John_BitcoinGroup

John_BitcoinGroup

There has still been no clear retracement of the past week’s bullish movements, with the price having bounced back into the $267 - $285 range. It is likely that a correction and the direction of the trend will be decided very soon. The $267 level is the clearest indicator, staying below it will most likely mean further retracement. Upside potential can largely...

John_BitcoinGroup

The price has successfully stayed above the long term bearish trend line after having broken it late last week. This isn’t enough to signal a reversal to a bullish trend, but it does show a further weakening of downward pressure. Currently the price is above the 38.2% retracement, with resistance around the $278 level. At the current range of between $270 and...

John_BitcoinGroup

Since the move down from $268 to $228 last week, the $232 level has remained the lowest support level. The $243 level in not only the 38.2% retracement level of last week’s drop, but also a main support/resistance level of the past month and the point that the price has struggled to stay above for the past week. In the past 24 hours we have seen another rebound...

John_BitcoinGroup

The price has failed to break past the 38.2% retracement level of the move down from $450 to $152 of the past 3 months. Late January saw a short lived break that reached the 50% retracement level, before a subsequent drop down to the 23.6% level where it has stayed for much of February. Currently the price is moving back down towards the past month’s main support...