A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Stellar Lumens (XLM) trading cryptocurrency market update for Mar 25, 2019
on March 26, 2019 at 12:11 am
Bitcoin trading can be extremely profitable for professionals or beginners. The market is still new. Learn the best strategies with this article. […]
Why Fake Crypto Volume Plague Could Actually Raise Odds of Bitcoin ETF...
by Joseph Young on March 25, 2019 at 8:15 pm
In March 2017, the U.S. Securities and Exchange Commission (SEC) denied the first ever bitcoin exchange-traded fund (ETF) proposal. Since then, many bitcoin ETF applications have been filed by nearly ten companies, and many of them have been rejected by the SEC for similar reasons. This week, in a presentation to the SEC, Bitwise revealed that the overwhelming majority of the trading volume in the bitcoin exchange market is fake and that a substantially large portion of the global bitcoin […]
Quora Removes Schwartz’s “Joke” , Ripple (XRP) Drop with Light...
by Dalmas Ngetich on March 25, 2019 at 7:41 pm
Ripple price drop 3.5 percent Quora deletes David Schwartz’s joke answer Transaction volumes low as prices range Quora’s moderation team removed David Schwartz‘s comment because it is a “joke” answer highlighting the level of censorship in centralized systems. All the same, Ripple prices are under pressure and slowly dropping towards 30 cents. Ripple Price Analysis... The post Quora Removes Schwartz’s “Joke” , Ripple (XRP) Drop with Light volumes […]
Binance Coin (BNB) 100 Percent Surge not an Impossibility
by Dalmas Ngetich on March 25, 2019 at 6:00 pm
Binance coin up 6.1 percent in the last day BNB rallying because of fundamental reasons, next target $26 Volumes spike, participation more than double after Mar 24 close Driving Binance Coin (BNB) prices are fundamental reasons. The coin is up 6.1 percent from last week’s end. After the announcement of Binance Margin trading plans and... The post Binance Coin (BNB) 100 Percent Surge not an Impossibility appeared first on NewsBTC. […]
Bitcoin (BTC) Dominance Drop to 50 Percent, will Sell-off Boost Altcoins?
by Dalmas Ngetich on March 25, 2019 at 5:04 pm
Bitcoin Prices slumping Solactive and CMC launching two crypto indices Transaction volumes less than half those of late Feb CMC in partnership with Germany’s Solactive will launch two crypto indices. Data broadcasts will be from several terminals including Bloomberg’s GDIS and Börse Stuggart. With information based on performance, Bitcoin (BTC) traders will be better equipped... The post Bitcoin (BTC) Dominance Drop to 50 Percent, will Sell-off Boost Altcoins? appeared first on […]
Bitcoin Blockchain Costs Approx. $7 Million a Day to Stay Secure
by Davit Babayan on March 25, 2019 at 4:33 pm
It takes an average of $7 million every day to secure the Bitcoin blockchain network, according to Messari. The cryptocurrency data portal published a new screener this Monday which outlined the revenues paid to miners for top proof-of-work coins. The Screener based its figures on new issuance and transaction fees, eventually finding that Bitcoin produced... The post Bitcoin Blockchain Costs Approx. $7 Million a Day to Stay Secure appeared first on NewsBTC. […]
Bitcoin is Nothing More Than ‘Bovine Excrement’: Berkeley Researcher
by Josiah Wilmoth on March 25, 2019 at 3:40 pm
Move over, Jamie Dimon, because there’s a new contender for the coveted title of “king bear of the bitcoin-bashing brigade”: technologist Nicholas Weaver. Technologist Nicholas Weaver Rants Against Bitcoin While he might not have the mainstream name recognition of Jamie Dimon, or Warren Buffett, or even Nouriel Roubini, Weaver – a senior researcher at the International Computer Science Institute at Berkeley – has proven that he can sling bitcoin barbs like the best […]
Bitcoin (BTC) Price Won’t Go Quietly, Risk of Break Grows
by Aayush Jindal on March 25, 2019 at 6:30 am
Bitcoin price is currently consolidating above the $3,940 support area against the US Dollar. The price is likely to grind higher above $4,000 as long as it is above the $3,940 support. There is a key bearish trend line is forming with resistance at $3,980 on the hourly chart of the BTC/USD pair (data feed... The post Bitcoin (BTC) Price Won’t Go Quietly, Risk of Break Grows appeared first on NewsBTC. […]
Crypto Market Testing Key Hurdle: BNB Rallies 12%, Bitcoin Cash, EOS, TRX...
by Aayush Jindal on March 25, 2019 at 6:00 am
The total crypto market cap seems to be facing a couple of important resistance levels. EOS price is slowly moving higher from the $3.62 support area, with a positive angle. Binance Coin (BNB) surged more than 10% and broke the $16.50 resistance. Bitcoin cash price is currently consolidating above the $165 support level. Tron (TRX)... The post Crypto Market Testing Key Hurdle: BNB Rallies 12%, Bitcoin Cash, EOS, TRX Analysis appeared first on NewsBTC. […]
Ripple Price Analysis: XRP Facing Uphill Task With Sellers In Control
by Aayush Jindal on March 25, 2019 at 5:00 am
Ripple price recovered recently, but it failed to break the $0.3120 resistance against the US dollar. The price is slowly declining and it is currently trading well below the $0.3100 level. There is a crucial bearish trend line formed with resistance at $0.3065 on the hourly chart of the XRP/USD pair (data source from Kraken).... The post Ripple Price Analysis: XRP Facing Uphill Task With Sellers In Control appeared first on NewsBTC. […]
Ethereum Price Analysis: ETH Could Jump If It Closes Above 100 SMA
by Aayush Jindal on March 25, 2019 at 4:08 am
ETH price is forming a decent support near the $134 level against the US Dollar. The price is currently moving higher and testing the key $136 resistance and the 100 hourly SMA. There is a major bearish trend line formed with resistance at $136 on the hourly chart of ETH/USD (data feed via Kraken). The... The post Ethereum Price Analysis: ETH Could Jump If It Closes Above 100 SMA appeared first on NewsBTC. […]
Bitcoin Basher Agustin Carstens Rails Against Central Bank Crypto Projects
by Joseph Young on March 24, 2019 at 7:15 pm
Agustin Carstens, Bank for International Settlements (BIS) general manager and a noted bitcoin critic, has said that the launch of central bank-backed crypto assets could undermine financial stability. During his speech at the Central Bank of Ireland, the BIS official said: “There are huge operational consequences for central banks in implementing monetary policy and implications for the stability of the financial system. Central banks do not put a brake on innovations just for the sake […]
Is Ripple (XRP) Crumbling? ETH Gap Widens to $1.5 Billion
by Dalmas Ngetich on March 24, 2019 at 6:00 pm
Ripple prices down three percent from last week’s close Price surges depend on xRapid adoption Participation levels low and almost half that of Feb 24 At third with a market cap of $12,861 at the time of press, Ripple (XRP)—like the rest is under pressure. However, this has been compounded by regulatory uncertainty which is... The post Is Ripple (XRP) Crumbling? ETH Gap Widens to $1.5 Billion appeared first on NewsBTC. […]
Will Bitcoin Shine? After Ponzi Jab, BIS Boss Says CBDC Destabilizing
by Dalmas Ngetich on March 24, 2019 at 5:00 pm
Bitcoin price under pressure Carstens of BIS against central bank digital currencies (CBDCs) Volumes low and drop below or above Mar 21 high-lows must exceed 13k According to BIS’s Carstens, central banks shifting to CBDCs will destabilize the economy. However, that is not stopping some central banks from experimenting with them. Meanwhile, Bitcoin (BTC) is... The post Will Bitcoin Shine? After Ponzi Jab, BIS Boss Says CBDC Destabilizing appeared first on NewsBTC. […]
Bitcoin Price: Key Technical Indicator Shows BTC Surging to $5,500
by Joseph Young on March 23, 2019 at 6:30 pm
Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range. However, a cryptocurrency technical analyst known to the community as […]
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.