Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet
Bitcoin price continues to move sideways in an increasingly tightening trading range to the dismay of cryptocurrency investors. The bearish sentiment across the space is among the most prominent in years — potentially more bearish than the 2018 bear market. Here is why the recent correction has felt far more painful than even Black Thursday, despite BTCUSD trading at roughly the same price as one year ago. Bearish Bitcoin Sentiment Could Be Blind To Bull Market You might not know it by the current price action, sentiment, or even economic backdrop, but there is a strong chance that Bitcoin....
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Bitcoin price achieved $450 (Bitstamp) and 2900 CNY (BTCC) overnight. Since then price has entered a pullback that appears incomplete at the time of writing. A strange advance that is not yet surging above the long-term resistance it has just broken (grey trendline). The expectation was that the slow push higher would turn parabolic on the successful push through resistance at $430 (Bitstamp). In the 4-hour timeframe, RSI is reverse diverging to the December high and the advance must now push through a supply level that has been in effect since November of last year. Although the slow....
Bitcoin price is rallying this weekend but is this just a relief rally or can BTC regain bullish momentum? Bitcoin (BTC) price dropped severely in the previous week, falling from $19,500 to $16,000. Corrections never occur smoothly as dropdowns are frequently sudden and painful. The recent correction isn’t much different as the drop occurred in a matter of hours. Since then, Bitcoin’s price consolidated above $16,000, which marked a temporary bottom. The primary question is whether the correction is over or not. A determining factor will be whether or not BTC price can reclaim the crucial....
The Bitcoin price rally is set to resume after a deep correction during the past days. The correction may still pull price down but only marginally. Analysis explores the state of trend and considers upside price targets as well as what to expect in the coming days. Writer's Note: This article's title may be better worded as "Bitcoin Price Rally Basing" to acknowledge the base building phase now in progress. However, the title was set at the time of publication and cannot be changed (after the fact) due to SEO considerations. Bitcoin Price Rally Resumes. Summary. Comments. Bitcoin Price....
Bitcoin Trading has been in profit-taking mode for the past 24 hours after buyers pushed the Bitcoin price over $300 and 1,900 CNY yesterday. 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: 14h30 UTC. Bitfinex 4-Hour Chart. Price has corrected to 38% retracement of the advance across all exchanges. We would expect, based on the Elliott Wave Principle and from the Bitcoin chart history, that the correction should pull much lower - to 50% or 62% at least - but trade pushes price back above 38%....
Michael Jackson is a software engineer, entrepreneur and venture capital investor at Mangrove Capital Partners. He is also the former COO of Skype. It is little wonder that many perceive bitcoin as a commodity rather than a method of exchange. Extensive media coverage of the digital currency's price fluctuations has driven enormous speculative interest. While it has enjoyed relative stability over recent weeks, it remains inherently unstable and vulnerable to speculation. If this can be addressed, however, it may well turn out to be one of the most transformative technologies we've seen in....