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Bitcoin Price Bowing Down To Profit-Taking As $9,000 Beckons Bitcoin's chances of testing and breaking above $9,400 sabotaged by the rejection at $9,433. The formation of a bullish flag pattern is a key indicator that a bullish reversal is in the offing. Bitcoin is faced with increased selling activity after the recovery that achieved a new January peak at $9,433. The desire to test and break the critical hurdle atv$9,500 has been thwarted by the depressing bearish activities since Wednesday. The Asian session on Thursday is still grappling with the same pressure with BTC having lost 0.44% of its value. Bullish flag pattern The correction from the recent high has been happening between two short term descending trend with equal distance between them. The trendlines have formed a bullish flag pattern. The impact of the pattern has the potential of rebalancing Bitcoin back into the trajectory towards $9,500 in preparation for an assault on $10,000. However, a further dip from the market value of $9,255 is likely to occur before the breakout comes through. Bitcoin Price Technical Picture From a technical perspective, Bitcoin has an affinity for declines at the moment. Using the Relative Strength Index, the trend shows that the path of least resistance is to the south. The RSI at 45 is gradually moving downwards. The continued motion towards 30 will increase the bears’ confidence in the downtrend, resulting in more selling activity. This could risk the support at $9,200 as well as $9,000. The same bearish picture is shown by the falling Moving Average Convergence Divergence (MACD). Its bearish cross signals that Bitcoin could cover more ground downwards as opposed to upwards in the coming sessions. Bitcoin Key Levels Spot rate: $9,255 Relative change: -35 Percentage change: -0.44 RSI and MACD: Bearish signals hint more downside coverage Trend: Bearish Support: $9,250 Resistance: $9,400
COINBASE:BTCUSDShort
by CoinGape
Bitcoin Ballistic Breakout Zooms Past $9,400 Bitcoin gains break $9,400 resistance for the first time in 2020. The tug of war between the bulls and the bears catches momentum following a dive under $9,400. Bitcoin price has corrected higher from $9,397 (opening value) on Wednesday to $9,431 (intraday high). The bullish strength emanates from the brief surge during the American session on Tuesday. For now, Bitcoin has a market value of $9,332 following a subtle 0.50% loss on the day. Prior to the brief rally, BTC/USD dipped to lows close to $8,200. On meeting buyers waiting to buy low, Bitcoin surged incredibly adding more than $10,000 in less than three days. The stubborn resistance at $9,200 gave the bulls are a hard time on Tuesday. However, trading above the next hurdle at $9,400 has given bulls’ confidence that there is a potential of returning above the psychological $10,000 level. Bitcoin technical analysis From a technical point of view, Bitcoin’s surge has subsided and the incoming sessions are likely to be dominated by correction from the highs achieved at $9,448. As observed with the Relative Strength Index (RSI), the bears are gaining traction. Besides, the RSI is pointing sharply downwards after retreating below the 70 level. However, all is not lost for the bulls according to the Moving Average Convergence Divergence (MACD). The indicator is sitting comfortably in the positive region, precisely at +110 after recovery from last week’s low at -90. The MACD also features a bullish cross to show that the trend is in favor of the bulls. Therefore, if Bitcoin bulls reclaim the position above $9,400, then they could end up opening the door for more gains past $9,500. Bitcoin Key Levels Spot rate: $9,347 Relative change: -47 Percentage change: -0.50% Trend: Bearish Volatility: High
COINBASE:BTCUSDLong
by CoinGape
Bitcoin Price Smashes The $9,000 Hurdle, How Nigh Is $10,000? Bitcoin jumps above $9,000, scattering the last of the bearish camps. Technical levels have aligned for the rally to $10,000 but Bitcoin must break the resistance at $9,200. Bitcoin has reclaimed the support above $9,000 after smashing through the resistances I highlighted yesterday at $8,700, and $8,800. It is clear that Bitcoin bulls intend to finish the month of January not only in the positive but also with a bang. At the time of writing, BTC/USD is teetering at $9,081 following an impressive 2% growth in value on the day. The prevailing strong bullish trend is driving off the last of the bears in the preparation for the next bull-run to $10,000. A broader look at the cryptocurrency market on a daily basis, it is apparent that Bitcoin’s jump above $9,000 continues to bullishly impact the market. Other cryptocurrencies performing exceptionally well on Tuesday (at the beginning of the European session) include Litecoin which is trading 3.37% higher, EOS and its 2% rise on the day and Bitcoin Cash with its 1.64% rise in value. The breakout that emanates from the pennant pattern on Sunday is still largely the driving force for the gains (based on the technical picture). The Relative Strength Index (RSI) return into the overbought region (above 70) suggests that it’s the bulls’ turn. Similarly, the Elliot Wave Oscillator’s continuous bullish session since Sunday cements the buyers’ position in the market. Therefore, I expect Bitcoin to continue with the rally above $9,100 and if the resistance at $9,200 is broken, BTC could eventually forge a pathway to $10,000. Bitcoin Key Levels Spot rate: $9,081 Relative change: $185 Percentage change: 2% Trend: Bullish Volatility: High Support: $8,800, $8,400 and $8,200 Resistance: $9,100 and $9,200
COINBASE:BTCUSDLong
by CoinGape
Bitcoin Price Nurtures Bearish Signal With $8,000 In Sight Bitcoin reruns into the bearish phase as the downtrend targets $8,000. Ascending channel support and $8,300 are likely to hold Bitcoin declines in the European session. Bitcoin has continued with a downtrend since the week began. Losses after losses have been made where the bearish pressure has forced its way thought several key support areas including $8,800, $8,500 and $8,450. At the time of writing, Bitcoin is teetering at $8,304 after extending the breakdown below Thursday’s support around $8,450. Looking back at the trend last week, Bitcoin surged from levels around $7,700 to highs close to $9,200. The massive correction revived the hope with most analysts suggesting that the trend will continue northwards ahead of the May 2020 halving event. It is reported that investors are positioning themselves for a groundbreaking recovery following the halving. Meanwhile, if Bitcoin price extends the losses below the ascending channel support currently being tested, the next rendezvous could $8,000. Bitcoin’s immediate upside is capped by the 50 MA (contributing to the resistance at $8,400). The bearish trend signals that upward movement will not be very forthcoming on Friday unless Bitcoin meets a catalyst to boost it in the direction of $9,000. From a more technical perspective, the bears have control. The Relative Strength Index (RSI) has dived into the oversold region (below 30). Moreover, the Elliot Wave Oscillator has started the second day of continued bearish sessions. On the brighter side, the RSI’s oversold conditions could soon signal a reversal especially if Bitcoin finds support (preferably at $8,300 or the channel support). A break above $8,400 will help to avert a possible plunge to $8,000 and $7,700, respectively. Bitcoin Key Levels Spot rate: $8,311 Relative change: -74 Percentage change: -0.90% Trend: Bearish Volatility: High Key Support: $8,300 and $8,000 Key Resistance: $8,400 and $8,800
COINBASE:BTCUSDShort
by CoinGape
BTC/USD Majestically Jumps Above $8,700, $8,800 Beckons Bitcoin price quickly reclaims ascending channel support in a bid to break $8,800 resistance. The support at $8,500 has proved to be essential to Bitcoin’s uptrend in the last few days. Bitcoin price is exchanging hands 0.20% lower on Wednesday towards the end of the Asian session. The trend has been mostly bearish since the opening. However, the American session on Tuesday briefly revived the bullish action, allowing for gains past the resistance I discussed at $8,700. The bulls’ ability to defend $8,500 support also played a key role in the shallow recovery. The rising channel explored on Tuesday did give in to the bearish pressure. However, the bulls quickly reclaimed the support within the channel. Unfortunately, the price lacked the momentum to deal with the resistance at $8,800. At the time of writing, Bitcoin price is dancing at $8,705. There is growing bearish pressure towards $8,800. At the same time, the bulls know better to defend the short term support at $8,700. As long as the price stays above the channel support, Bitcoin buyers will have the time to gather the strength to push for an assault at $8,800 and $9,000, respectively. Meanwhile, the Relative Strength Index (RSI) hints that the bulls still have more influence over the price. The trend is likely to remain bullish in the European session. Moreover, if the low volatility and low trading volume increases, Bitcoin could be fundamentally prepared to correct above $9,000. As far as support is concerned, $8,500 is key support (has stopped losses twice in the last seven days). Bitcoin will also take advantage of the support established at $8,400 and $8,000 if losses gain momentum. Bitcoin Key Levels Spot rate: $8,704 Relative change: $-17.46 Relative change: -20% Trend: Short-term bearish but long term bullish RSI: Recovery stalls at 50 as bears fight to take over
COINBASE:BTCUSDLong
by CoinGape
Bitcoin Price Breaks Rising Channel Support Bitcoin settles between $8,600 and $8,750 as bulls lick the wounds from the fall at $9,200. If the support at $8,600 fails to hold, the ongoing consolidation could end up in declines towards $8,000. Bitcoin continues to the bullish action from January 14 in an interesting surge above $9,000. There was an attempt to break above the rising channel resistance at $9,200. However, selling activity increased significantly, pushing Bitcoin to levels under $9,000. Several support levels failed to shield Bitcoin from the declines, paving the way for bearish action that tested the support at $8,500. While recovery has not been forthcoming on Monday, BTC/USD has stepped above $8,600. The upside is facing growing resistance at $8,750, in other words, it will take buyers a lot of effort to rise towards $8,800 (confluence formed by the 50 MA and the 100 MA on the 1-hour chart). From a technical perspective, the ongoing consolidation between $8,600 and $8,750 is likely to culminate in declines. For instance, the 50 MA double-cross under the 100 MA suggests that bears are increasing their activity. In addition to that, the Relative Strength Index recovery fizzled out at 40. Besides, the indicator's trend has a bearish tone to it, which could further increase the sellers’ presence on the market. It is vital that the bulls continue to nurse the wounds above $8,600. Because, if the support at $8,500 is broken, BTC could dive towards $8,250 and even test the $8,000 level. On the other hand, a return above $9,000 will depend on the bulls’ ability to retake the position above $8,000, as well as the channel support at $9,000. Bitcoin Key Levels To Watch Spot rate: $8,619 Relative change: -78 Percentage change: -0.90% RSI: Downward slopping, hints more breakdown. Moving Averages: Double-cross hints increased bearish action.
COINBASE:BTCUSDShort
by CoinGape
5
BTC/USD Consolidation Above $8,000 Necessary For The Journey To Bitcoin bulls are intentional in containing the daily losses above $8,000. The technical picture hints that consolidation is likely above $8,000 in the near term. Bitcoin is facing losses on the first day of this week’s trading. The declines are an extension of the rejection at $8,200. On Friday last week, BTC bulls pulled the price from the depression that had seen it trade close to $7,600. However, the bullish momentum staled at $8,200, leaving a gap that continues to be explored by the sellers. On the other hand, the recovery from lows reached in December made it above the key trendline (dropping from 2018’s peak around $13,800). The trendline resistance had been tested numerously without giving in. However, the surge in the new year has seen Bitcoin correct above $8,400. At the time of writing, BTC is doddering at $8,103 while battling initial resistance at the 23.6% Fibonacci retracement level taken between the last swing high of $14,056 to as swing low of $5,969. Trends seen with the Relative Strength Index (RSI) suggests that the path with the least hurdles is to the south. The RSI is retreating after brushing shoulders with 70 (overbought zone) last week. However, the gradual slope could also mean that sideways trading is the likely direction in the near term. As far as support is concerned, Bitcoin is initially supported at $8,100. Additional support has been established at $7,800, $7,600 and $7,0000. The above-mentioned trendline resistance has turned into proper support. For now, Bitcoin buyers must ensure the price sticks above $8,000 to give them time to gather strength to attack levels heading to $9,000. Bitcoin Key Levels Spot rate: $8,107 Relative change: -72 Percentage change: -0.89% RSI: Gradual slope suggests that consolidation is possible above $8,000.
COINBASE:BTCUSDLong
by CoinGape
Bitcoin #BTC 8 November 2019 #Dailychart #Bitcoinprice #PricemovHi there, Another try to see where it goes. The last one i did was pretty good and very close, so let's see what will happen now :-) To me there are 3 possibilities, marked with 1, 2 and 3 The 1st possibility is what i think will happen and this is why these arrows are solid and possibility 2 and 3 dotwise. Looking at the RSI and the Volume going down, i see we will hit a support line soon again. Most likely it will bounce from 7800 but i also see a way to 7500, since there is not much volume and RSI has a nice long way to go downwards. There will be a Bart Simpson formed i think, so it will go up after a drop to 7800-7500. This could be to get more strength and room, to break out around Resistance 9900 or even to 10.900. The 2nd possibility is that it will go down to Support line 7800-7500 and then bounce up to the trend Support line. When thi sis hit again, it can go down again to 7800-7500 wherw after it will break out towards once of the Resistance lines (P2) Since it is one of the possibilities, one has to keep it in mind and adjust when needed. The 3rd possibility is that when it goes down towards Support, it breaks through and will fall towards 6200 or even 5850-5900. To me this is not very likely, because i am bullish about #Bitcoin. The way you look at it, it is almost only Descending Triangles and these are know to be bearish. The also can be Reversal and cause an outbreak the other way. So let's hope all will go up instead of down!
by Xerokas_Charts
BTCUSD: Further decline imminent, Accumulation phase.Please leave feedback and opinions if you disagree I'm open to criticism. like or follow if you agree. And I'll return the favor. The above chart is based on the line break technical analysis. I have drawn out the forcasting Bollinger band path of movement. 1 day chart we have bounced off the 20 day moving average, we are now below both the 20 and 50 day moving average, if Bitcoin attempts a recovery we won't see $10,000 again. 10k is gone. The 20 day moving average has become strong resistance and we are heading down further for accumulation prior to halving in May.
COINBASE:BTCUSDShort
by ILL_Midas
Bitcoin Price Prediction and Analysis with xRHello, I'm xR, with Biollp, and welcome to our block. We invite you to tune in as we tour through some of the nostalgic nuances of the past Bitcoin chronicle. Let us dive into the current occlusive conditions of the market. News publishers continue to trek on about Bitcoin's bullish behavior, and it's evident a break out is on the way. Electrifying headlines captivate millions of users adhered to the pulsing lights from their LED monitors. Pings chiming click baits of market penetration, saturation, and expected growth in our booming market space streaming right from the blackened index pages of tactful market makers. It's July Twenty-Fifth, of Twenty-Seventeen, and I download my first bits of Bitcoin. The money is flooding in, it keeps coming in, and the market cap soars through all expectations. Thus, Bitcoin showed exceptional promises for a brave and bright new future. Its March of Twenty Nineteen and Bitcoin begins to unleash havoc, like a bull, racing from it's lower price margins and blasting through all resistances with ease. The news publishers ramble on about its irate behavior and it's evident a break out is clearly on its way, surely? Perhaps the media might pose as a threat to the stability of the market space this time. Blackened Search Engine Optimization can be quite disillusioning, at least, until it isn't. Twenty-seventeen bruised many investors, miners, and community members, many of whom carry painful recollections from their experiences. The deceptive watery river of false promises touted from friends, family, and media outlets may have contributed to its distasteful flavoring. Wealth generation happens over-time, it begs the question, is this financial instrument durable as a storage of wealth? These questions are answered based upon data acquirement over decades, not weeks, days, hours, or seconds. After browsing through the years of outlandish archives; a lacuna appeared before us, do we dare to imagine the plausibility of a One-hundred Thousand Dollar Bitcoin? An eerie sensation seeps into the tandems of my neck, just exactly who and, why is this narrative being published, let us begin to draw and check the technical analysis. Bitcoin's one-month trade chart vanities the momentous kinetic strength that is built over several years before twenty seventeen and notably without a significant pullback. We can attribute this occurrence to how market space development took place. Consequently, early adopters who spent years unrewarded suddenly became key-keepers to cash-filled hands of investors desperate to grasp their golden ticket to projected financial freedoms. Momentum wouldn't shutter until late September of Twenty Seventeen where we see a forty percent pullback formulating our Bullish Kangaroo Tail. Perhaps there are indications of a retracement we can observe in the breakout of Twenty Seventeen. Previously the Eight-Day Moving Average carried support for Bitcoin's rapid uptrend exceptionally well. Continue to follow this trend line until the Twenty-Day Moving High makes a Bearish Cross with the Eight-Day Moving Average. Bitcoin's price breaks it's support line and falls beneath and away from its supportive trend line on the twelfth of February. Inspecting the MACD indicates momentum declined after the peak was reached in December of Twenty-Seventeen and consequently as did the price. While purchasing pressure decline is not a reliable indication for bearish behaviors, this circumstance displays it's potential to forecast price instability. Bitcoin purchasing pressure severely declined rather than slowly tapering down like we would prefer to see. Using the RSI indicator will spotlight our third observation in this analysis. Have a slight dab of Bitcoins relative strength, can you bounce with me one time? We offer a savory dead cat in several flavors, our most popular is raw. This trifecta left all those unaware of it's unfolding scraping at the knees for more yard stomping. Heavy sell pressure continued throughout the year with the Eight-Day Moving Average acting as a steady soft barrier of resistance. The Thirty Day Moving Average reinforces this resistance as the year continues downward. Towards the ending of Twenty-Eighteen, we reached the all-time-low of the year at three thousand, one hundred dollars - two thousand, nine hundred dollars. This low point is the pivotal moment that is the basis for our perspective of this analysis. Not only does this form another Bullish Kangaroo tail but it also creates a secondary point of support. Let's take a look at what happens next. Bitcoin's support is held and pushes outward to the side. The Eight-Day Moving Average trend line that indicates the previous downtrend clutches beneath price actions. This trend line immediately begins to follow it's previous trend and becomes an established line of support for Bitcoin yet again. The trend line then leads us into a bullish cross with our Thirty Day Moving Average at five thousand dollars price per Bitcoin. There were clear indications this would occur during the four thousand dollar price range. This momentous energetic output from Bitcoin's previous bull run is reflected in what we feel, resonate with, and desire. Is this enough to repeat and supersede history? We continue to see the Eight Day Moving Average hold a steady line of support throughout the trend. This synchronicity unleashes an explosive and rapid price increase. Then suddenly Bitcoin pulls back thirty-four percent. Does anything seem familiar to you? There are a few indicators that might jump out at you. Perhaps the Twenty Day Moving High emerging into a bearish cross with the Eight Day Moving Average? A descending purchase pressure over the MACD leads to downward sell pressure. Lastly, the trifecta returns with a dead cat bounce, but will investors be fooled yet again? Fool me once, shame on you. Fool me twice, shame on me. I humbly request investors take consideration of the politely drawn indications from this year's bullish uptrend and appreciate the nostalgic nuances to Twenty Seventeen's bullish uptrend. The various technical indicators, trends, and patterns of the past lead me to at a minimal consider the plausibility of revisiting the line of support. The continuation of this trend could initiate a break beneath the neckline. Typically breaks beneath the trending line of support are equal or greater than the wick atop of the peak. This would be a minimal breach of Two Thousand, Six Hundred points beneath the neckline or line of support. We can project a course of intersection from the topside of our descending channel by use of moving averages and the bottom side of our lines of support. We can see the descending wedge by viewing the Moving Average Trending Channel. Breaching the neckline would bring us into the Lower Level Support Zone. There are further events we project feasible in the continuation of this trend. We'll save those ideas for another Bitcoin Price Prediction and Analysis with xR. Thank you for tuning in with Blockchain Investment Opportunities. We value your time, may your time be fruitful, invest wisely fellow block.
BITMEX:XBTShort
by Krewbacca_xR
2
Bitcoin Price Model v1.1I have revised the coefficients of the formulas used to calculate the top and bottoms in the two lines of this model: Fair Price Line and Top Line that you already know. Since someone asked me if this model is reliable or not, I decided to include the error bands lines in the indicator. For the calculation of the Top line the error is significant because I used only 3 points, we have only 3 significant tops for the calculation and for now it's impossible to do better then this. Putting theory into practice, you can evaluate to open a long term trade when price is within the error bands and use as confirmation classic TA tools (oscillators, trend lines, etc. ..) as stop loss it could be a smart idea to use the lower line with 95% confidence because if bitcoin goes below this lower error line then there would be something fundamentally wrong in the model and it would be wise to apply a stop loss. I've removed the experimental GMM (Gaussian Mixture Model) from this new 1.1 version to keep things simple, GMM model is still available with the old version. From now on i don't think i'll change this indicator again, it'll remain as is for the next 12/24 months and updated only if there will be new important top/bottom.
BITSTAMP:BTCUSD
by UnknownUnicorn30297
2
Some considerations on my bitcoin model indicatorIf you want to see this chart use the ticker BNC:BLX, weekly timeframe and apply to the chart my last updated indicator "My Bitcoin Price Model v1.0". As i said in my previous published idea i've found that bitcoin follows 2 gaussian PDF ( probability density function ) mixed togheter or GMM (gaussian mixture model). In this chart you can see the first one which characterizes bitcoin when big whales or manipulators aren't inflating the price. Bitcoin price follows the centerline of the PDF never exceeding the upper/lower third deviation line as it should be when there is strong homogeneity in market participants ability to move the market . This is what i think at the moment, the price right now is above the 1st PDF third positive deviation line so i've to conclude that big hands are sustaining the prices after initially moved the quote from the fair price up to the mainline of the 2nd PDF (turn it on from indicator settings and look by yourself). BTW there is not much difference from the 2nd PDF price levels and the overall GMM model (look by yourself turning on both PDF levels). Here you can see a pic of the 1st PDF plotted on the chart: btctrading.files.wordpress.com If you want to better understand what I'm saying I strongly recommend you to take some time to learn Gaussian probability functions on wikipedia. Ask me anything here or on Twitter! Softwware used is Stastistica v12 (2014) from StatSoft.
BNC:BLXLong
by UnknownUnicorn30297
2
Bitcoin Price Model v1.0 updated lines (read carefully below)Analyzing the difference between the Bitcoin price and my FairPriceLine (a price regression of the most important bitcoin bottoms) , I found that the distribution of the price follows two probability distributions (i used the GMM or GAUSSIAN MIXTURE MODEL), one when the market is calm with very low levels of price deviations and the other distribution when the market tends to be overvalued with larger price movements. I ditched the previous attempt using Johnson SB distribution function. For now, you can only see the COMBINED distribution of the two along with 3 levels of price deviations, 3 above and 3 below the central average of the distribution. You can however, by acting in the indicator settings, turn off these levels and put back the previous ones (FairPriceLine, Midline and TopLine) . The 1st negative price deviation is almost identical to my FairPriceLine, the second and third negative price deviation has never been tested by this market that is fundamentally bullish. The Mean Line is similar to the previous MidLine that has been obtained doing a price regression of all bitcoin historical data since July 2010. The TopLine just moves between the third positive deviation line and the second one. Next step is to add the possibility to plot each DISTRIBUTION PRICE DEVIATION LEVELS individually and evaluate them.
BNC:BLXLong
by UnknownUnicorn30297
3
what are U think?!?!Bitcoin started a good day, but what's wrong with it now? Bitcoin now has a pattern of two peaks in a one-hour time frame with a broken neckline. If the price of a candlestick is below the roundabout, it may be possible to reach the price 10200$ But if the price goes up, one can hope that the price will continue to grow and reach that price 10440$ But on the other side there is a negative divergence between the price chart and the RSI which warns of a fall in price. Whats your idea?!
by puyaiiii