Bitcoin Price Technical Analysis (July 17): The Panic Before the Rise?

Bitcoin Price Technical Analysis (July 17): The Panic Before the Rise?

Bitcoin (BTC) is currently is trading at around $9,500. After a formation of a double top and bearish engulfing pattern, we see a steep downfall. The price has the broken the support level of $10,800, turning it into resistance and support is at $8820. It is suggested not to take any long position at this price and to wait for the price to settle around $8,820. Dow Theory According to Dow Theory, the price is…

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Bitcoin Price Technical Analysis (June 25): Looking Up to $13,000

Bitcoin Price Technical Analysis (June 25): Looking Up to $13,000

Bitcoin (BTC) is currently trading at $11,283. Looking at the chart, we see that the price is in a continuous uptrend. The price has recently broken the resistance of $11,146, turning it into support as the new resistance is at $11,734 and then the next one at $12,454. The uptrend is strong as we see formation of a cup and handle pattern. Although this could be a false breakout, long positions can be taken keeping…

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Bitcoin Price Technical Analysis (June 17): Going Up to Resistance

Bitcoin Price Technical Analysis (June 17): Going Up to Resistance

Bitcoin (BTC) is currently trading at $9279 and the price is in a continuous uptrend. The price has recently broken the resistance of $8,951 turning it into support with new resistance at $9,500. The uptrend is strong as we see a formation of a bullish engulfing pattern which is a strong bullish pattern. Dow Theory According to Dow Theory, the price is in the excess phase, which is an extension to the public participation phase….

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Litecoin Price Technical Analysis (June 12): A Correction After a Rally to Come?

Litecoin Price Technical Analysis (June 12): A Correction After a Rally to Come?

Litecoin (LTC) is currently trading at $138.13. The price is in a continuous uptrend which started after the formation of a morning star pattern at the support level. This is a bullish reversal pattern. The price is currently nearing its resistance of $142.38 after a strong rally with support at $131.68. It is suggested to wait for the price to cross the resistance level. Dow Theory According to Dow Theory, the digital coin is currently…

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Bitcoin Price Technical Analysis (June 6): Is the Correction Stage Over?

Bitcoin Price Technical Analysis (June 6): Is the Correction Stage Over?

Bitcoin (BTC) is currently trading at $7,720. The price is currently around its support level of $7,719. Also, we see a formation of a spinning top at the support, indicating indecision. Looking at the trend, it is suggested to take long position at the current price, keeping support as a stop loss. The support is at $7,719 and resistance at $ 8,214. Dow Theory According to Dow Theory, the Bitcoin price is in the public…

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EOS Price Technical Analysis (June 4): Uptrend but Indecisive

EOS Price Technical Analysis (June 4): Uptrend but Indecisive

EOS (EOS) is currently trading at $6.84. The price was in an uptrend but there was a formation of a bearish belt hold pattern at the resistance level. It is a trend reversal pattern indicating resistance. Minor support is at $6.33 and major support is at $5.81 with resistance at $8.57. It is suggested not to take long position at this price. Dow Theory According to Dow Theory, the digital coin is currently appearing in…

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Ripple (XRP) Price Technical Analysis (May 30): It’s a Bull!

Ripple (XRP) Price Technical Analysis (May 30): It’s a Bull!

Ripple (XRP) is currently trading at $0.4632. Looking at the chart, we can see that the price has broken the resistance of $0.4597. There Is formation of a bullish engulfing pattern which is obviously a bullish pattern, indicating an uptrend movement. Support is at $0.4597 with resistance a $0.4964. Dow Theory According to Dow Theory, the digital coin is currently appearing in the public participation phase; during this phase, negative sentiment starts to dissipate. This…

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Bitcoin Price Technical Analysis (May 28): Indications of a Minor Correction in Sight

Bitcoin Price Technical Analysis (May 28): Indications of a Minor Correction in Sight

Bitcoin (BTC) is currently trading around $8,700. Looking at the chart, we see the formation of a shooting star pattern; it is a trend reversal pattern, indicating a small correction. The digital coin surpassed the minor resistance of $8,667, and now faces a major resistance at $9,405; support is at $8,286. It is suggested wait for the price to settle down a bit above the minor resistance before taking long positions. Dow Theory According to…

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Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum (ETH) is currently trading at around $237. The virtual coin was in an uptrend until it hit the resistance of $271.66; there is a formation of a hanging man pattern at the resistance level. It is a bearish pattern indicating correction. Support level is at $232.66. Looking at the chart, we see a formation of ascending triangle, which is a bullish signal indicating that the overall trend is yet bullish. Dow Theory According to…

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Bitcoin Price Technical Analysis (May 20): Bullish Patterns Indicate Another Rally

Bitcoin Price Technical Analysis (May 20): Bullish Patterns Indicate Another Rally

Bitcoin (BTC) is currently trading at approximately $7,760. Looking at the chart, we see the formation of a piercing pattern. It is a bullish pattern. Currently the digital coin is at its support of $7,700 with resistance at $8,300. In addition, we see flag and cup pattern, both of which are bullish patterns. Therefore, the overall trend is positive. Long position can be taken, keeping support as a stoploss. Dow Theory According to Dow Theory…

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