A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense...
by Davit Babayan on November 14, 2018 at 2:23 pm
Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto... The post Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend appeared first on NewsBTC. […]
Bloodbath: Crypto Market Drops in $8B Wipeout; Bitcoin Cash Down 24.4% in...
by Joseph Young on November 14, 2018 at 12:00 pm
Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after The post Bloodbath: Crypto Market Drops in $8B Wipeout; Bitcoin Cash Down 24.4% in 1 Week appeared first on CCN […]
Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA
by Aayush Jindal on November 14, 2018 at 9:28 am
Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,250 support... The post Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA appeared first on NewsBTC. […]
Ripple Price Analysis: XRP/USD Sellers In Control Below $0.5200
by Aayush Jindal on November 14, 2018 at 8:28 am
Key Highlights Ripple price declined recently and tested the $0.5000 support area against the US dollar. There is a major bearish trend line in place with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure below the $0.5120 and $0.5200 resistance levels. Ripple... The post Ripple Price Analysis: XRP/USD Sellers In Control Below $0.5200 appeared first on NewsBTC. […]
$3 Billion Deleted From Crypto Market as Major Digital Assets Perform...
by Joseph Young on November 14, 2018 at 7:31 am
Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, The post $3 Billion Deleted From Crypto Market as Major Digital Assets Perform Poorly appeared first on CCN […]
Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072
by Aayush Jindal on November 14, 2018 at 7:30 am
Key Highlights ADA price failed to stay above the $0.0760 support and extended losses against the US Dollar (tethered). There was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may perhaps continue to move down towards the... The post Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072 appeared first on NewsBTC. […]
Ethereum Price Analysis: ETH/USD Extends Losses, $200 Holds Key
by Aayush Jindal on November 14, 2018 at 6:28 am
Key Highlights ETH price declined further and broke the important $206 support against the US Dollar. This week’s followed key bearish trend line is still in place with resistance at $208 on the hourly chart of ETH/USD (data feed via Kraken). The pair is under pressure below $208 and $206, which could result in more... The post Ethereum Price Analysis: ETH/USD Extends Losses, $200 Holds Key appeared first on NewsBTC. […]
Bitcoin Cash Price Analysis: BCH/USD Consolidating Near $500
by Aayush Jindal on November 14, 2018 at 4:28 am
Key Points Bitcoin cash price stayed above the $496 swing low and consolidated against the US Dollar. There was a break above a key bearish trend line with resistance at $510 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair struggled to move above the $530 resistance and the 100... The post Bitcoin Cash Price Analysis: BCH/USD Consolidating Near $500 appeared first on NewsBTC. […]
Altcoins Price Analysis: IOT/USD Likely to Expand Above 90 cents as...
by Dalmas Ngetich on November 14, 2018 at 2:10 am
With interstellar, blockchain air drop, BancorX and recent Bosch device development, the altcoin ecosystem is vibrant. But, this is yet to translate to meaningful gains. As a matter of fact, LTC/USD could print $30 by the end of the month in stark contrast with smart contracting and IoT platforms as ADA/USD and IOT/USD. Both are... The post Altcoins Price Analysis: IOT/USD Likely to Expand Above 90 cents as LTC/USD Wilts appeared first on NewsBTC. […]
Ripple Price Analysis: XRP/USD Reject Lower Lows, Short Term Targets at 80...
by Dalmas Ngetich on November 14, 2018 at 2:05 am
Latest Ripple News Aside from EOS and Stellar Lumens which are recent inventions, it still beat logic that CoinBase is yet to list XRP. While it is understandable that CoinBase can practice their discretion and list any coin that adheres to their listing framework, XRP is a liquid asset and far more than just being... The post Ripple Price Analysis: XRP/USD Reject Lower Lows, Short Term Targets at 80 Cents appeared first on NewsBTC. […]
Bitcoin Price Analysis: BTC/USD Breakout above Resistance Trend Line,...
by Dalmas Ngetich on November 14, 2018 at 2:00 am
Latest Bitcoin News Thing is, Bitcoin is just more than a medium of exchange. In 10 short years, the world’s most valuable coin has evolved from being a Cypherpunk thing to a medium of exchange and now it is a solid store of value. It has been so thanks to last year’s super rally. Bitcoin... The post Bitcoin Price Analysis: BTC/USD Breakout above Resistance Trend Line, Buyers aim $7,200 appeared first on NewsBTC. […]
Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo
by Josiah Wilmoth on November 13, 2018 at 10:45 pm
When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship The post Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo appeared first on CCN […]
EOS (EOS) Market Update for Nov 12, 2018
on November 13, 2018 at 8:51 pm
We ramp up our new EOSBTC coverage given it is the winner of the altcoin rotator this mont […]
Bitcoin Analysis: Falling Wedge Indicates Interim Breakout Scenario
by Yashu Gola on November 13, 2018 at 8:35 pm
Bitcoin on Tuesday extended its downward momentum, dropping 0.67-percent against the US Dollar. The BTC/USD trading pair opened the Asian trading session at 6288-fiat and attempted an upside correction to as high as 6309-fiat. The selling pressure around the 6309-level resumed the downtrend. As a result, the pair kept forming red candles for the rest The post Bitcoin Analysis: Falling Wedge Indicates Interim Breakout Scenario appeared first on CCN […]
BTCUSD Price Update for November 13th, 2018
on November 13, 2018 at 6:06 pm
The bitcoin markets have remained under pressure over the past 24 hours as expected which has sparked multiple spikes well below the 6300 $ level... […]
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.