Bitcoin Price Key Highlights Bitcoin price broke past its all-time highs to create new ones, signaling a fresh push among bulls. Looking at the Fibonacci extension levels based on the latest correction move shows the next upside targets. Price has already breached the 76.4% extension and is making its way towards the full extension near $6000. Bitcoin price is on a tear after establishing stronger bullish momentum on a break past the $5000 barrier, setting its sights on $6000 next. Technical Indicators Signals The 100 SMA is still safely above the longer-term 200 SMA so the path of least resistance is to the upside, which means that the rally is more likely to continue than to reverse. Bitcoin price has also moved past the $5000 psychological barrier, clearing the p...
Earlier today, on October 12, the Bitcoin price achieved a new all-time high at $5,220, despite the uncertainty surrounding the SegWit2x hard fork in November. Subsequent to the recent surge of the Bitcoin price, Samson Mow, the chief strategy officer at Blockstream, the blockchain technology development firm, reaffirmed his interim price target of $6,000 by the end of 2017. Just a reminder. $BTC at $6,000 by year end should be no problem if SegWit2x either doesn’t happen, or if it adds strong replay protection. https://t.co/L4Ctkqk52m — Samson Mow [NO2X] (@Excellion) October 12, 2017 Factors and Trend For the Short-Term Performance of Bitcoin Price The SegWit2x hard fork could play a vital role in the short-term trend of the Bitcoin price. As of current, the demand for Bitcoi
NEOUSD TECHNICAL ANALYSIS Including today’s candlestick, we can conclude that the last 3 candlesticks were presentative of a horizontal consolidation resulting into dojis. The technical term for such formation is a “spinning top”. In the real sense, there was reduced volatility and participation levels remain flat over the same period as shown by below average volumes. Furthermore, the price is still oscillating within 09.10.2017 Hi-Los-a tight $9 range. However, chances of a break below temporary support of $25, and a consequent bear trigger remains high. Sellers should actually begin selling and aim at $20 and $14 respectively. A reliable stop loss should be placed above today’s highs at around $30. Refer Figure 1 (above): NEOUSD-Daily Chart-12.10.2017 DASHUSD TECHNICAL ANALYSI
Today is a big day for bitcoin. Anybody that caught yesterday’s analysis will know that we highlighted the 5000 mark as a key level to watch going forward. Specifically, we noted that if we saw a break of that level, we would almost certainly see a run towards 5100 and likely beyond based on fact that stop losses were being taken out (in a sort of short squeeze fashion) and that we would see some speculative volume flow towards bitcoin based on an increased media coverage given that a key level has collapsed. As it turns out, that’s exactly what happened. Price broke through this level early during the European session and we were ready to jump into a nice long road towards 5100 as and when it happened. Anyway, we got what should be a pretty interesting session ahead of us, so
Things are moving too fast for us to waste any time on the bitcoin price action we have seen during the session today in the bitcoin price out of Europe because, if we do, we are liable to miss a potentially rewarding entry opportunity. We have set up some levels that we are hoping to use to take advantage of the fast action volatility during the session this evening and, beyond, into the Asian session tomorrow morning, and with any luck, we will see a continuation of this sort of momentum near term. So, let’s get our levels outlined so as to not miss any opportunity and to give readers an idea of where things stand in the market right now and, additionally, where we intend to jump in and out of the markets on any forward volatility. As ever, take a quick look at the chart below
Dash price gained bullish momentum against the US Dollar and Bitcoin, and now DASH/USD can be seen as a buy on dips near $195. The Status: Dash price surged higher and broke a major resistance at $165 and $180 versus the US Dollar. There is a bullish trend line forming with support at $195 on the hourly chart of DASH/USD (data feed from Poloniex). The price is currently correcting lower, but remains supported around the $198 and $195 levels. Technical Aspect In the past few analysis, we discussed about positive moves in Dash price above $150 against the US Dollar. The price remained in a bullish trend and was able to break a major resistance at $165 and $180. The price gained traction and traded above the $200 level for a new monthly high near $217.82. Later, it
Ethereum price is struggling to gain bullish momentum against the US Dollar and Bitcoin, and ETH/USD remains capped by a major hurdle near $230-236. The Status: ETH price remained below the $230-236 resistance area and failed to gain traction against the US Dollar. Yesterday’s highlighted bearish trend line with current resistance near $228 on the hourly chart of ETH/USD (data feed via SimpleFX) is still intact. The price has slowly moved below the 100 hourly SMA, but there is no major move below $230. Technial Aspect During the past few days, there were only range moves in ETH price above the $205 level against the US Dollar. On the upside, the price struggled to break the $230 and $236 resistance levels. There was no major action during the past few sessions,
Bitcoin price could be due for an upside break from this short-term consolidation pattern, which looks like a bullish flag on long-term time frames. The Status: Bitcoin price is still stuck in its symmetrical triangle pattern just below its all-time highs. A downside break could inspire a larger correction from the rally while an upside break could lead to the creation of new record highs. Technical indicators are mostly signaling that further gains are in the cards. Technical Aspect The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. Also, the gap between the moving averages is getting wider to indicate that bullish momentum is getting stronger. The 100 SMA is holding as dynamic support at the bottom of the...
Bitcoin price might be done with its correction and the Fibonacci extension tool shows how low it could go from here. The Status: Bitcoin price is completing its pullback to the broken triangle support at $2400. This lines up with a Fibonacci retracement level and the extension tool shows the next potential support areas. Technical indicators are showing that the selloff could resume around these levels. Technical Aspect The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. At the same time, the 100 SMA lines up with the broken triangle support to add to its strength as resistance. The 200 SMA dynamic inflection point is closer to the triangle top, which might be the last line of defense in this downtrend p...
Any time there’s a major correction or major upsurge in values for any market, opinions and tempers flare about what could have caused it? When prices plummet, people tend to get especially upset. The recent collapse in the price of Ethereum (ETH) has led some to speculate about what could have caused the problem. Cointelegraph conducted a survey about the potential causes for the decline and the responses were interesting. The majority of respondents believe that ICO token sell-offs have caused the price decline. The massive rise in ICOs over the past months have led to a large amount of ETH being gobbled up in the attempt to raise funds. As startups seek to capitalize on funding by selling, the market may well have been flooded with available ETH, driving down the price. Othe