT dropping by almost 10% lower on the day. Cosmos (ATOM) ATOM dropped towards a three-week low during Thursday’s session, as global crypto markets were nearly 5% lower. Following a peak of $10.46 on hump-day, ATOM/USD slipped to an intraday low of $9.23 earlier in today’s session. This move sees ATOM back to its long-term support level of $9.30, which has mainly been holding firm since May 12. However, with prices....

After earlier spells of consolidation, the tide turned on cryptocurrencies this afternoon, with markets finding themselves in a red wave. Quant managed to evade the wave, climbing by as much as 20% during the session. Biggest gainers Following yesterday’s strong gains, the global cryptocurrency marketplace was trading over 6% lower on Wednesday, however, there were some notable exceptions. Quant was one of these exceptions and was easily one of the biggest movers in the crypto top 100 during today’s session. QNT/USD hit an intraday high of....

Yesterday's final analysis post identified a set-up for another wave of advance. Bitcoin price action, since, has confirmed the potential move - and it is, apparently, now underway. 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: 14h54 UTC. BTC-China 4-Hour Chart. From the analysis pages of xbt.social, earlier today: The chart, above, is a 4hr BTC-China chart, but the price pattern is consistent across eight of the most popular exchange....

Bitcoin price sold off from just below $450 to $430. The market may be wondering whether this is the start of a downtrend, but wave analysis shows that the advance has more upside in store. A sell-off has drawn a long red candle in the price chart and retraced advance since Friday. According to the wave count in the chart, bitcoin price is apparently extending its 5th waves and has just completed wave 3 of the larger advancing wave. The current sell-off would count as wave 4, and that implies another advancing wave – wave 5. The 4th wave (today’s sell-off) had targeted the area (magenta....