Bitcoin Technical Analysis - Price Reversal Underway
Bitcoin Technical Analysis reveals that the uptrend is about to reverse from current levels. An exuberant breakout has fizzled out and lost critical momentum. Last week's article warned of a bull trap in the making. If the ensuing downturn is merely a correction, advance may return with a vengeance, but if large market players again fail to participate, matters look different. Takeaway. Traders and investors should brace themselves for a strong price reversal. The advance is losing momentum. Indicators signal overbought conditions and declining volume speaks of a lack of wider....
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Bitcoin price could be due for a short-term uptrend once it confirms this reversal formation, but technical indicators are suggesting otherwise. Bitcoin Price Key Highlights. Bitcoin price has sold off sharply recently but it looks like bears may be tired from the dive. A small double bottom pattern has emerged after price failed in its last two attempts to break below $565. Price has yet to break past the neckline at $575 before confirming the potential rally. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In....
Don’t be alarmed by the current slump in the bitcoin price. In fact, there is still cause for optimism. The market is going through a reversal pattern to the $700 level, where a congestion area should reinforce quotes for another climb to $820, keeping us right on track to hit the projections advanced last week. Bitcoin Price Analysis: Bulls Still in Control. Long-Term Analysis. After testing the lowest support at the $580-$600 level, prices should enter an upward reversal pattern soon, which will allow an initial pull back to $700, extended to Fibonacci´s technical objective at $820. The....
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....
Dogecoin Price Key Highlights. Dogecoin price has been trading below a long-term descending trend line for quite some time, but reversal signals are showing up. Price made a sharp upside breakout, hinting that the downtrend might already be over and that it's time for buyers to take charge. Dogecoin price could be in for more gains, as it made a convincing breakout from the descending trend line connecting its latest highs. Waiting for Technical Confirmation. Technical indicators have yet to confirm the dogecoin price rally since the 100 SMA remains below the 200 SMA for now. This suggests....
Litecoin Price Key Highlights. Litecoin price previously broke below a rising trend line support, indicating that a reversal from the recent climb is underway and that further losses are likely. Price showed follow-through with its bearish move, although a retracement to the broken support zone might still be possible later on. Litecoin price is still being dragged lower by sellers, as the selloff hasn't looked back since its breakdown from the rising trend line on the 4-hour time frame. Technical signals show exhaustion. The selloff might be losing steam, as technical indicators like....