Bitcoin Price Technical Analysis for 12/12/2016 – Another Triangle Breakout?

Bitcoin price could be due for a strong break out of its consolidation pattern, but traders still seem to be undecided which way to push. Bitcoin Price Technical Analysis. Bitcoin price is still stuck in its consolidation pattern visible on the 4-hour time frame. Price is already at the peak of the symmetrical triangle formation, which means that a breakout could take place anytime now. Technical indicators and market sentiment appear to be hinting at a downside break. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. A....

Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....

Bitcoin price is trading inside a symmetrical triangle consolidation pattern and might be ready for a breakout. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $616 level, creating an ascending triangle pattern on the 1-hour time frame. Price is currently testing the resistance and could be due for a breakout sooner or later. Technical indicators are giving mixed signals on where bitcoin price could go next. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside. The chart pattern is....

Bitcoin price is still staying inside the consolidation pattern for now but could be ready to break out as it approaches the peak of the formation. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle formation as illustrated in an earlier article. Price just bounced off the triangle support after a number of tests and is now making its way to the top. Technical indicators seem to be suggesting that a downside breakout is due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, which means that the path of....

Bitcoin price is still stuck inside the triangle consolidation pattern but might be gearing up for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and found support around $730, creating a descending triangle pattern. Price just bounced off support and might be ready for a test of resistance at $750-755. Technical indicators seem to be hinting that the resistance would hold, although a breakout is possible with this week’s event risks. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is still to....