Bitcoin Eyes $63,000: Key Indicators Signal Further Decline – Time To Sell?
Bitcoin (BTC) is currently experiencing increasing bearish pressure, with technical indicators suggesting a potential decline toward the $63,316 mark. This price drop is driven by factors such as weakening momentum and decreasing trading volume. As Bitcoin targets the $63,316 mark, Investors and analysts are closely monitoring this development, as it may indicate further declines and set the stage for BTC to test lower support levels. This article analyzes Bitcoin’s current price movements and technical indicators signaling a potential further decline for the cryptocurrency focusing....
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Bitcoin price is climbing in a choppy advance. Is this the base of a large advance, or just an upward correction in a sideways spell? No telling what is happening in the chart… a setup for advance, or decline? Or a long consolidation above $550? The 1hr chart (not shown) continues to signal wildly and we pay it no mind. However, the 4hr chart (above) is interesting because it had previously given us a false buy signal, and is now on the verge of signaling a sell signal. Do we believe it? Not without 1hr confirmation, and the 1hr chart is nowhere near signaling decline in any of its....
Bitcoin price declined today without printing a new low. It may only be the first wave of decline towards a Classic(TM) induced low but, ultimately, we know that Core development has a mid-year block-reward halving rally in store. A lazy sell signal in the 15min BTCC chart (not shown) and what looks like a five wave decline in the 1hr chart (above). Although there is no 1hr MA sell signal (and still some time to pass before one will develop), notice, in the 1hr chart, the similarity between the current declining wave and a similar decline from a high in the top left of the 1hr chart.....
Bitcoin price surprised market participants today by falling away from target and entering a strong decline that brought price below $260 and 1600 CNY to targets identified last week: $240 and 1500 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 Price Analysis. Time of analysis: 17h31 UTC. BTC-China 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The decline was signalled by the signature xbt.social MA sell signal and the wave pattern leading up....
Bitcoin price continues decline as the crowd keeps selling. Bitfinex management, so eager to create an impression of recovery, are once again having their liquidity drained by a relentless sell-off, and this time they can’t cry “hack!” The conditions for decline had been stacking up during the past week. We have both the 4hr and 1hr charts’ MACD falling away below zero (magenta circle in the 4hr chart, above). Traders at xbt.social had been advised to wait for price to break below the support that formed at $580 (Bitstamp). Mindful of the possibility of consolidation above this level,....
The bitcoin price chart is becoming ambiguous as it approaches its first large move for the new year. Traders have been actively accumulating bitcoin, yet, regardless a potential sell signal is developing at the larger 4-hour timeframe. It would be a disappointment to see price fall back into decline at the beginning of the year. Although there is no current 4hr chart sell signal, a 20MA and 200MA cross-over at this timeframe has rarely failed to see the market capitulate. Should a sell signal occur then the initial target should be the previous low at $410 and 2550 CNY.