Bitcoin, XRP Testing Key Resistances And Could Turn Messy Again – Here’s Why
Bitcoin and XRP have both made strong attempts to reclaim resistance levels in recent days. Bitcoin has broken above the $120,000 price level. XRP, on the other hand, hasn’t found it as easy to establish a firm breakout, although it has pushed as high as $3.10 in the past 24 hours. Technical analysis points to possible short-term price gains if resistance levels holds, but it also outlines a scenario where both Bitcoin and XRP could face another round of declines in the coming week. Related Reading: Space Meets Crypto—Spacecoin Executes 1st Blockchain Transaction Beyond Earth XRP’s....
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Bitcoin is currently staging a weak technical rebound from lows of $410, but the cryptocurrency faces two resistances which might stall the recovery process. The previous bottom of $433 is expected to act as the primary or immediate resistance. The level of $465 remains a major hurdle for bitcoin. The Christmas didn’t turn out to be merry for the bulls, and it looks like that with the majority of the market participants enjoying the year-end festivities, the cryptocurrency might not cross $465 in haste. The technical indicators are clearly reflecting the bearish undertone. I expect a broad....
A medium-term flat, which has formed on Bitcoin is a result of the price’s reaction to the long-term level of $450. We’ll be able to determine which side of the market holds the advantage by looking at an impulse, which is expected to happen at one of the limits of this sideway movement. When will the flat end? As long as Bitcoin’s price stays between two significant levels, the flat will continue. Such movement is usually a sort of balance between the bears and the bulls. A flat always forms between two levels which are responsible for the future trend. There was no turn to decline on the....
Here are the levels we are looking to trade for tonight's session in the bitcoin price, alongside a description of how our live trade played out this morning. In this morning’s bitcoin price watch piece, our focus was on two things. The first, an ongoing trade that we entered during the Asian session – one that had tested our stop but not hit it, and at the time of writing, was testing broken resistance as support. We took this testing as a positive sign, in the sense that the longer the level held, the firmer the support should be, and in turn, the higher the likelihood of a target hit.....
Ethereum’s price continues its fortification at an important medium-term level. The point where the market will choose a new medium-term direction is approaching. Ethereum’s price is situated between two important resistance lines. The bottom resistance of $8.4 is responsible for the continuation of the medium-term downward trend. If a turn to decline does not form at that level, the upward trend will continue. For the chance of the upward trend’s continuation to increase, Ethereum’s price has to hold and form a turn at the breaking point of $9.3. The levels responsible for the beginning....
It was an interesting experiment, but the Bitcoin Foundation's bid to hold on-blockchain elections today seems to be over. In a letter sent to members dated February 25, 2015 at 12:46:33 a.m. EST and posted on the Bitcoin Foundation blog, the Foundation's Director of Communications, Jinyoung Lee Englund, announced that the run-off elections being held to fill two board member seats would be utilizing a new voting platform in co-operation with Swarm. "The Foundation's mission is to advance blockchain technology and this is an important new avenue of innovation," said Patrick Murck,....