ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

Bitcoin (BTC) Long-term Price Analysis – February 2

Share On Facebook
share on Linkedin
Print

BTCUSD Long-term Trend – Ranging

©

 
• Distribution territories: $4,500, $5,000, $5,500
• Accumulation territories: $2,500, $2,000, $1,500

 
On January 28, bitcoin’s price was dragged southwards past a low seen the past week, which saw it enter a new range. Bitcoin’s price is now trading between the $3,500 and $3,000 marks.

 
The cryptocurrency’s 14-day Sma is located close to the $3,500 mark, while the 50-day SMA is above the 14-day SMA, although the space between them is small. The Stochastic Oscillators have crossed and are seemingly attempting to consolidate around range 20.

 
Taking these indicators into account, the flagship cryptocurrency could see its price go further down. If that happens, traders are advised to stop trading until a strong price movement helps bitcoin’s price action reemerge, in order to have a clearer picture of where the market may go next.

 

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

 

 

SOURCE: https://www.cryptoglobe.com/markets/price-analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com