A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Ethereum Price Technical Analysis – ETH/USD Broke Key Support?
by Aayush Jindal on September 20, 2017 at 5:00 am
Key Highlights ETH price was not able to move above the $298 level against the US Dollar and traded lower. Yesterday’s highlighted contracting triangle pattern with support at $282 on the hourly chart of ETH/USD (data feed via SimpleFX) was breached. If the recent downside break is real, the price might trade towards the $268-270 … Continue reading Ethereum Price Technical Analysis – ETH/USD Broke Key Support? The post Ethereum Price Technical Analysis – ETH/USD Broke […]
Ripple Price Technical Analysis – XRP/USD Needs To Retake $0.2000
by Aayush Jindal on September 20, 2017 at 4:08 am
Key Highlights Ripple price is struggling to move above the $0.1950 resistance against the US Dollar. There is a major connecting bearish trend line forming with resistance at $0.1950 on the hourly chart of XRP/USD (data source from Kraken). The price has to move above the $0.1950 and $0.2000 resistance levels to gain momentum. Ripple … Continue reading Ripple Price Technical Analysis – XRP/USD Needs To Retake $0.2000 The post Ripple Price Technical Analysis – XRP/USD Needs […]
Bitcoin Cash Price Technical Analysis – BCH/USD Spikes Above $500
by Aayush Jindal on September 20, 2017 at 3:30 am
Key Points Bitcoin cash price surged higher and managed to break the $500 resistance against the US Dollar. There are two bullish trend lines formed with support near $490 and $470 on the hourly chart of BCH/USD (data feed from Kraken). The price might correct a few points from the current levels, but remains supported … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD Spikes Above $500 The post Bitcoin Cash Price Technical Analysis – BCH/USD Spikes Above $500 […]
Bitcoin Price Technical Analysis for 09/20/2017 – Still Holding on to...
by Sarah Jenn on September 20, 2017 at 1:38 am
Bitcoin price is having a tough time busting through the $4000 barrier but sellers have yet to pile on their positions. The post Bitcoin Price Technical Analysis for 09/20/2017 – Still Holding on to $4000 appeared first on NEWSBTC. […]
Bitcoin Price Watch; Here’s What’s On Tonight
by Samuel Rae on September 19, 2017 at 4:48 pm
So that is another day complete in our bitcoin price trading efforts and – once again – we have had a pretty interesting time during the European session. Anybody who caught this morning’s coverage will know that we were looking for price to breakout and maintain something of a solid run towards the upside – … Continue reading Bitcoin Price Watch; Here’s What’s On Tonight The post Bitcoin Price Watch; Here’s What’s On Tonight appeared first […]
Bitcoin Price Watch; Keeping Cool As Things Recover
by Samuel Rae on September 19, 2017 at 11:54 am
So it hasn’t been perfect and hasn’t happened quite as quickly as we might have hoped, but the bitcoin price now looking like it’s starting to pick up some upside traction. At the end of last week, with a number of disappointing fundamental developments weighing on price, we went entirely sure when the correction was … Continue reading Bitcoin Price Watch; Keeping Cool As Things Recover The post Bitcoin Price Watch; Keeping Cool As Things Recover appeared first on […]
DASH/USD and LTC/USD Technical Analysis September 19 2017
by Christopher Lewis on September 19, 2017 at 5:57 am
Hello and welcome to News BTC’s Market Outlook September 19. DASH/USD DASH rallied a bit during the session on Monday, pulling back towards the $330 level, and finding more bullish pressure in that general vicinity shows that we may have a bit of staying power. Because of this, I believe that DASH will continue to show … Continue reading DASH/USD and LTC/USD Technical Analysis September 19 2017 The post DASH/USD and LTC/USD Technical Analysis September 19 2017 appeared first […]
ETH/USD and ETH/BTC Technical Analysis September 19 2017
by Christopher Lewis on September 19, 2017 at 5:46 am
Hello and welcome to News BTC’s Market Outlook September 19. ETH/USD Ethereum rallied on Monday, reaching towards the $300 level. A break above there should be a bullish sign, and send this market towards the $320 level next. Alternately, if we were to break down below the $270 level could send this market towards the $250 … Continue reading ETH/USD and ETH/BTC Technical Analysis September 19 2017 The post ETH/USD and ETH/BTC Technical Analysis September 19 2017 appeared first […]
BTC/USD and BTC/JPY Technical Analysis September 19 2017
by Christopher Lewis on September 19, 2017 at 5:38 am
Hello and welcome to News BTC’s Market Outlook September 19. BTC/USD Bitcoin rallied during the Monday session, as we are retaking the 4000 handle. It looks likely that buyers will continue to be attracted to this market, after a massive selloff. However, there are still concerns coming out of China as it appears government officials are … Continue reading BTC/USD and BTC/JPY Technical Analysis September 19 2017 The post BTC/USD and BTC/JPY Technical Analysis September 19 2017 […]
Ethereum Price Technical Analysis – ETH/USD Forming Breakout Pattern
by Aayush Jindal on September 19, 2017 at 5:00 am
Key Highlights ETH price climbed higher and traded close to the $300 level against the US Dollar. There is a new contracting triangle pattern with support at $278 forming on the hourly chart of ETH/USD (data feed via SimpleFX). The price remains elevated as long as it stays above the $278-270 support area in the … Continue reading Ethereum Price Technical Analysis – ETH/USD Forming Breakout Pattern The post Ethereum Price Technical Analysis – ETH/USD Forming Breakout Pattern […]
by afbitcoins on June 1, 2017 at 11:47 pm
Measured against USDT (which is a proxy for US$ on the Poloniex exchange), on a 1 day chart we can see the explosive rise of Dash, which particularly in March this year, outperformed almost every other crypto including bitcoin as it spiked above $100 for the first time. Since then Dash has climbed even higher […]
To the moooon
by afbitcoins on May 24, 2017 at 10:07 am
With no analysis just a look at bitcoin on linear price scale. All time high smashed On another positive note for bitcoin agreement seems to have been reached on how to scale bitcoin, (spoiler alert its segwit and a 2M block) http://www.coindesk.com/bitcoins-new-scaling-agreement-reaction/ This is despite bitcoin market dominance falling below 50%! Heres Dash versus the […]
by afbitcoins on May 4, 2017 at 8:48 pm
I think I’ve used this title for a blog post before, but meh, here it is again, with different content. This chart is the combined market cap of all the crypto currencies, ie Bitcoin, Etherium, Ripple, Litecoin, Dash and all the rest Since bitcoin is the biggest crypto it looks similar to a bitcoin chart […]
Bitcoin going parabolic
by afbitcoins on May 4, 2017 at 5:16 pm
In fact bitcoin going parabolic has been happening for over a year, maybe 2 years. It looks like a straight line on a log price scale. I think bitcoin is reaching a danger zone. Top of this channel marked by an Andrews pitchfork only been breached a couple of times followed by steep corrections. Bullish […]
Bitcoin at new highs
by afbitcoins on May 3, 2017 at 10:54 pm
Lets take a look. Since I first got into bitcoin it is clear that bitcoin is gaining more and more mainstream acceptance. My own stance has evolved since the time I first got interested. Back then I was convinced about how bitcoin would decentralise money and bring power to the people and dethrone the banks. […]
What is Technical Analysis?
Technical analysis (TA) is a methodology for forecasting future price movements by studying past market data for price and volume, and seeking patterns within that data.
A technical analyst will look for continuing patterns, or trends, which indicate the general direction of price movement. They will also look for repeating patterns, which are used to gauge whether a trend is likely to continue or reverse, and to indicate the point at which a reversal may take place. In addition to visually recognizable patterns, various mathematical models are used to indicate trend reversals or confirm continuing trends. These mathematical ‘indicators’ are often visually represented on charts using an ‘overlay’. Indicators can be used to select entry points for longer term positions determined via fundamental analysis, or for day trading strategies such as swing trading.
Many of these visual and mathematical patterns, which tend to repeat over and over again in various different financial markets, have been identified over the course of centuries. Analysts will seek to identify these patterns forming within current market data in order to find indicators for forecasting, and multiple indicators will usually be combined together to provide buy or sell signals of varying strengths.
A typical chart has been embedded at the top of this page which includes two common indicators – Bollinger bands and moving average lines – and one more interesting and unusual indicator: the phases of the moon. You can modify the chart to look for other indicators by clicking the button which looks like a bar chart with a zig-zag arrow above it.
Does it Work for Bitcoin & Altcoins?
The patterns studied by TA are generally caused by the actions of market participants themselves, rather than any changes to the underlying value of what is being traded (although of course the underlying value changes are ‘priced in’ by the market participants). They represent common psychological traits, the actions of people making decisions based on knowledge which comes into their possession, and so on. As such, these techniques can be applied to most financial markets.
It is generally thought, however, that these techniques do tend to break down in smaller markets with low volume and liquidity.
So it is probably safe to say that if technical analysis works at all, then it should work for Bitcoin. But is also true to say that it will be unreliable for smaller altcoin markets. This is not a hard rule, but a general guide. The most popular altcoins, or coins going through periods of high volume, may prove to be valid exceptions. It is down to the individual trader to make a judgement as to what extent these tools can be trusted for any specific market.
Top Resources for Bitcoin Technical Analysis by Experts
If you are new to this topic then perhaps the best thing that you can do is follow the analysis provided by established experts, both for making more educated investment decisions and for learning how to become a better analyst yourself. You can view some great articles published on news websites in the left hand column of this page, but for more detailed and timely information here are some of the best sources for professional analysts’ opinions on the Bitcoin price:
- XBT Social: For a monthly membership fee this site give you access to a daily analysis by professional traders, email alerts for sudden price movements, exclusive news stories, and access to an ‘exclusive community’ of other traders.
- BullBearAnalytics: A team of professional analysts provide paying members of this site with complete, actionable trade signals for both BTC and altcoins, a daily market update, and a more in-depth weekly report.
- BraveNewCoin Reports: This is a well-known information site which publishes regular reports covering sentiment, fundamental and technical analysis extended across a wide range of altcoin markets as well as BTC.
- TradingView: In addition to providing a range of charting tools you may find useful, TradingView allows its users to share their analysis with others. This is the only source in this section where you an view content for free, but please beware that not all of the authors are professional traders.
Analyst Opinion Summary
The widget you can see below displays the latest opinion of analysts on Investing.com with simple signals of ‘Strong Buy’, ‘Buy’, ‘Neutral’, ‘Sell’ and ‘Strong Sell’. It is automatically set to a 1 minute time Frame which probably won’t be very useful for most traders, but you can change that to display a longer period without leaving the page:
Bitcoin Technical Analysis Software: Charts and Tools
A handy charting tool created by TradingView is provided at the top of this page, and I wholeheartedly recommend you have a play with it if you haven’t already. But of course there are also many other useful charts and tools that you may like to use. Here are some of the best ones:
- Cryptowatch – This site allows you to view price data chart from a range of different exchanges for BTC/USD, BTC/EUR and BTC/CNY. They offer a range of different chart types including Heikin-Ashi, bar, line, mountain or candlestick, and access to a wide range of customizable indicators and overlays. If you create an account you can also connect it to the Bitfinex exchange API and use it as a complete trading platform.
- BTC-E – One of the most popular tools on the traditional financial markets is MetaTrader 4. This exchange allows you to use MT4 for Bitcoin trading.
- Bitcoin Charts – This site has a clean design and is easy to use, and offers a wide range of charts including candlestick, OHLC, closing, median, or typical price, and weighted close. You can view data from pretty much every BTC/fiat exchange with up to four indicators at a time.
- Quandl – If you want to go beyond price and volume data to look at things like the transaction and mining data then this is a great source of information with lots of different charts and the option to export data via API or download as CSV files.
- TradingView – You can see and use the charting tool from TradingView at the top of this page.
- BitcoinChain – An interesting combination of TA charting tools and block explorer for general network stats and transactions, which also pulls order books and latest trades from several top exchanges.
Best Free Sites to Start Learning Technical Analysis
There are loads of great resources available on the internet that you can access for free, to start your journey and learn all about TA. Here is a small selection of the best ones:
- Investopedia: The Basic of Technical Analysis – If you are a complete beginner then this is a great place to start. It will introduce you to the basic principles and terminology that you need to know, as well as some of the most popular chart types and indicators.
- Chart School – This free resource provided by the StockCharts.com website includes a huge amount of information on every aspect of TA.
- InvestTools – There are some really excellent paid courses here, but there are also several free classes which are well worth it for beginners.
- ProBitcoinTrading – Although not specifically related to just TA, this site offers some excellent general trading tips, including a free ebook as well as premium ebooks and consultancy services.