Bitcoin Price – Behold The Coyote Bear
Bitcoin price teeters on the edge of a precipice like Wily E. Coyote holding onto an anvil. The roadrunner is further up the road at $680. Beyond lies the promised land of bitcoin price $2000. FOMC night is here again. While the 1day and 3day charts remain in a bearish state, we anticipate decline. The 4hr candle chart MACD remains below zero (magenta circle) and RSI keeps reverse diverging from price (blue annotations), which is vanilla flavor bearish in anyone’s TA textbook. The proposal is that the market is denying decline with irrational psychology, but without institutional (whale)....
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In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 29, 2022 Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math. Related Reading: Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022 Did Bitcoin Bottom At The Golden Ratio? In Elliott Wave Theory, corrections come in ABC patterns. Taking the....
On-chain data shows the Bitcoin price has now once again dipped below the realized price, suggesting the bear market may not be over afterall. Bitcoin Earlier Broke Above Realized Price, But Has Now Fallen Back Again As pointed out by an analyst in a CryptoQuant post, the BTC price has re-entered into the historic bear […]
Bitcoin price looked to be curving into advance today, but analysis shows the move is spent and must first pull back if it is to continue higher. Meanwhile, crucial support could be tested in the coming hours and days. The technical picture, earlier today [at xbt.social], suggested that price would make its way to the 4hr 200-period moving average (200MA, red) and this condition has now been fulfilled. The stochastics (top panel) have reached their upper extreme, MACD (just above price) is touching its upper Bollinger Band, and RSI has reached an overhead trendline that....
During weekend trade price returned to the level where this wave originated from at $218 and 1340 CNY. Sunday trade has seen price systematically approach the support floor at $210. 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: 16h19 UTC. Bitfinex 1-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The conditions of our long trade were never fulfilled as price fell....
The biggest question so far in the bear phase has been when and where the Bitcoin price will bounce back. According to the latest on-chain data, there might be a fresh answer as to where the price bottom will be in the current bear market. Here’s Why $40,000 Could Be Pivotal To The Bear Market […]