Category Archives: bitcoin trading

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Bitcoin Price Analysis, 28th May 2018: BTC/USD Dips Below $7,200

Bitcoin prices are moving to new lows with BTC/USD prices dipping to USD 7,100 levels within this trading session. All this selling pressure is expressed under a period of decreased trading volumes. Signals are indicating that the bear market might still be holding strong.

The day’s signals

  1. BTC/USD experiences losses around 4% in the last 24 hours with the more recent dip around USD 7,100 levels.
  2. Sizable downward spikes appear to be the moving force behind the price decline amid a stagnant trading session with low volumes.
  3. Bitcoin traders only appeared to be taking consideration for a few hours before each new price fall.

bitcoin gdax-btcusd-May-29-2018-5-21-41

GDAX BTC/USD charts are showcasing the market’s lack of support as prices keep falling. Bitcoin markets experienced a dip from price levels slightly below USD 7,400 down to sub USD 7,200 levels. Traders don’t seem to flinch with such downward pressure under such a bearish market sentiment. The reaction traders appear to have to downward spikes of that size goes to show that the market’s sentiment is bearish as ever in the last few weeks.

Bitcoin okcoin-btcusd-weekly-futures-May-29-2018-5-21-45

OKEX BTC/USD weekly futures charts showcase a similar mood. Futures traders are mirroring movements of live markets closely. The spread between futures rates and spot prices remain minimal with futures staying especially close to live markets during each dip. Provided that downward spikes keep being the driving force behind all notable moves in the market, Bitcoin futures traders are cautiously following what happens in live markets.

The overall outlook of Bitcoin markets looks grimmer day after day. On the plus side, the state of Bitcoin markets might not be just as bad as certain altcoins. Bitcoin’s fall is prompting a market-wide downtrend though. And with new lows being reached day after day, the market would need something more than just volumes to form support and break through the pressure.

 

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Bitcoin Price Analysis, 25th May 2018: BTC/USD Met With Resistance Below $7500

Bitcoin appears to be coming under a bear market with signals indicating dramatic shifts in the sentiment of traders. Prices keep being in a downward spiral now with volumes also coming down.

The Day’s Signals

  1. Bitcoin prices fell from the day’s peak at USD 7,700 price levels with a drop down to USD 7,300 levels earlier today.
  2. While a recovery was realized above USD 7,500 prices, a selloff had traders taking consideration at USD 7,400 levels.
  3. Selling pressure now seems to be forming a resistance level below USD 7,500.

bitcoin gdax-btcusd-May-25-2018-23-58-58

GDAX BTC/USD charts are indicating the shattering of support levels with today’s downward spike. While markets did recover, the downtrend keeps prices from rising. Through more recent hours, a fall further down to USD 7,300 levels keeps seeming more plausible. It’s obvious that consideration after the recovery didn’t manage to last too long. Traders succumbed to a bearish breakout with the downward spiral even continuing after it. It’d be safe to assume that resistance levels might be starting to form below USD 7,500 levels with the markets even being vulnerable to further price falls as volumes remain low.

Bitcoin okcoin-btcusd-weekly-futures-May-25-2018-23-59-7

OKEX BTC/USD charts showcase that futures traders are continuing to support closely mirroring spot prices. There hasn’t been much space for a difference between the two markets with so much uncertainty around. Traders in markets for bitcoin futures have surely gotten wind of the worsening market sentiment that’s driven by uncertainty. With trading volumes continuing to go down from being already low in previous trading sessions