Topic: [2018-03-05] Make-or-Break Level? Bitcoin Pauses at Key Resistance (Read 130 times)
I thought that after the release on 26 February of a new version of Bitcoin 0.16.0 bitcoin will recover quite quickly in popularity and grow in price, as its shortcomings will be eliminated. However, it grows rather slowly, practically trampling on the spot. It seems that investors are now very cautious with bitcoin, there was information that the volume of transactions in bitcoin per day fell from 400,000 to 200,000 dollars. Do investors invest more in altcoins and ICO? Or is the crypto currency market now just frozen in anticipation?
March 05, 2018, 03:38:54 PM
This is an excellent price analysis, the price of bitcoin is already testing the resistance at $11600 probably a break out is imminent, else the price may retrace to the support at $10K having formed head-and-shoulder before rallying upward however all these analyses are subjects to any upcoming fundamentals.
What's so excellent about it? It's a pretty basic analysis stating the very obvious.... Coindesk is only naming up certain scenarios that might or might not happen when X level gets broken or not broken, etc. It isn't any different from the loads of predictions and analysis we have seen lately. It's basically still the same situation as when we were about to head towards the $12,000 level last time. I mentioned it in another post as well, for now we have basically two obstacles to face. The first is $11,870 and then $12,000, which we will likely test when the first resistance point gets broken through. Testing still doesn't mean we'll be able to break it, so till that time, it's better to remain conservative, because in case we fail to break it, we'll be going down again.
March 05, 2018, 02:55:55 PM
Bitcoin price is flirting with key resistance on the technical charts and could either break higher towards $17,000 or dip once more below the $10,000 mark.
Having clocked a high of $11,599 earlier today, bitcoin is now trading at $11,473, according to CoinDesk's Bitcoin Price Index (BPI). While the cryptocurrency has spent the better part of the last 42 hours above $11,000, a convincing break above the key resistance level of $11,600 (inverse head-and-shoulders neckline) has remained elusive amid lighter trading volumes.
https://www.coindesk.com/make-or-break-level-bitcoin-pauses-at-key-resistance/
This is an excellent price analysis, the price of bitcoin is already testing the resistance at $11600 probably a break out is imminent, else the price may retrace to the support at $10K having formed head-and-shoulder before rallying upward however all these analyses are subjects to any upcoming fundamentals. Having clocked a high of $11,599 earlier today, bitcoin is now trading at $11,473, according to CoinDesk's Bitcoin Price Index (BPI). While the cryptocurrency has spent the better part of the last 42 hours above $11,000, a convincing break above the key resistance level of $11,600 (inverse head-and-shoulders neckline) has remained elusive amid lighter trading volumes.
https://www.coindesk.com/make-or-break-level-bitcoin-pauses-at-key-resistance/
March 05, 2018, 02:46:51 PM
Although i agree that this is a key technical resistance level in short-term, i don't think that breaking it means rally to 17 000$, more analysis show that the break means a relatively short rally to 12700$ level and after that 15000$.
March 05, 2018, 07:57:56 AM
Bitcoin price is flirting with key resistance on the technical charts and could either break higher towards $17,000 or dip once more below the $10,000 mark.
Having clocked a high of $11,599 earlier today, bitcoin is now trading at $11,473, according to CoinDesk's Bitcoin Price Index (BPI). While the cryptocurrency has spent the better part of the last 42 hours above $11,000, a convincing break above the key resistance level of $11,600 (inverse head-and-shoulders neckline) has remained elusive amid lighter trading volumes.
https://www.coindesk.com/make-or-break-level-bitcoin-pauses-at-key-resistance/
Having clocked a high of $11,599 earlier today, bitcoin is now trading at $11,473, according to CoinDesk's Bitcoin Price Index (BPI). While the cryptocurrency has spent the better part of the last 42 hours above $11,000, a convincing break above the key resistance level of $11,600 (inverse head-and-shoulders neckline) has remained elusive amid lighter trading volumes.
https://www.coindesk.com/make-or-break-level-bitcoin-pauses-at-key-resistance/
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