Bitcoin Price Technical Analysis – Slow and Steady Downtrend
Bitcoin price failed to trade higher this past week. Currently, BTCUSD is facing a lot of offers and looks poised for a down move. Intraday Support Level can be $403. Intraday Resistance Level may be $412. Bitcoin price showed no signs that the bulls can defend the downside move, and traded below the $410 support area. If we look at all major technical indicators, then there is hardly any sign of the price gaining traction. Looking at the hourly chart, there is an ascending channel pattern formed (data feed from Bitstamp), which may play a crucial role in the near term. The price is....
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After a sharp spike off a support level, litecoin price is still exhibiting a steady downtrend and is testing the moving average on its 1-hour time frame from Bitfinex. If the short-term MA (red) continues to hold, price could retest its former lows and perhaps make new ones. Technical indicators on the same time frame confirm that the cryptocurrency is set to weaken in the short term. The shorter-term EMA (red) is moving below the longer-term EMA (green), confirming the presence of bearish pressure. In addition, the moving averages are edging further apart, which means that the selling....
Bitcoin price is still keeping up its uptrend but bulls seem to be having a difficult time pushing for more gains. Bitcoin Price Key Highlights. Bitcoin price is still crawling inside its ascending channel pattern visible on the 1-hour time frame. Price seemed to make a downside break from support but the dynamic inflection points held as a floor and kept it on an uptrend. Technical indicators seem to be hinting that the climb could carry on, albeit at a slow pace. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside.....
Ethereum classic price remained in a downtrend versus BTC, and it looks like there is a lot of risk at the moment for more losses in ETC. Key Highlights. Ethereum classic continued to face selling pressure versus Bitcoin and may trade further down. There is a bearish trend line formed on the hourly chart of ETC/BTC (data feed via Simplefx), which is acting as a resistance. A break below 0.0030BTC may push the price towards the last swing low of 0.0026BTC. Ethereum Classic Price Resistance. Ethereum classic price ETC struggle continues, as it failed to find buyers versus Bitcoin. There is a....
Bitcoin has slipped further following the slow downtrend as the volume activity remains fairly muted. From yesterday's observation of $234, Bitcoin has dropped to $231.98 while respecting the level of $230. It was mentioned in the previous analysis that $229 would act as a support level for the virtual currency. The 240-minute BTC/USD price chart has been technically checked to revise the trading strategies. Bitcoin Chart Structure - The chart structure indicates that Bitcoin has come in close proximity to the previous low of $229, and hence, a bout of short covering may hit the market....
Bitcoin trading has corrected yesterday's advance and is now building the base of the next wave of advance. 1590 CNY and $256 (Bitfinex) remain tough resistance levels and 24 hours later trading has developed a knee-jerk sell reaction to this chart level. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 13h37 UTC. Bitfinex 15-Minute Chart. From the analysis pages of xbt.social today: Price is still holding above the Fib line immediately below and making slow, but steady progress in building the....