Bitcoin (BTC) Price Analysis: Reversal Still Possible?

2019-3-14 04:33

Bitcoin recently broke below a short-term rising trend line to signal that a reversal from the uptrend is due. Price has pulled up for a retest and the broken support is holding as resistance, possibly sending price down to the next downside targets.

Applying the Fib extension tool on the breakdown shows where bears could take bitcoin next. The 50% level lines up with the swing low around $3,800 which might be the first take-profit point. Stronger selling pressure could take bitcoin to the 61.8% level at $3,737.50 or the 78.6% level at $3,649.80. The full extension is at $3,538.0.

The 100 SMA is still above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the climb is more likely to gain traction than to reverse. Price is hovering at the 100 SMA dynamic support and might be due to test or break the 200 SMA as an early signal that bears have the upper hand. The gap between the indicators is also narrowing to reflect weaker bullish momentum.

RSI seems to be on the move down to indicate that selling pressure is still in play and could be enough to drag bitcoin down to the next downside targets. However, the oscillator is also turning slightly higher to signal that buyers might put up a fight.

Meanwhile, stochastic is on its way up to show that buyers are in control and could keep the uptrend going. This oscillator has just crossed the center line to reflect a pickup in bullish pressure and has some ground to cover before reaching the overbought zone.

Some resurfacing concerns on bitcoin appear to be keeping a lid on prices, and it doesn’t help that a few more analysts are calling more declines in price. Bitcoin ATMs in Calgary posted losses after security attacks that led to $200K worth of coins being stolen.

For many, this indicates how hackers are also advancing in the complexity of their schemes, throwing attention to security flaws that might still need to be addressed before bitcoin is adopted by the mainstream market.

The post Bitcoin (BTC) Price Analysis: Reversal Still Possible? appeared first on Ethereum World News.

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Источник: ethereumworldnews.com

reversal price → Результатов: 126


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Bitcoin (BTC) Price Analysis: Time for a Pullback… Again!

Bitcoin recently broke below a short-term rising trend line to signal that a reversal might be underway. Price has found support at the $3,600 area, though, and a pullback is taking place. The 100 SMA is still below the longer-term 200 SMA on this 1-hour time frame, indicating that the path of least resistance is […] The post Bitcoin (BTC) Price Analysis: Time for a Pullback… Again! appeared first on Ethereum World News.

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Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern:Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders BottomThis current pattern is nothing more than a setup at the moment, but it represents one potential outcome of this sustained consolidation.

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