Author

Topic: [2016-08-01] Bitcoin Price Continues Medium-Term Decline (Read 279 times)

legendary
Activity: 1596
Merit: 1005
★Nitrogensports.eu★
Love technical analysis. It can explain every price movement ... after the fact.

However if you also involves fundamental analysis to support your technical analysis, With it you will be more confident with bitcoin price forecasts. IMO
Well, sometimes I feel like technical bitcoin's price analysis is like trying to use mathematical formulas to determine weather forecasts.
It doesn't tell you anything useful until changes are apparent to the naked eye.

Why I want to know here. Why we are observing price decline? There wasn't really any significant bad news recently.
legendary
Activity: 2814
Merit: 1112
Leading Crypto Sports Betting & Casino Platform
Love technical analysis. It can explain every price movement ... after the fact.

However if you also involves fundamental analysis to support your technical analysis, With it you will be more confident with bitcoin price forecasts. IMO
newbie
Activity: 19
Merit: 0
Love technical analysis. It can explain every price movement ... after the fact.
hero member
Activity: 672
Merit: 500
The 4-hour Bistamp chart shows that the market sold price straight through $640 support, from where price has been slowly selling-off toward $600 and 4000 CNY.

Although 4hr MACD signals Sunday morning’s decline (magenta circle), the stochastics (top panel) are grouping at their minimum, while RSI has achieved a previous lower low (horizontal blue annotation). The stochastic and RSI indications imply that price may need to correct when decline to $600 has been achieved.

The present decline happens below a bearish 1-day chart (MACD declining below its signal line), as well as a bearish 3-day chart where both MACD and the stochastics declining. Hence, we may have to wait a week or two for the decline to bottom out and find support.

https://www.cryptocoinsnews.com/bitcoin-price-continues-medium-term-decline/
Jump to: