Bitcoin Price Analysis: Yuan Exchanges At Resistance
Bitcoin price continues trending higher and the bulls are in control. The proposition remains that it’s a speculative certainty that price will, eventually, strike out for $500 – can the market do it this time? The BTC/CNY exchange charts are leading price into the resistance zone. Although the USD charts do not confirm the move, they tend to rapidly catch up when the market is gripped by rally fever. There are no technical indications that imply that the BTCC chart, above, will definitely break through resistance, but this is often the case prior to a breakout. To break above resistance,....
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Bitcoin price diverged between exchanges today as a surprise yuan devaluation shifted buying pressure to the BTC/CNY exchange charts. The yuan is responsible for the greater bulk of bitcoin trade and showed its influence in the chart today. 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: 15h22 UTC. BTC-China vs Bitstamp 1-Hour Charts. From the analysis pages of xbt.social, earlier today: The surprise devaluation of the yuan, today, had....
Bitcoin price looks like it may make a drop to new lows, but then again, gold is pushing higher; actually the US dollar is strengthening - oh, wait the yuan is being devalued... The pushes and pulls on prices are extreme. Like Cargo Cult members expecting the best or the worst, bitcoin traders are left unsure in a vacillating market. 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: 16h40 UTC. OKCoin Bitcoin Price Chart. From the analysis....
Bitcoin price is attacking overhead resistance and is advancing in a strong wave toward $218. Price has been rejected by a sloping trendline at this level for several days. Will it break through this time? This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 15h10 UTC. Bitfinex 15-Minute Chart. The past two days' sideways correction struck another low at 15h00 UTC and embarked, at first hesitantly, on a steady upward trajectory. By 15h20 the resistance, has not yet been reached. Price has bounced inside the....
Many times, our readers ask why we use technical analysis for a volatile asset such as Bitcoin. There have been several instances when my price predictions based on technical analysis have gone horribly wrong. But I must admit that it is not exactly a cakewalk to anticipate the future price movements of a security which is yet to be tagged as ‘stable.’ In this article, I will discuss all the factors that deeply affect the action in Bitcoin markets, and why trading with technicals is a tough job for price analysts. China Drives the Bitcoin Market – In March 2015, Goldman Sachs revealed in a....
One also has to keep in mind how the US$800 mark is quite important, even more so for the Chinese. China has always been the driving force behind the Bitcoin price. Interestingly enough, it is the Chinese exchanges pushing the price well above the all-important US$800 threshold. It is up to the rest of the markets around the world to follow this lead. Them again, it is not certain the US market will get to US$800 anytime soon, as it is a major point of resistance. Many people woke up to can exciting surprise, as Chinese Bitcoin exchanges are trading at US$800 and above. Compared to the....