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Thread: Bitcoin Analysis

  1. #211
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    Bitcoin price tests the resistance line that appears on the above chart, as the price is affected by stochastic positivity, while the EMA50 continues to form negative pressure against the intraday trades, and as long as the price is below 10748.00, the bearish trend scenario will remain suggested for today, waiting to test 8643.35 initially.



    Breaking the targeted level will extend Bitcoin price losses to reach 6039.30, while breaching 10748.00 will lead the price to target 12852.65 level on the near term basis.



    Expected trading range for today is between 8600.00 support and 10200.00 resistance

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  3. #212
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    Bitcoin price finds difficulty to break 8643.35 level that represents 61.8% Fibonacci correction level for the entire rise measured from 1830.00 to 19666.00, to test the resistance line that appears on the chart, which is met by the EMA50 to add more strength to it, accompanied by stochastic move inside the overbought areas.

    Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, reminding you that breaking 8643.35 will push the price to target 6039.30 as a next main station, while breaching 10748.00 represents the key to stop the current negative pressure and head to achieve gains that start at 12852.65.

    Expected trading range for today is between 8600.00 support and 10200.00 resistance

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  5. #213
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    Bitcoin price begins to push on the key support 8643.35 in attempt to break it, which supports the continuation of our bearish overview for today, as our next main target is located at 6039.30, noting that the keeps supporting the suggested bearish wave, which its continuation conditions holding below 9600.00.



    Expected trading range for today is between 8500.00 support and 10000.00 resistance

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  7. #214
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    Bitcoin price shows some slight bullish bias affected by stochastic positivity, and it might retest 8643.35 level before resuming the bearish trend again.



    Until now, the bearish trend scenario still valid unless breaching the above mentioned level and holding above it, reminding you that our next main target is located at 6039.30.



    Expected trading range for today is between 7000.00 support and 8640.00 resistance

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    Bitcoin Falls Over 20 Percent

    Bitcoin has lost over 20 percent of its value during the last ten days. With the break below the $9,211 level, BTC re-entered a bear market on the daily charts. After that breakdown, we saw a substantial decline to $7,656 dollars yesterday. Since then prices bounced back a bit but this seems to be a dead-cat rally.



    Read more on FXOpen blog.
    Last edited by Anrakitori; 03-16-2018 at 10:30 AM.

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    Bitcoin Bounces but Downtrend Remains

    After large losses of over $2,000 last week BTC/USD hit a high of $9,020 today. Softer tones on crypto regulation from the G20 helped to ease investor sentiment somewhat. During the weekend Mark Carney, the head of the Financial Stability Board, said that ‘crypto-assets do not pose risks to global financial stability at this time’ citing the relative size of the overall market cap.



    Read more here

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  12. #217
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    Bitcoin price still stuck between the key levels represented by 8643.35 support and 9260.00 resistance, as we are waiting to breach one of these levels to detect the next targets clearly, thus, we will continue with our neutrality until we get clearer signal for the next trend.



    We remind you that breaching the resistance will push the price to achieve more gains and test 10748.00 level as a next station, while breaking the support will push trading to visit 76.4% Fibonacci correction level at 6039.30.



    Expected trading range for today is between 8200.00 support and 10300.00 resistance

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    Bitcoin price shows positive trading now to approach retesting the previously broken neckline of the minor double top pattern, accompanied by stochastic approach to the overbought areas, which forms negative factor that we are waiting to push the price to rebound bearishly and resume the bearish trend again.



    In general, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 8643.35 and the most important below 9260.00 levels, reminding you that our next main target is located at 6039.30.



    Expected trading range for today is between 7000.00 support and 8280.00 resistance

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    Bitcoin Down 10 Percent

    Bitcoin is down by close to 10 percent since our last update, from $8,839 to $7,477 dollars right now. The downtrend noted in last week’s article remains in place for BTC/USD.



    Read more on FXOpen blog

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    Bitcoin price trades with clear negativity now to approach our main waited target at 6039.30, which represents key condition to the short term and medium term trades, as breaking it will cause extension to Bitcoin price losses to reach 5200.00 as a next main station.



    Until now, we will continue to suggest the bearish trend domination in the upcoming period supported by the EMA50, unless the price managed to rally upwards to breach 8280.00 followed by 8643.35 levels and hold above them.



    Expected trading range for today is between 5800.00 support and 7000.00 resistance

  18. #221
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    Bitcoin has broken below our stop loss of $7,600, and our position initiated at $8,800 has been closed. We had suggested long positions because we anticipated a pullback once the digital currency broke out of the descending channel, but we were wrong.



    The bears strongly defended the 20-day EMA and pushed prices back into the descending channel once again.

    There is a minor support at $7,000 below which the BTC/USD pair will retest the February 06 lows of $6,075.04.

    However, traders should keep an eye on the relative strength index (RSI), which is entering the oversold territory. Previous declines to the oversold zone have turned out to be a good buying opportunity. Over the next couple of days, if we get a panic dip towards $6,000 or below that to $5,450.86, it might turn out to be a good place to buy for the long-term.

    Investors should watch for prices to stabilize for about four hours and then purchase about 25 percent of the desired allocation. Panic dips, after a prolonged downtrend, should be used to invest. We expect the $5,000 to $6,000 zone to offer a strong support.

  19. #222
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    Bitcoin price shows some bullish bias now to approach form testing , accompanied with the issuance of clear overbought signals by stochastic, which keeps the chances valid for the continuation of the decline in the upcoming sessions, waiting for visiting 6039.30 level that represents our next main target.



    Therefore, we will keep our bearish trend expectation on the intraday and short term basis, being aware that breaking the targeted level will extend Bitcoin price on the medium basis, being aware that breaching 7445.00 will stop the expected decline and pushes the price to test 8643.35 levels before any new attempt to decline.



    Expected trading range for today is between 6000.00 support and 7600.00 resistance

  20. #223
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    Bitcoin price shows some bullish bias now to approach form testing , accompanied with the issuance of clear overbought signals by stochastic, which keeps the chances valid for the continuation of the decline in the upcoming sessions, waiting for visiting 6039.30 level that represents our next main target.



    Therefore, we will keep our bearish trend expectation on the intraday and short term basis, being aware that breaking the targeted level will extend Bitcoin price on the medium basis, being aware that breaching 7445.00 will stop the expected decline and pushes the price to test 8643.35 levels before any new attempt to decline.



    Expected trading range for today is between 6000.00 support and 7600.00 resistance



    Expected trend for today: Bearish

  21. #224
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    Bitcoin Bounces From Lows

    Bitcoin is quoted at $7,378 dollars right now, a gain of 15 percent from the lows. However this bounce is still very much in the realm of ‘dead cat’, as counting from the start of March bitcoin is down by 29 percent.



    Read more on FXOpen blog.
    Last edited by Anrakitori; 04-04-2018 at 10:12 AM.

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  23. #225
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    The tight range dominates Bitcoin price trades since morning, to remain stable around the EMA50, and as long as the price is below 7380.00, the bearish trend scenario will remain active for today, supported by stochastic negativity, reminding you that our main waited target is located at 6039.30.



    Expected trading range for today is between 6000.00 support and 7500.00 resistance

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