Bitcoin Price Dips on Pattern: Now What?
Earlier this morning we published our twice-daily bitcoin price watch piece. In the piece, we highlighted levels that we were keeping an eye on bitcoin price throughout Tuesday's session, and suggested how we would respond to price reaching these levels as far as entering according to our intraday scalp strategy was concerned. Now, as action has matured throughout the European session and we head into a fresh Asian morning, what are the levels that we are going to be watching in the bitcoin price tonight, and where will we be looking to draw profit if we reach or break these levels? Take a....
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Bitcoin price is currently in a bullish trend against the US Dollar, and it looks like the BTC/USD pair may trade further higher this week. Key Points. Bitcoin price surged higher this past week versus the US Dollar to register a close above the $635 resistance. There is a flag pattern forming on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which may ignite another rally. The price may break the recent high of $647 to challenge the $650 level moving ahead. Bitcoin Price Buy Dips. In the last weekly analysis, I stated that Bitcoin is a good buy on the dips against the US Dollar....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s Tuesday morning, and time to take the first of our two looks at the action in the bitcoin price for today. Before we do, let’s take a quick look at what happened overnight, as this is going to influence how we approach the markets this morning. Specifically, action last night formed something of a head and shoulders pattern on the five-minute chart. A head and shoulders forms when we get a peak, a dip, a higher peak, which then dips into another peak similar in height to the first, but not as high as the....
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Bitcoin struggled to gain pace above the $48,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $46,000. Bitcoin gained pace above $47,500 and traded as high as $48,200. The price is trading above $46,500 and the 100 hourly simple moving average. There is a key breakout pattern forming with support near $46,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $46,000 support zone. Bitcoin Price Remains Supported Bitcoin price extended increase above the $47,500 resistance....
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