Bitcoin Price Technical Analysis - Bulls Ready to Push Higher?
Bitcoin Price Key Highlights. Bitcoin price has been trending higher, taking on new highs in the past few days. Price has topped at the $335 area before retreating, making a corrective wave to the rising trend line support and 200 SMA. Bitcoin price has resumed its impulse wave and might be ready to surge past the previous high onto new ones, based on the Fibonacci extension levels. Resistance at $350? Technical indicators are hinting that the recent rally is already overdone and it might be time for buyers to book profits off their latest positions. If so, the previous highs could....
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Bitcoin price is retreating upon reaching its yearly highs but bulls could be ready for another push higher after this pullback. Bitcoin Price Key Highlights. Bitcoin price reached the yearly highs around $780 and profit-taking happened as predicted in the previous article. Price is now making a pullback from its recent rally and could encounter more bulls who are waiting at the next area of interest. Technical indicators are confirming that the uptrend could resume once the correction is completed. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to....
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....
Bitcoin price is pausing from its recent sharp climb, an indication that bulls are waiting for more signals to head higher. The 100 SMA is above the 200 SMA so the path of least resistance is still to the upside. The gap between the moving averages is widening so bulls are gaining more energy. For now, there are enough buyers located around the $565 level which is currently holding as near-term support. A long green candle closing past the $600 mark could confirm that more buyers have joined the mix and are ready to push bitcoin price higher. The breakout was spurred by more Chinese....
Bitcoin witnessed fresh selling and minor profit booking as bulls failed to keep up the upbeat mood and cross the resistance level. In my previous analysis Stalled!, I had stated that if the bulls struggle for too long below the resistance, then it may eventually lead to a decline. I still maintain my view. Another pressure point is the outcome of the FOMC meeting which had Janet Yellen 'mostly optimistic' on the US economy and raised the expectations that the first interest rate hike may come in as early as September. An increase in interest rates will push demand for the greenback....
Bitcoin price broke out of its triangle consolidation pattern, indicating that bulls are ready to take control once more. Bitcoin Price Key Highlights. Bitcoin price was previously stuck inside a symmetrical triangle consolidation pattern as bulls and bears were in a tight race. Bulls eventually won out as price made another upside breakout, following the previous break higher on an earlier triangle formation. This puts bitcoin price on track towards testing the $800 handle, which might spur profit-taking once more. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA....