TA: Bitcoin Price Makes U-Turn, Why BTC Could Tumble to $18K
Bitcoin started a fresh decline below the $20,000 support zone against the US Dollar. BTC traded below $19,000 and remains at a risk of a move to $18,000. Bitcoin started a fresh decline and traded below the $19,500 support. The price is now trading below $19,200 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support at $19,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at a risk of a move towards the $18,000 support zone in the near term. Bitcoin Price Starts Fresh Decline Bitcoin price failed to....
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It certainly has been an interesting weekend when it comes to the price of bitcoin. Late last week, following an advisory that financial institutions in China steer clear of bitcoin, and the news that Baidu was no longer accepting bitcoin, the price took an absolute tumble. Today, the price has come up, with things overall looking more positive. Over 15 percent gains have been observed in the last 24 hours, effectively bringing the price at a hover in the mid-$900USD range at the time of this writing at Bitstamp. Mt. Gox is looking higher per usual, at about $975USD. The general theory is....
Ethereum’s price is fortifying at a key level. That is the first signal of a turn to growth. Will the upward trend continue? What needs to happen for a turn to growth? A fortification at key bear level indicates the lack of demand. The bulls are holding the advantage. If this continues and Ethereum’s price starts forming a turn to growth, there will be a high probability of larger scale correction towards the next target of $11.1 - $11.2. If, however, the bulls win the advantage, the $10.2 mark will become a key resistance line. A fortification and formation of a turn at it will most....
Bitcoin is undergoing a correction toward the upward trend. That rebound can become a turn to decline. What is the most likely scenario for a turn? A stop and a rebound of Bitcoin’s price off the level of large trading volumes at $456 indicates that that trend is backed by some degree of support. But that situation can change, which we’ll be able to see, when judging by the structure of the price. If the bulls will continue to hold the advantage, a fortification at the level of $456 is unlikely. That means that in an upward scenario, Bitcoin’s price has to not form a turn at that level. In....
Bitcoin price has recovered from last week’s late tumble to push beyond the $1,200 milestone, as it makes gains toward the 30-day high of $1,229 on the Bitstamp Price Index (BPI) scaled this time last week. Bitcoin prices began the week hovering above $1,160 through midday on Monday before a sharp spike at 14:30 UTC helped price jump from $1,161.45 to $1,190.07 in an hour. A brief correction ensued but the bullish trend remained as bitcoin prices began Tuesday at $1,177, climbing steadily to touch $1,200.72 at 05:00. The positive gains stuck, as bitcoin price reached a high of $1,210 at....
The uncertain growth of Ethereum’s price is quite likely to result in a sharp fall. When does it become risky to buy? Will there be a turn to decline? If, given all favorable conditions, the price still can’t move in a certain direction, the psychological factor may kick in and hand the advantage to the bears. ETH/BTC price chart 1 But that is only the initial assumption. To make informed trading decisions, one has to look for a more founded confirmation. The level of $11.7 is the most profitable price for purchase deals within the rebound trend. Thus, if Ethereum’s price starts to fortify....