Bitcoin Price Key Highlights Bitcoin price is bouncing off the top of its ascending channel resistance visible on the 1-hour chart. This opens the chance for a correction to the channel support at which several buy orders are likely located. Applying the Fib tool on the latest swing low and high shows that the 61.8% retracement level lines up with the channel support. Bitcoin price a...
It's the start of a fresh day's trading in our European Bitcoin price trading efforts and it's time to get some levels in place with which we can carry forward into the session. Action overnight gave us more of what we were looking for, with price holding onto the recovery that we saw throughout the late European session yesterday and opening in and around the 4400 mark today. If we see a continua...
Bitcoin Price Key Highlights Bitcoin price bounced off the area of interest around $4000 and could be ready to break past its record highs. An ascending channel is forming on the pair's 1-hour time frame and price could aim for the resistance at $4500. Technical indicators, however, are showing mixed signals with oscillators hinting at uptrend exhaustion. Bitcoin price continues to b...
That's another day's trading complete in our bitcoin price trading efforts and what a day it has been. We noted this morning that the correction that was playing out in the bitcoin price overnight was likely a short to medium-term correction and that we would be on the lookout for a reversal of the trend throughout the session today. It didn't take long for this reversal to come into play. S...
Local Russian and Ukrainian sources including RIA Novosti have revealed that three major lawmakers within the Ukrainian parliament have disclosed a total holding of $45 million in Bitcoin. The report of RIA Novosti came shortly after the announcement of the National Bank of Ukraine to fully regulate and legalize Bitcoin and other cryptocurrencies. Ukrainian regulators, lawmakers, and government...
Bitcoin Price Key Highlights Bitcoin price seems to need a break from its strong climb as the price is forming a short-term reversal pattern. Price is completing a head and shoulders pattern on the 1-hour time frame and looks ready to test the neckline at $4000. A break below the $4000 level could lead to a $400 drop or the same height as the chart formation. Bitcoin price is forming...
So, the correction is here but don't panic. As we noted in this morning's coverage, we were well overdue a near-term correction in the bitcoin price and so long as wider markets don't panic and sell off their longer-term holdings in anticipation of a deeper decline, everything will be all right. We managed to jump into the markets a little earlier on today for a quick turnaround short entry and, f...
On a few occasions over the last week or so I have highlighted the potential for some degree of correction in the bitcoin price. When open market assets, whatever sort they are, run up to the degree that bitcoin has over the last month or so, the run can only last so long. At some point, the shorter-term operators that were picking up exposures in anticipation of near-term profit-taking exit the m...
Bitcoin Price Key Highlights Bitcoin price is racing to new record highs once more after completing a shallow pullback from its recent rally. Price could be aiming for the next Fibonacci extension levels from here. Geopolitical risk and renewed optimism after the bitcoin hard fork has propped the currency back up. Bitcoin price seems unstoppable in its rally as it sets it sights on n...
The European session is about to draw to a close and attention now shifts to the US afternoon and beyond for our bitcoin price trading efforts. Before we get into how we are going to adapt our strategy for tonight, let's quickly review what happened during the session today. Once again, price has continued to appreciate throughout the session on Monday, and currently trades in and around $4270 –...
