Bitcoin Price Technical Analysis for 06/09/2016 – Hovering Near Channel Support
Bitcoin price is on a short-term uptrend and is still deciding whether to make a bounce or a break from support. Bitcoin Price Key Highlights. Bitcoin price has been slowly trending higher following its strong upside breakout last month. Price is trading inside an ascending channel visible on its 1-hour time frame and is testing support. A bounce off this area could lead to a test of the resistance near $600 but a downside break could spur a longer-term selloff. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside, indicating that....
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Bitcoin price has been consolidating at the bottom of the ascending channel, with buyers still trying to push for a bounce. Bitcoin Price Key Highlights. Bitcoin price has been trending higher and moving inside an ascending channel on its 4-hour and 1-hour time frames. Price is still hovering around the channel support and a bounce might be in order. If so, bitcoin price could make another test of the resistance around $465. Technical Indicators Settings. The 100 SMA is above the longer-term 200 SMA, confirming that the path of least resistance is to the upside and that the uptrend could....
Bitcoin price is hovering at the resistance of the short-term descending channel and could be in for a continuation or reversal. Bitcoin Price Key Highlights. Bitcoin price seems to be establishing a downtrend now that it’s forming a descending channel on its 1-hour time frame. Price is now testing the channel resistance, still deciding whether to make a bounce or a break. Technical indicators seem to be indicating that the selloff could resume but there are also potential arguments for a reversal. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of....
Bitcoin price could keep going for gains as the bullish channel on the short-term charts is staying intact. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside a short-term bullish channel on its 15-minute time frame. Price is hovering around the middle of the channel, still deciding whether to make a test of support or climb back to the resistance. Technical indicators are suggesting that the uptrend could carry on. Technical Indicators Signals. The 100 SMA is above the 200 SMA on this time frame, confirming that the path of least resistance is to the....
Bitcoin price could be due for a bounce off the channel support, with technical indicators reflecting the presence of buying momentum. Bitcoin Price Key Highlights. Bitcoin price has been steadily climbing on its 1-hour chart, moving inside an ascending channel pattern. Price bounced off the top of the channel once more and is now making a move towards support. If this area holds as a floor once more, bitcoin price could make its way back up to the channel resistance. Technical Indicators Signals. The 100 SMA just crossed above the 200 SMA to indicate that the path of least resistance is....
Bitcoin price might be able to break below the channel support if dollar demand picks up in the latter sessions. Bitcoin Price Key Highlights. Bitcoin price is still stuck inside the ascending channel pattern on the 4-hour time frame and still hovering around support. Price has been consolidating above the $450 level for quite some time, as bears are trying to find more energy for a downside break. The FOMC minutes failed to spur dollar demand strong enough for a downside break, leaving bitcoin traders waiting for the next big catalyst. Technical Indicators Signals. The 100 SMA is still....