A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Bitcoin (BTC) Price Weekly Forecast: Approaching Next Crucial Break
by Aayush Jindal on July 21, 2019 at 4:28 am
There was a solid upside correction initiated from the $9,100 swing low against the US Dollar. The price gained traction after it broke the key $10,000 resistance area and traded towards $11,250. There was a break above a major bearish trend line with resistance at $10,400 on the 4-hours chart of the BTC/USD pair (data... The post Bitcoin (BTC) Price Weekly Forecast: Approaching Next Crucial Break appeared first on NewsBTC. […]
Bitcoin Flexes Its Muscle, Reclaims $11,000 in Abbreviated Weekend Rally
by Gerelyn Terzo on July 21, 2019 at 12:15 am
Seemingly out of nowhere, the bitcoin price rocketed past the psychologically important $11,000 level this weekend. No doubt traders are getting whiplash from the dramatic swings, as the range-bound BTC then pulled back to just over $10,900. Not too long ago, Galaxy Digital CEO Michael Novogratz predicted that BTC would be range-bound for a while, […] The post Bitcoin Flexes Its Muscle, Reclaims $11,000 in Abbreviated Weekend Rally appeared first on CCN Markets […]
Bitcoin Buoyed By Free Marketing, Will BTC Prices Double By 2020?
by Dalmas Ngetich on July 20, 2019 at 5:00 pm
Bitcoin (BTC) consolidating below $11,200 Iranians turning to Bitcoin Despite deliberate attacks from politicians, Bitcoin as an innovation is an “unstoppable force”. Fearing the unknown, they are unknowingly marketing BTC as an alternative. For now, BTC is steady, but bears are firmly in control. Bitcoin Price Analysis Fundamentals Cryptocurrency investors and traders are in the... The post Bitcoin Buoyed By Free Marketing, Will BTC Prices Double By 2020? appeared first on NewsBTC. […]
Binance’s Boost: BNB Ready for $43 After Strong Signal
by Dalmas Ngetich on July 20, 2019 at 4:00 pm
Binance Coin (BNB) is up 7.1 percent Free airdrop for XLM owners in Binance Binance, amassing $775k after unknowingly staking XLM, will continue staking. Preparing to boost XLM accounts with free airdrops, BNB prices are up 7.1 percent in the last day. Binance Coin Price Analysis Fundamentals Trading in some periphery exchanges can not only... The post Binance’s Boost: BNB Ready for $43 After Strong Signal appeared first on NewsBTC. […]
Ethereum Bulls Hit Pause, ETH Price Ceiling At $230
by Dalmas Ngetich on July 20, 2019 at 3:00 pm
Ethereum (ETH) is down 18.2 percent Set Labs launching an ETH trading robot As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated by their direct correlation, the former could drag ETH prices lower. Even so, that is not stopping Set Labs from launching... The post Ethereum Bulls Hit Pause, ETH Price Ceiling At $230 appeared first on NewsBTC. […]
Bitcoin Price (BTC) Signaling Bullish Continuation To $11K
by Aayush Jindal on July 20, 2019 at 6:00 am
Bitcoin price rallied recently above the $10,000 and $10,200 resistance levels against the US Dollar. The price climbed towards the $10,800 resistance and recently started consolidating gains. There is a contracting triangle forming with resistance near $10,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could accelerate towards $11,000... The post Bitcoin Price (BTC) Signaling Bullish Continuation To $11K appeared first on NewsBTC. […]
Bitcoin (BTC) Is Up 6% Even As Sellers Eye $7,500
by Dalmas Ngetich on July 19, 2019 at 7:00 pm
Bitcoin (BTC) resurgence, up 6 percent Altcoins dominance fall Superior, Bitcoin is generally in an uptrend despite early July losses. Presently, resistance lies at $14,000, and if buyers overcome this level, then BTC could soar to $18,000 by close of the year. Bitcoin Price Analysis Fundamentals The altcoin world is turbulent. Even if the general... The post Bitcoin (BTC) Is Up 6% Even As Sellers Eye $7,500 appeared first on NewsBTC. […]
Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support
by Dalmas Ngetich on July 19, 2019 at 6:00 pm
Ripple (XRP) is up 2.6 percent Footprints in the Middle East and Southeast Asia highlight Ripple’s advantages SWIFT is dominant, but Ripple’s progress is noticeable. Even though most of their partners use xCurrent, clarity in the future will ease their transition to xRapid. That will drive demand for XRP and therefore prices above the current... The post Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support appeared first on NewsBTC. […]
Ethereum (ETH) Adds 5% But Are Whales Manipulating Prices?
by Dalmas Ngetich on July 19, 2019 at 5:00 pm
Ethereum (ETH) price is up 5.1 percent Institutions driving demand for Grayscale Investment’s Large Cap Fund According to Grayscale Investments, institutional demand for cryptocurrencies, including ETH is high. Last quarter, their Large Cap Fund rose 178.8 percent. Currently, ETH is stable but vulnerable in a bear breakout pattern. Ethereum Price Analysis Fundamentals Cryptocurrency “detectives” report... The post Ethereum (ETH) Adds 5% But Are Whales Manipulating Prices? […]
$8,000 BTC a Buy with $20,000 Bitcoin Price Boom in Play, Says Analyst
by Harsh Chauhan on July 19, 2019 at 12:48 pm
The price of bitcoin has been see-sawing since hitting the $13,000-mark in late June as traders believe that the cryptocurrency could witness a significant pullback in the 30 percent to 40 percent range. But one analyst believes that it would be a good idea to buy bitcoin futures if the crypto asset witnesses such a […] The post $8,000 BTC a Buy with $20,000 Bitcoin Price Boom in Play, Says Analyst appeared first on CCN Markets […]
Bitcoin Price Jumps $1,000 in Sudden Spike Beyond $10,000; What’s Next?
by Joseph Young on July 19, 2019 at 6:33 am
On July 18, the bitcoin price experienced an abrupt surge from around $9,300 to $10,500 as the crypto market rebounded, rising by well over $1,000 within minutes, as CCN reported. Following the sudden upside movement, technical analysts still generally remain cautiously bearish towards the short term trend of the dominant crypto asset due to its […] The post Bitcoin Price Jumps $1,000 in Sudden Spike Beyond $10,000; What’s Next? appeared first on CCN Markets […]
Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers
by Aayush Jindal on July 19, 2019 at 6:00 am
Bitcoin price started a strong recovery and broke the key $10,000 resistance area against the US Dollar. The price surged more than 10% and broke the $10,500 resistance to test $10,800. There was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed... The post Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers appeared first on NewsBTC. […]
Crypto Market and Bitcoin Could Continue Higher: BCH, EOS, TRX, ADA...
by Aayush Jindal on July 19, 2019 at 5:00 am
The total crypto market cap started a decent recovery and broke the key $260.0B resistance. Bitcoin price rallied around 10% and broke the $10,000 and $10,500 resistance levels. EOS price recovered steadily and even broke the $4.00 resistance area. BCH price is up more than 5% and it recently cleared the $300 resistance. Tron (TRX)... The post Crypto Market and Bitcoin Could Continue Higher: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC. […]
Bitcoin Market Update for July 18th, 2019 (BTC/USD)
on July 18, 2019 at 4:19 pm
Given our bitcoin forecast from yesterday it came as no surprise that price retraced off of the 10k $ level down to the low-9000's $ to retest the regional low... […]
Ethereum trading cryptocurrency market update for Jul 17, 2019
on July 18, 2019 at 12:25 am
Bitcoin trading can be extremely profitable for professionals or beginners. The market is still new. Learn the best strategies and Ethereum technical analysis with this article. […]
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.