Category: Bitcoin

Bitcoin Technical Analysis 12/28/15 – Tread Carefully

After testing support at $405, Bitcoin’s price rebounded and is still feeling the bulls’ 4 month momentum which started at $230 and has since more than doubled the price. Currently bitcoin is trading at $422, after breaking the $420 resistance line and turning it into a support zone. After this past weekend’s panic it seems that once again volume has died down, traders are cautiously waiting on the sidelines for the …
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Bitcoin Technical Analysis 12/26/15 – Weekend Panic

It almost seemed like there would be no action this weekend as volume dropped and most traders took a few days off to spend time with their families. However, Santa decided to liven up this weekend and cash out a few thousand coins. It is no surprise to see Bitcoin’s price slide on the weekend as that is a relatively common pattern, however, combined with Christmas today’s dumps set quite …
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Bitcoin Technical Analysis 12/25/15 – Volatility Incoming

With Christmas here and everybody sitting at home opening presents, the Bitcoin market is in a hibernation state today. With diminished volume after the bear trap on the 20th, Bitcoin is steadily rising and showing no signs of slowing down. Part of the recent price rise may be attributed to reuter’s recent article titled: Record highs predicted for bitcoin in 2016 as new supply halves. In that article, Daniel Masters, co-founder …
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Bitcoin Technical Analysis for 12/21/2015 – Bull Market in Jeopardy

While Bitcoin has appreciated tremendously during November and most of December, the price charts are showing many signs of trend exhaustion. In my prior Bitcoin technical analysis article, I speculated that another descent towards the pivot zone at $442 would break the long-term trend line, and that is exactly what happened yesterday. Price plunged below $442 and the trend line was officially broken.   The pivot zone at $442 – …
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