Do Bitcoin Buyers Have Enough Strength to Turn the Trend Upward?
The Bulls are not allowing the downward medium-term trend to continue, but the Bears are not going to give up their ground easily either. The bounce off of the level of $409 and the fortification at $410.5 served as a good indication for a short-term upward movement to $415. At the level of $415, the initiative was seized by the sellers. As was mentioned earlier, this point is very profitable for them. However, the Bulls have managed to hold the price at the new level of $411. There is a possibility of a third wave forming at the $411 mark, which will keep growing until $445, if the Bulls....
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After a sharp drop, Bitcoin has reached a key point, from where the medium-term trend could continue. What is necessary for that continuation? Will the upward trend continue? The short-term downward trend was just a correction towards the upward trend. That’s why there was a rebound and the upward trend still has momentum. For the upward trend scenario to become as likely as possible, two things need to happen. First, Bitcoin’s price has to fortify at the level of $450 and form a turn. Second, the market has to avoid a downward scenario with a fortification and a turn at the level of $446.....
The upward Bitcoin trend failed to grow into a larger-scale movement. There was no support at the long-term level, and a natural fall followed. Will the upward trend continue? After reaching the key long-term level, the market had to decide: either to form a long-term upward trend or a downward correction. The price would undergo a significant increase in case of a long-term upward trend, but there was no support for that scenario. A downward turn has formed in the short-term scale, which broke the upward trend. After the price has formed a downward correction, two key levels have....
Ethereum’s price has formed an upward turnaround wave. Will there be a turn? Where will the upward trend be cancelled? There is a fortification at the level of $10, and a turnaround wave has been formed. In such conditions, the odds are lying with an upward turn. I.e. in case of a repeated break through the peak of the wave, the movemet is more likely to go along an upward trend, rather than a downward one. But another option is possible nevertheless. There is always a probability of a cancellation of a movement. That’s why the level protecting the upward trend is at $9.3. A new rebound....
The short-term upward trend is continuing. A major part of bitcoin price trend has already been worked out. Will there be a turn to decline? As was suggested earlier, the impossibility of a fortification at $417.5 has provoked a rebound towards the next resistance line and a turn to an upward trend. As long as the trend’s structure stays intact, the upward movement will continue to the next target. It’s important to note a key level where that rebound is most likely to turn to decline. This lies at the resistance of $417.5. A rebound off it has just confirmed the importance of that level.....
Bitcoin’s price has broken through the top resistance line. Will the buyers have enough confidence to keep the growth trend? After a new false break through the level of $417, Bitcoin’s price has bounced off without fortifying. However, the advantage was held by the buyers and the price returned to the top point. The price has displayed fortification in the mid-day structure and a natural growth impulse followed. If the structure of the growth trend stays intact in the near future, there is a probability of the price reaching $422. The trend’s potential is not very high, because the....