TA: Bitcoin Signaling Upside Continuation, Why BTC Could Rally Further
Bitcoin price is showing positive signs above the $40,000 level against the US Dollar. BTC is likely to continue higher above $41,000 and $41,500 in the near term. Bitcoin started a fresh increase above the $38,500 and $40,000 resistance levels. The price is currently well above $38,500 and the 100 hourly simple moving average. There […]
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Following a breakout over $700 last week, the market has since been on a tear to the upside as late longs struggle to re-enter below $1000. This is not to say that it has been smooth sailing considering we have seen a few 5 percent pullbacks since the rally began, however, these have been quickly brought up and thus have been short-lived. As Bitcoin continues to push to new highs this December, we can’t help but think about what we mentioned in our previous update. In addition to what appears to be a demand spike caused by global macro worries, the price action since the breakout above....
Bitcoin Price Key Highlights. Bitcoin's price is stuck in a consolidation pattern once more, as bulls are taking a break from their recent strong rally. This type of consolidation pattern has already been seen in the past, with Bitcoin's price making an upside breakout from the bullish continuation signal. The Bitcoin price has formed a bullish flag pattern on its 1-hour time frame, which suggests that more buyers could join the game once an upside breakout occurs. How High Can It Go? The mast of the bullish flag continuation pattern is approximately $30 in height, spanning from $395 to....
Bitcoin price started a fresh increase and it cleared the $62,000 resistance against the US Dollar. BTC traded to a new all-time high near $63,862 and it is likely to continue higher. Bitcoin extended its rise above the $62,000 and $63,000 resistance levels. The price is now trading well above the $62,500 level and the […]
Darkcoin price finally made an upside break from its descending triangle consolidation pattern, indicating a pickup in bullish momentum. This suggests that the cryptocurrency price could continue gaining against bitcoin in the long run. On the daily chart of DRK/BTC from Cryptsy, darkcoin price surged past the triangle resistance around 0.0120 and zoomed past the previous highs around 0.0161. Volume picked up as cryptocurrency traders jumped in the latest rally to take advantage of the bullish continuation signal. Price is retreating close to the previous highs, which might act as support....
Bitcoin price continued to rise yesterday scoring a high of $244. The pattern of the new bullish wave has been established as we explained during our yesterday's "intraday tips" article. By analyzing the 1 day Bitfinex (BTC/USD) charts and plotting the RSI and the 20 day EMA accordingly (look at the below chart), we can conclude the following: The current bullish trend can be viewed as a continuation of the bullish wave that started on the 15th of January, if we consider that the first bullish rally had been halted by a price correction wave that triggered sideways movements for a few....