Bitcoin Price Technical Analysis for 13/04/2015 - Sellers Ready!
On the 4-hour time frame of BTC/USD from Bitstamp, it can be seen that price is forming a huge reversal pattern and may be due for more losses. A head and shoulders formation has been completed, with bitcoin price testing the neckline of the pattern. Technical indicators on the same chart seem to favor a downside break, even as bitcoin price is currently consolidating above the neckline support. A break below the $235 level could mean a drop all the way down to $150, which would be roughly the same height as the pattern. Stochastic is on middle ground but is pointing lower, reflecting a....
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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 rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
Bitcoin price could be ready to resume its dive after this quick correction, but the consolidation does look like a continuation signal. Bitcoin Price Key Highlights. Bitcoin price recently broke below its ascending channel support visible on the 1-hour and 4-hour charts. This signals that the uptrend may be over and that a reversal is in the works. Price found support at the 200 SMA and made a pullback to the broken channel floor, which might now hold as resistance. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA still, which means that the path of least....
Bitcoin price could be ready to resume its dive since technical signals are indicating that bearish pressure is in play. Bitcoin Price Key Highlights. Bitcoin price recently broke below a triangle consolidation pattern visible on longer-term charts, signaling that sellers are getting the upper hand. Price has since formed a steady downtrend on the 1-hour time frame, moving inside a descending channel pattern. Bitcoin is now testing the channel resistance, with technical indicators suggesting that the selloff could resume. Technical Indicators Signals. The 100 SMA just recently crossed....
Bitcoin price could make its way to the 2015 highs near $500 if bulls continue to stay in control even with this week's event risks. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. However, the gap between the moving averages is narrowing so a crossover might still be possible later on. In that case, the resistance could hold and push bitcoin price back to the area of interest around $400. Also, stochastic is indicating overbought conditions and appears ready to head lower. Once it moves below the 80.0 level, sellers could step up their game....