Bitcoin Price Technical Analysis for 21/4/2015 - Triangle Apex
Bitcoin price found support last week just above 216 and started to consolidate. In the 1H chart, we can see that the cryptocurrency rallied to above 230 before starting to make lower highs and higher lows, forming a triangle. Bitcoin Price (BTCUSD) 1H Chart April 21. The 1H chart shows the coiling bitcoin price action as well as the RSI. Price and the 200-, 100-, and 50-hour simple moving averages (SMAs) are all merging together around 223-225. Essentially, there is a volatility squeeze and bitcoin price is approaching the apex. There is a theory that there are many types of cycles,....
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Bitcoin has been consolidating since hitting a low around 166. Price has rebounded above 300 briefly, and then retreated. Still, BTCUSD has been hanging onto the consolidation mode in what appears to be a triangle. With price action already so close to the triangle apex, a breakout is imminent, but it will not be of much significance by itself. Let's see what other technical clues we will need. Bitcoin (BTCUSD) 24/2/2015 Daily Chart. The daily chart shows that since price tagged 300, bearish candles have dominated. In fact, last Friday's bearish candle combined with the previous 4 daily....
A technical analysis chart of bitcoin prices suggests that the digital currency’s value is likely to shoot higher. Technical Analysis Shows A Pennant. The technical analysis chart of Bitstamp’s recent closing prices, originally published on Sober Look, shows that a triangular pattern known to technical analysts as a pennant has formed. Can a Pennant....
In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....
Since the last Litecoin price technical analysis Will This Support Hold?, Litecoin has gained $0.067 or 2.45 percent to trade at $2.800. The better part is that Litecoin is currently in a short-term technical pattern which will lead to a big swing in the price. Read on below the latest technical considerations of the daily LTC-USD price chart. Litecoin Chart Structure - Upon a closer look at the price action of the past 6-7 sessions, it can be found that Litecoin has been trading in a small triangle. A triangle, which is a continuation pattern, in a downtrend implies that a bigger downmove....
Bitcoin price rose 2 percent to cross the $270-mark. I discussed in my previous Bitcoin price analysis titled Time to buy some that the cryptocurrency could stage a small comeback rally as technical factors played out. Bitcoin price touched an intraday high of $271.50 and is now trading at $270.22. Technical analysis of the daily BTC-USD price chart states that market participants should exit their long trades if the price were to rise further to $275-277. Bitcoin Chart Structure - The support of the descending triangle will now act as the resistance for Bitcoin. The downward sloping....