Bitcoin Price Technical Analysis for 3/7/2015 - Make or Break
Bitcoin price has eased 1.32% from yesterday's trading amid increasing reports that the people of Greece may vote in favor of the austerity measures on July 5 and a Grexit will be averted. The bitcoin price temporarily stooped to a fresh low of $253.19 before gaining above $254. Bitcoin Price is currently trading at $256.14. Technically, Bitcoin price has arrived at a make or break point as it heads into the weekend. The game looks perfectly well balanced and could turn either way. Take a look at what the 240-minute BTC-USD price chart and the technical indicators are saying. Bitcoin Price....
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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....
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....
Bitcoin Price Key Highlights. Just a few weeks after breaking below a bearish pennant on its 4-hour time frame, bitcoin price has formed yet another continuation pattern. Bitcoin price is still stuck inside the triangle or flag formation, with the path of least resistance to the downside since a downtrend is ongoing. Bitcoin price could be due for another break lower, potentially sending it down towards support at the $300 level. Mixed Technical Signals. Technical indicators are giving mixed signals though, which means that a downside break isn't guaranteed yet. For one, the 100 SMA is....
Litecoin price moved a few points higher to trade near the 100 simple moving average on the 2-hours chart (data feed from HitBTC). However, sellers defended the 100 MA successfully and prevented the upside move. There were more than two attempts to break it, but buyers failed to take the price higher. If we look at the technical indicators, then there are a few bullish signs. The 2-hours MACD is in the bullish zone, and the RSI is above the 50 level suggesting that there is a chance of an upside break.
Bitcoin price is sitting at the bottom of the long-term ascending triangle, still deciding whether to make a bounce or a break. RSI and moving averages are hinting at a break while stochastic is suggesting a bounce. To figure out where bitcoin price could be headed next, let’s turn to the technical indicators. The moving averages are showing a downward crossover at the moment, with the shorter-term 100 SMA below the longer-term 200 SMA. This indicates that the path of least resistance might be to the downside, favoring further losses. If a break below the triangle support is seen, bitcoin....