Bitcoin Price Technical Analysis for 12/26/2016 – Bulls in a Festive Mood Above $900
Bitcoin price is bracing itself for a strong finish for the year, as it raked in more gains above $900. Bitcoin Price Key Highlights. Bitcoin price carried on with its climb as expected, after breaking past the $800 barrier a few days back. Price topped near $950 before making a pullback on Christmas Day, which then offered bulls a chance to add to their long positions or draw more buyers in. Price could be on its way to breaking past the recent highs from here. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the 4-hour time frame of bitcoin, confirming that....
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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 is reattempting a move higher but the progress is slow and both technical and sentiment analysis shows a bearish mood in the chart. Yesterday’s technical analysis concluded that the outlook for bitcoin price is bearish while it fails to break above the prevailing resistance ceiling (blue down-sloping line in the chart). Ongoing analysis is informed by the position of price in relaiton to this ceiling: if the market can successfully trade price above it, we can expect continuing advance. As long as price remains below it, we can expect another series of lower lows. Mood....
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 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 trading is currently correcting upwards in the price chart but the technical indication is that more downside is on the cards. Regardless, the current mood of negativity does not promote buying behavior, but its increased intensity, over the weekend, implies that a decline bottom may be near. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 04h21 UTC. BTC-China 1-Hour Chart. From the analysis pages of xbt.social, earlier today:....