A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Bitcoin Price Achieves New All-Time High at $8,100, Market Confident in...
by Joseph Young on November 19, 2017 at 6:56 pm
The bitcoin price has officially achieved a new all-time high price at $8,100, surpassing its previous high at $8,050 established earlier this week. $10 Billion Awaiting to be Invested in Bitcoin Analysts have attributed the recent surge in the price of bitcoin to the global bitcoin market’s optimism towards the launch of bitcoin futures by … Continue reading Bitcoin Price Achieves New All-Time High at $8,100, Market Confident in Institutional Investors The post Bitcoin Price […]
Bitcoin Cash Price Weekly Analysis – BCH/USD Upsides Remain Capped
by Aayush Jindal on November 19, 2017 at 6:30 am
Key Points Bitcoin cash price recovered well from the $835 swing low against the US Dollar to trade above $1000. There is a major descending channel forming with resistance at $1225 on the 4-hours chart of BCH/USD (data feed from Kraken). Upsides remain capped as long as the pair is below the $1250 resistance zone … Continue reading Bitcoin Cash Price Weekly Analysis – BCH/USD Upsides Remain Capped The post Bitcoin Cash Price Weekly Analysis – BCH/USD Upsides Remain Capped […]
Bitcoin Price Weekly Analysis – BTC/USD Eyes New High
by Aayush Jindal on November 19, 2017 at 5:00 am
Key Points Bitcoin price is in super bullish trend and it recently traded above $7950 against the US Dollar. There is a connecting resistance trend line forming with current barrier near $8050 on the 4-hours chart of BTC/USD (data feed from SimpleFX). The pair is now well supported above the $7500 level and eyes a … Continue reading Bitcoin Price Weekly Analysis – BTC/USD Eyes New High The post Bitcoin Price Weekly Analysis – BTC/USD Eyes New High appeared first on NEWSBTC. […]
Ethereum Price Weekly Analysis – ETH/USD Breaks Imp Resistance
by Aayush Jindal on November 19, 2017 at 4:08 am
Key Highlights ETH price made a nice upside move and traded above the $328 resistance against the US Dollar. There is a major bullish trend line forming with support at $337 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair remains in an uptrend and it will most likely trade above the … Continue reading Ethereum Price Weekly Analysis – ETH/USD Breaks Imp Resistance The post Ethereum Price Weekly Analysis – ETH/USD Breaks Imp Resistance appeared first on […]
ALT COIN BULLS GAINS $17 ON NOVEMBER 17
by Dalmas Ngetich on November 18, 2017 at 8:10 am
In general, it’s the beginning of another rally for NEO bulls after that break above $40. This and combination of another bull drive in Monero and DASH should be profitable opportunities in the cryptocurrency realm. Let’s look at the charts: NEM BULLS KEEP PRICE ABOVE $0.20 MAIN SUPPORT LINE Consolidation is the word for this … Continue reading ALT COIN BULLS GAINS $17 ON NOVEMBER 17 The post ALT COIN BULLS GAINS $17 ON NOVEMBER 17 appeared first on NEWSBTC. […]
Bitcoin Price Watch; An End Of The Week Profit
by Samuel Rae on November 17, 2017 at 3:19 pm
We are closing in on the end of the week and it’s time to take the second of our twice-daily looks at the bitcoin price in an attempt to figure out how action today can be fed into a strategy that we can use to draw a profit from the market as we head into … Continue reading Bitcoin Price Watch; An End Of The Week Profit The post Bitcoin Price Watch; An End Of The Week Profit appeared first on NEWSBTC. […]
Bitcoin Price Watch; A Wild End To The Week
by Samuel Rae on November 17, 2017 at 10:48 am
So, we have come to the end of the week in our bitcoin price trading efforts and it’s looking as though we are going to have a pretty interesting close to the session. Things started moving late yesterday and we were able to jump into the markets on a nice clean breakout trade shortly before … Continue reading Bitcoin Price Watch; A Wild End To The Week The post Bitcoin Price Watch; A Wild End To The Week appeared first on NEWSBTC. […]
DASH AND MONERO SPINNING TOPS
by Dalmas Ngetich on November 17, 2017 at 8:02 am
After last week’s mega rally DASH and Monero appears to be topping with equal bullish and bearish pressure. As noted, three consecutive dojis have formed over the past three days forming spinning tops. We still retain our bullish skew provided that prices reverse around key Fibonacci levels with a buy signal in place either in … Continue reading DASH AND MONERO SPINNING TOPS The post DASH AND MONERO SPINNING TOPS appeared first on NEWSBTC. […]
Ethereum Classic Price Technical Analysis – ETC/USD to Gain Momentum?
by Aayush Jindal on November 17, 2017 at 8:00 am
Key Highlights Ethereum classic price is slowly moving higher and is currently trading above $16.00 against the US Dollar. There was a break above a major bearish trend line with resistance at $16.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair might continue to move higher if there is … Continue reading Ethereum Classic Price Technical Analysis – ETC/USD to Gain Momentum? The post Ethereum Classic Price Technical Analysis – ETC/USD to Gain […]
Ripple Price Technical Analysis – XRP/USD Surges Higher
by Aayush Jindal on November 17, 2017 at 6:30 am
Key Highlights Ripple price gained heavy bids and moved above $0.2500 against the US Dollar before correcting lower. There is a bearish trend line forming with resistance at $0.2350 on the hourly chart of the XRP/USD pair (data source from Kraken). The price might continue to move higher and it remains supported above the $0.2100 … Continue reading Ripple Price Technical Analysis – XRP/USD Surges Higher The post Ripple Price Technical Analysis – XRP/USD Surges Higher appeared […]
by afbitcoins on November 3, 2017 at 1:20 am
So bitcoin has broken $7000? Or has it? What is bitcoin? Is it the one with ticker symbol btc that everyone calls bitcoin? Do you remember when Satoshi Nakamoto published plans for the future scaling of bitcoin and said ” It would be goddamn brilliant to segregate the witness data the fuck out of the […]
Game Theory on potential scenarios of the Caixin article and China's...
by ibankbitcoins on September 10, 2017 at 4:40 am
Lets discuss all the potential outcomes in the coming days. We cannot rule out each scenario but we can predict how each case might pan out. I will first discuss each scenario, then the price impact. 1. China follows through with Caixin's article. Bitcoin/Ethereum/Altcoins are banned. This will cause a severe drop in BTCCNY and a huge CNY and USD disconnect will happen. A huge premium delta in USD is already happening at around 12%, historically, I believe at one point CNY premiums were 15% […]
Bitcoin market update July 24 2017
by ibankbitcoins on July 24, 2017 at 11:35 pm
Bitcoin market update, testing your patience as a trader/investor. An old proverb in trading has been about having the patience to wait it out in a winning trade. Jesse Livermore says it best: “it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!” Bitcoin is finally getting its well deserved upgrade. While many may disagree from political/ideological point of view, we can all agree that bitcoin will scale. There will be […]
My career as a trader; email to a mentor
by ibankbitcoins on July 23, 2017 at 9:49 am
Took out personal details. Hey, this is ibankbitcoins. A few years back in 2011, you came by my parents house for dinner. It has been a long journey since our last conversation. The reason for this email is because you were a deep inspiration in my career’s success however short our conversation was. So here is my story: Steve Job said, find what you love and connect the dots looking backwards; you said the similar at the dinner table. I had to pick a career between Ph.D in electrical […]
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 […]
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.