Bitcoin (BTC) Price Analysis: Another Attempt at Neckline Break?

2019-3-8 06:59

Bitcoin might be making another attempt to confirm the long-term double bottom reversal pattern as it heads back to test the neckline resistance. A break higher could confirm that a climb of the same height as the chart formation might follow.

The 100 SMA is still below the longer-term 200 SMA on the daily time frame to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. Still, price is moving above the 100 SMA as an early indicator of bullish pressure. The gap between the indicators is also slowly narrowing to reflect weakening selling pressure.

Price would need to clear the $4,300 barrier next to signal that an uptrend might be due. RSI seems to be turning back up and not inclined to keep sliding below the center line, so bullish pressure might be returning. Stochastic is heading up without reaching the oversold region also, indicating that buyers are eager to return.

Bitcoin might be drawing support from another set of bullish commentary as near-term support levels continue to be defended. Many are pointing to the end of “crypto winter” and the start of “crypto spring” as other coins are also seeing similar positive action, indicating that prices may have indeed bottomed out.

This sentiment is also supported by a handful of positive developments and a lot of anticipation for institutional investment. However, Mayne, a popular cryptocurrency analyst on Twitter, cautioned:

“$BTC found support at the yearly open and is now rejecting from the breaker I wanted to short at, ended up being impatient and shorting lower. Above the breaker, BTC looks good for $4200-$4400. If we reject and lose $3700 I wouldn’t want to be long anything.”

As it is, Facebook founder Mark Zuckerberg suggested they might create their own digital asset on the social media platform.

The post Bitcoin (BTC) Price Analysis: Another Attempt at Neckline Break? appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68696.52 (+0.42%)
Объем 24H $20.588b
Изменеия 24h: 1.44 %, 7d: 0.18 %
Cегодня L: $67589.84 - H: $68696.52
Капитализация $1353.813b Rank 1
Цена в час новости $ 3915.18 (1654.62%)

attempt another neckline break bitcoin confirm analysis

Источник: ethereumworldnews.com

attempt another → Результатов: 58


Exclusive Interview: Stablecoins – A Future Solution or Another Pathetic Attempt at Market Recovery? Evan Ropp, CEO of Coin360, Weighs in

The cryptomarket has always been volatile. Out of that market volatility, stablecoins have emerged. Stablecoins are cryptocurrencies backed by real assets, such as fiat, gold, and so on. However, they stayed in the background for quite a long time, only gaining popularity when the market fell drastically.

2019-2-11 21:31


Фото:

Living on Bitcoin for a Week in San Francisco

When I decided, maybe against my better judgement, to live on bitcoin for a week, the plan was met by a combination of cautions and jokes from friends and loved ones: “Just don’t starve,” “Well, it’s the New Year, a perfect time to start a new diet,” “Will you be able to eat?”, “Have you really thought about it?”I had “really” thought about it and it seemed not only sensible but necessary.

2019-2-5 23:06


Фото:

The SEC Is Delaying Another Bitcoin ETF Decision

The United States Securities and Exchange Commission (SEC) is in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its decision to approve or reject SolidX Bitcoin Shares until late September.

2018-8-8 17:15


Фото:

Indian Cryptocurrency Exchange Koinex Launches Loop, a P2P Token Transaction Network

Koinex, a prominent Indian crypto exchange, has launched its peer-to-peer (P2P) service called Loop. Loop is a P2P trading platform for crypto assets transactions using fiat currency (INR). Koinex Loop – An Attempt to Preserve the Crypto Industry in India This step follows the move by another Indian exchange, WazirX, who started their P2P operations earlier.

2018-7-21 23:00


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


дальше еще 9 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin (BTC) Wallets Cross 48 Million for the First Time

Bitcoin has hit another milestone in its rocky journey towards global mainstream adoption. Surpassing 2022 figures in the process. The post Bitcoin (BTC) Wallets Cross 48 Million for the First Time appeared first on BeInCrypto.