Technical Analysis – BTCUSD cools after rally, cautiously negative in very short term

Posted on July 4, 2019 at 11:29 am GMT

BTCUSD has come off its recent highs, with prices diving to test the 9,600 area, before finding fresh buy orders and rebounding. Yet, the price structure on the 4-hour chart now consists of lower peaks and lower troughs, while the 20-period simple moving average (SMA) has also crossed below the 40-period one, so the outlook seems to have turned cautiously negative in the immediate term. Short-term momentum oscillators agree, with the RSI still hovering slightly above 50, but pointing lower. [..]


Technical Analysis – BTCUSD bulls rest below 38.2% Fibonacci

Posted on June 20, 2019 at 12:55 pm GMT

Bitcoin is stubbornly testing the 38.2% Fibonacci ratio of the long 19,384-3,187 bearish wave for the fourth consecutive session that the bulls failed to successfully breach a year ago. While the slowdown in the red Tenkan-sen and the blue Kijun sen could be a warning sign that the bullish action may soon fade, the market could chart another rally if the MACD continues to trend higher and above its red signal line. Crossing above the 38.2% Fibo of 9,331, nearby resistance could be detected around [..]


Technical Analysis – BTCUSD moves into the cloud but faces strong resistance at 4,000

Posted on February 21, 2019 at 11:43 am GMT

BTCUSD registered three consecutive winning days this week to overcome its 20- and 50-day moving averages (MA) and enter the Ichimoku cloud. But the bulls seem to be running out of fuel according to the Stochastics which are set for a bearish cross above the 80 overbought mark. The RSI confirms this view, as the indicator looks to be losing steam slightly below its own 70 overbought level. A reversal to the downside could see a retest of the bottom [..]


Technical Analysis – BTCUSD seems neutral to negative; Ichimoku confirms bearish view

Posted on January 31, 2019 at 2:31 pm GMT

BTCUSD holds slightly below the 20-and 40- simple moving averages (SMAs) in the 4-hour chart as well as below the Tenkan- and Kijun- sen lines, suggesting further negative pressures. The RSI indicator is flattening in the negative zone, while the stochastic oscillator is approaching the oversold zone with strong momentum. Should the price stretch south, immediate support is coming from the six-week low of 3390 barrier, taken from the bottom on Tuesday. A step lower could bring the bearish sentiment back [..]


Technical Analysis – ETHUSD rallies above moving averages; still negative in long term

Posted on December 19, 2018 at 2:29 pm GMT

ETHUSD has been strengthening its upside momentum over the last few sessions after the bounce off the 19-month low of 80. The price rose above the bullish cross of the 20-simple moving average (SMA) and the 40-SMA in the 4-hour chart. From the technical point of view, the indicators are moving higher with the RSI standing in the overbought area and the MACD oscillator holds above its trigger and zero lines. In case of a jump above the 106 significant resistance level, this would open the way towards [..]


Technical Analysis – BTCUSD plunges to 16-month low; strong negative sentiment in long-term

Posted on November 26, 2018 at 11:48 am GMT

BTCUSD plummeted to a new 16-month trough of 3814 earlier today, continuing the strong sell-off sentiment of the previous couple of weeks. The RSI and the MACD have both weakened, with the former remaining in the oversold zone and the latter easing below its red signal line. Downside risks persist as both indicators continue to fluctuate in bearish territory. If the market manages to pick up speed to post more losses, support could be found around the 3500 region, taken from the low in September [..]


Technical Analysis – BTCUSD set for more gains as bulls take the lead

Posted on December 18, 2017 at 1:33 pm GMT

BTCUSD climbed to another all-time high during the Asian trade on Monday and hit the 19,383.50 level. The strong up-move happened after a break out of a narrow range of 15,038 – 17,496, shifting the bias to bullish. It is worth mentioning that bitcoin opened with a gap to the upside during today’s trading session but later pared some of the gains, creating a correction to the downside. Short-term trend signals on the 1-hour chart (50 and 100-period simple moving averages) are bullishly aligned as the 50-SMA posted a bullish crossover with the [..]

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