Bitcoin (BTC) Blasts Through $11,000 Following Bullish Triangle Breakout

Bitcoin price is still moving inside a triangle consolidation pattern but seems to be having trouble pushing for another upside breakout. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle visible on its 1-hour chart. Zooming further back shows that price previously formed a triangle formation then broke to the upside. However, technical indicators are hinting that bitcoin price is having a tough time repeating this bullish performance this time. Technical Indicators Signals. The 100 SMA is below the 200 SMA for now so the path....

Bitcoin Price Key Highlights. Bitcoin price has surged up to the $300 mark once more, testing the long-term ascending triangle resistance visible on the daily time frame. An upside breakout could put bitcoin price on track towards reaching new highs while a return in selling pressure could lead to a test of the triangle support. Bitcoin price is enjoying strong bullish momentum at the moment, with the latest rally taking it up to the top of the ascending triangle around $300. Bounce or Break? Technical indicators are showing that the rally might already be overdone, as stochastic and RSI....

Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle on its 4-hour time frame. Price is currently testing the triangle resistance and waiting for more bullish momentum to trigger an upside break. Technical indicators are giving mixed signals at the moment but a breakout could provide longer-term direction for bitcoin trading. Technical Indicators Signals. The 100 SMA is above the....

Earlier this morning we published a piece that highlighted the action we have seen in the bitcoin price over the past couple of days. We noted the run towards 300 we saw on Tuesday afternoon, the subsequent correction towards 287 flat, and the triangle that formed and contained price action throughout Wednesday morning in Europe. Now the European session is drawing to a close, we have seen the pattern that we highlighted complete, and the bitcoin price once again resume its bullish momentum. With this said, what are the levels to keep an eye on as we head into the early US afternoon....

Bitcoin price followed through with its consolidation breakout and sustained its climb. Bitcoin Price Key Highlights. Following the recent upside breakout from the symmetrical triangle pattern, bitcoin price continued to climb as predicted in the earlier post. Price has now made its way to the triangle highs around $780 and is showing increased buying pressure to form new highs. Technical indicators are giving mixed signals at the moment, but it looks like the odds are in favor of more bullish action. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least....