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Dean



Latest Price News and Analysis

  • BNB Price May Have Another Chance For A Bullish Streak: Here’s How
    by Aayush Jindal on April 19, 2024 at 4:58 am

    BNB price is attempting a fresh increase from the $515 zone. The price could gain bullish momentum if it clears the $572 resistance zone. BNB price started a fresh increase after it found support near the $515 zone. The price is now trading below $555 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $540 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $572 […]

  • Ethereum Price Faces Crucial Test: Will $2,850 Withstand the Pressure?
    by Aayush Jindal on April 19, 2024 at 4:18 am

    Ethereum price is still consolidating near the $3,000 zone. ETH could start a steady increase if the bulls push the price above the $3,100 resistance. Ethereum is still struggling to recover above the $3,100 resistance zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a close below the $2,850 […]

  • Bitcoin Price Still At Risk of Major Downside Break Below $60K
    by Aayush Jindal on April 19, 2024 at 3:12 am

    Bitcoin price is showing bearish signs below the $63,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. Bitcoin is still struggling to start a recovery wave above the $63,000 resistance zone. The price is trading below $62,800 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $62,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if it […]

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  • XRP Bulls Roar: Analyst Foresees Explosive Surge With ‘God Candle’ On...
    by Samuel Edyme on April 18, 2024 at 6:00 pm

    XRP investors are eyeing a potential price surge, and one analyst forecasts an optimistic outlook for the cryptocurrency. Dark Defender, a prominent figure in the XRP community, has drawn parallels between the current market movement and the 2017 historic rally. According to Dark Defender, this resemblance suggests a significant upward trajectory for XRP, potentially culminating in what he refers to as a “God Candle.” Related Reading: XRP Price Recovery Could Soon Fade, These Are Key Levels […]

  • LINK Price Eyes Recovery If It’s Able to Hold One Crucial Level
    by Aayush Jindal on April 18, 2024 at 4:40 am

    Chainlink’s LINK price retested the $12.00 support zone. The price is now eyeing a recovery wave above the $13.50 and $15.00 resistance levels. Chainlink price is showing bearish signs below the $15.00 resistance against the US dollar. The price is trading below the $14.20 level and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could start a decent […]

  • Ethereum Price Holds Strong At $3K But Can Bulls Clear This Hurdle?
    by Aayush Jindal on April 18, 2024 at 4:07 am

    Ethereum price is consolidating near the $3,000 zone. ETH could start a decent recovery wave if it clears the $3,100 and $3,200 resistance levels. Ethereum is struggling to recover above the $3,100 resistance zone. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $3,035 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it stays below the $3,100 resistance zone. […]

  • Bitcoin Price At Make-Or-Break Moment, Key Levels To Watch
    by Aayush Jindal on April 18, 2024 at 3:27 am

    Bitcoin price is still struggling below the $65,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. Bitcoin is still struggling to gain pace for a move above the $65,000 resistance zone. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $63,000 […]

  • XRP Whales Are On The Move Again, But Are They Bullish Or Bearish?
    by Scott Matherson on April 17, 2024 at 11:00 pm

    XRP could continue a price correction in the short term as recent price action has put it rebounding against a resistance level of $0.5. On-chain data has also revealed a row of transactions from whales of the cryptocurrency in the past 24 hours, but are they bullish or bearish on XRP? These large transactions have been a mix of both, although the trading volume of each transaction could point to them being bearish rather than bullish.  XRP Whales On The Move Large XRP transactions, often […]

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  • Analyst Keeps Faith In XRP, Targets $288 Despite Price Retreat
    by Christian Encila on April 17, 2024 at 10:00 am

    In the tumultuous world of cryptocurrency, where prices can soar to unprecedented heights one day and plummet to new lows the next, XRP, the digital asset associated with Ripple, finds itself at the center of attention once again. Despite recent dips in its value, XRP enthusiasts remain steadfast in their optimism, fueled by the unwavering confidence of cryptocurrency analyst Javon Marks. Related Reading: Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today? Analyst’s Bold […]

  • XRP Price Recovery Could Soon Fade, These Are Key Levels To Watch
    by Aayush Jindal on April 17, 2024 at 4:48 am

    XRP price is struggling to recover above the $0.5140 resistance. The price must stay above the $0.4550 support to attempt a fresh increase in the near term. XRP is attempting a recovery wave above the $0.450 zone. The price is now trading below $0.550 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $0.5440 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if there is a close below the […]

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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:

  1. 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.
  2. 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.
  3. 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.
  4. 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:

Technical Summary Widget Powered by Investing.com

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.