A Complete Guide to Bitcoin Technical Analysis
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Latest Price News and Analysis
Novogratz Says Cryptos Are Safe, Expects Bitcoin to Rally In Q1 2019
by Jimmy Aki on October 20, 2018 at 5:08 pm
Mike Novogratz, a prominent cryptocurrency investor, and CEO of Galaxy Investment Partners has toned down his optimism, reiterating that he doesn’t expect a price surge in the price of Bitcoin until institutional adoption occurs, which could happen in the first half of next year. Speaking with Bloomberg’s Erik Schatzker on “Bloomberg Markets: The Close,” the The post Novogratz Says Cryptos Are Safe, Expects Bitcoin to Rally In Q1 2019 appeared first on CCN […]
Monero Price Analysis: Price Stable, XMR is Bullish above $100
by Dalmas Ngetich on October 20, 2018 at 2:15 am
36 hours after hard forking and Monero buyers are yet to confirm Oct 15 gains. If anything, there seems to be resistance for upsides and this is negative for bulls. Anyhow, we suggest aggressive buyers to load at spot prices with stops at $190 while risk-averse traders should be on the side lines until there... The post Monero Price Analysis: Price Stable, XMR is Bullish above $100 appeared first on NewsBTC. […]
Altcoins Price Analysis: Coins Ready to Rally as ADA, Stellar, Litecoin...
by Dalmas Ngetich on October 20, 2018 at 2:00 am
While Litecoin might be a “relic” according to Tushar Jain, their developers are ready to slash transaction costs by a factor of 10 once Litecoin core 0.17 goes live. The release date is tentative but what we know for sure is that EOS trade volume are roughly five percent that of Ethereum. Besides, it’s prone... The post Altcoins Price Analysis: Coins Ready to Rally as ADA, Stellar, Litecoin Reject Bears appeared first on NewsBTC. […]
If Your Bitcoin is Stolen, There’s Only a 20% Chance You’ll Ever Get...
by David Hundeyin on October 19, 2018 at 10:09 pm
If you’re ever so unfortunate as to become the victim of a bitcoin theft, there’s very little chance that you will ever see your cryptocurrency assets again. For this reason, security experts have suggested that only a fraction of these cases ever get reported, as victims believe they are not likely to retrieve stolen cryptocurrency. The post If Your Bitcoin is Stolen, There’s Only a 20% Chance You’ll Ever Get it Back appeared first on CCN […]
$571 Million: Notorious North Korean Hacker Group Has Stolen a Fortune in...
by Neil Mathew on October 19, 2018 at 9:13 pm
Even though blockchain technology has all sorts of security applications, one thing is for sure: cryptocurrency exchanges are vulnerable to cybersecurity attacks, and hackers have exploited these flaws for massive gains. However, no hacker crew has been quite as successful as the infamous North Korean group of hackers, dubbed “Lazarus,” which is responsible for the The post $571 Million: Notorious North Korean Hacker Group Has Stolen a Fortune in Cryptocurrency appeared first on CCN […]
Bitcoin Price Intraday Analysis: BTC/USD in Pullback Action
by Yashu Gola on October 19, 2018 at 6:20 pm
The bitcoin-to-dollar exchange rate started losing its grip on the sideways action, slipping almost a percent this Friday. The pair broke below 6400-fiat, the psychological support level of the previous trend, to establish new intraday lows towards 6356-fiat. The downside action appeared after bulls began to feel weak near the giant descending trendline formation that The post Bitcoin Price Intraday Analysis: BTC/USD in Pullback Action appeared first on CCN […]
Is a Gradual Decline to $3,500 in Play For Bitcoin?
by Davit Babayan on October 19, 2018 at 10:03 am
Bitcoin so far has been able to find support above the so-called bottom area below $6,000. But it is not enough to beat the long-term bearish bias, according to a famous cryptocurrency analyst. Crypto Thoreau, in one of its latest tweets, predicted that Bitcoin price is in for a drop towards $3,500. The analyst backed his... The post Is a Gradual Decline to $3,500 in Play For Bitcoin? appeared first on NewsBTC. […]
Bitcoin Price Watch: BTC/USD Remains Vulnerable Below $6,450
by Aayush Jindal on October 19, 2018 at 9:28 am
Key Points Bitcoin price extended losses and declined below the $6,450 support level against the US Dollar. Yesterday’s highlighted key bullish trend line was broken with support at $6,435 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price declined below the $6,400 support and the 100 hourly simple moving average.... The post Bitcoin Price Watch: BTC/USD Remains Vulnerable Below $6,450 appeared first on NewsBTC. […]
Cardano Price Analysis: ADA/USD Could Extend Slides To $0.0720
by Aayush Jindal on October 19, 2018 at 8:28 am
Key Highlights ADA price failed to gain momentum above $0.0800 and declined recently against the US Dollar (tethered). There is a key bearish trend line formed with resistance at $0.0790 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to extend the current decline towards the $0.0735 or... The post Cardano Price Analysis: ADA/USD Could Extend Slides To $0.0720 appeared first on NewsBTC. […]
Ripple Price Analysis: XRP/USD Could Correct Lower To $0.4350
by Aayush Jindal on October 19, 2018 at 7:30 am
Key Highlights Ripple price failed to stay above the $0.4600 support and declined recently against the US dollar. There was a break below an ascending triangle pattern with support at $0.4630 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure and it seems like it could... The post Ripple Price Analysis: XRP/USD Could Correct Lower To $0.4350 appeared first on NewsBTC. […]
Bitcoin Volume Approaches Yearly Low Again as Market Deletes $6 Billion
by Joseph Young on October 19, 2018 at 6:32 am
Over the past 48 hours, the volume of Bitcoin (BTC) has fell substantially from over $5 billion to $3.8 billion, and is quickly moving to its yearly low. On CoinCap.io, ShapeShift’s official cryptocurrency market data provider, the volume of Bitcoin remains at around $2.54 billion. If the volume of BTC drops by around 15 percent The post Bitcoin Volume Approaches Yearly Low Again as Market Deletes $6 Billion appeared first on CCN […]
Ethereum Price Analysis: ETH/USD Bearish Below 100 SMA and $206
by Aayush Jindal on October 19, 2018 at 6:28 am
Key Highlights ETH price declined further and traded below the $205 and $200 support levels against the US Dollar. There was a break below a major bullish trend line with support at $204 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently struggling below the $206 resistance and the 100... The post Ethereum Price Analysis: ETH/USD Bearish Below 100 SMA and $206 appeared first on NewsBTC. […]
Bitcoin (BTC) Price Watch: Are Bears Back in the Game?
by Sarah Jenn on October 19, 2018 at 4:35 am
Bitcoin Price Key Highlights Bitcoin price appears to be turning from the resistance at the top of its descending triangle on the 4-hour chart. Price could be making its way back to the bottom of the triangle again from here. Technical indicators are also reflecting the presence of selling pressure that could keep gains in... The post Bitcoin (BTC) Price Watch: Are Bears Back in the Game? appeared first on NewsBTC. […]
Bitcoin Cash Price Analysis: BCH/USD Turned Sell on Rallies Near $440
by Aayush Jindal on October 19, 2018 at 4:28 am
Key Points Bitcoin cash price declined further and traded close to the $420 support level against the US Dollar. There is a new bearish trend line in place with resistance near $435 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to face a lot of selling interest... The post Bitcoin Cash Price Analysis: BCH/USD Turned Sell on Rallies Near $440 appeared first on NewsBTC. […]
Cardano Price Analysis: Every Low a Buying Opportunity for ADA Bulls
by Dalmas Ngetich on October 19, 2018 at 2:15 am
Regardless of the politics around ZRX CoinBase listing, ADA could possible bottom up despite yesterday’s losses. Overly, we maintain a bullish stand now that there has been a strong correction from 2017 highs with bears threatening to dip below ADA’s all-time-lows at 6 cents. Latest Cardano News As I type this, ZRX, an ERC-20 token... The post Cardano Price Analysis: Every Low a Buying Opportunity for ADA Bulls appeared first on NewsBTC. […]
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.