Bitcoin Price May Be Technical
There may be some words of encouragement for those wondering why the price of Bitcoin seems to keep falling. In fact, if we look at the Bitcoin price chart using a longer time frame and the logarithmic scale we can see the price bounded by some lines called support and resistance. Looking at the long term chart we see that Bitcoin price is bounded from above and below by the long term up channel. Bitcoin Price is bounded by support and resistance lines. If we zoom into the top of this chart we can see a close up of the downtrend line that creates upward resistance: Upward resistance....
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Bitcoin price is sustaining its climb but there are technical signals hinting at a possible selloff. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside an ascending channel pattern on its 1-hour chart. Price is cruising around the mid-channel area of interest, as buyers and sellers are likely waiting for more directional market clues. Technical indicators seem to be suggesting that a reversal is imminent, though. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. Also, the gap....
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
Bitcoin remains at the same price level from last week, reinforcing the $600 support area for the entire new cycle. Meanwhile, technical analysis indicates that bullish consensus is getting stronger, increasing the likelihood of a rally from $650 to $820. 5th Elliott Wave forecasting, based on Fibonacci numbers, could be calculated to the technical objective around the $820 area, where several theories point to the delayed next stage. From there, a technical correction should send prices back to $700, giving stragglers a second chance to recalculate their strategies to join. After another....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.