Bitcoin Price Technical Analysis - Ain't No Stopping 'Em Bulls!
Bitcoin Price Key Highlights. The bitcoin price rally has been proven unstoppable, with bulls pushing for new highs past the $400 and $450 psychological resistance levels. Bitcoin price even completed an upside break past a double bottom formation visible on the daily time frame. Bitcoin price could be in for much more gains, as three bullish candles formed after the confirmation of a long-term uptrend signal. Aiming for $500? No signs of a major correction or even a slight pullback are materializing for now, which suggests that bullish pressure continues to build up. If so, bitcoin price....
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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....
All hell has broken loose in the Bitcoin market! The price of Bitcoin crashed more than 13 percent intraday after bears crushed the bulls following the Bitcoin XT controversy. As of now, short covering has helped lift the price up to $235.66, still off more than 7 percent. With this, all the hard work done by the bulls since June has been undone. In the previous Bitcoin price technical analysis, The Pressure is Simply Too Much, I had clearly stated that if the selling pressure were to increase even slightly, it would lead to a breakdown kind of situation in the cryptocurrency. My short....
I had said in the previous Bitcoin price technical analysis Can Bitcoin Survive This? with high optimism that the current price level may attract inflow to stem the decline. However, I have been proved wrong. The selling pressure is overwhelming the bulls, and a further increase may lead to a breakdown kind of situation in Bitcoin. Bitcoin is currently available at $255.47, down 0.49 percent. I had also pointed out earlier that if the bulls are thrashed in the next couple of sessions, there will be a higher probability of the price skidding to the consolidation zone near $240. I still....
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 has risen more than 1% since yesterday to $295.76 as bulls made another attempt at crossing the supply hurdle. As technical factors come into play, we may eventually see a decisive breach of the resistance. In the last analysis Bulls Struggle At Resistance, I had concluded that Bitcoin is a buy on dips opportunity, and as can be seen, the price did dip to $286.43 before bulls rushed in to add Bitcoin to their portfolio and took the price to an intraday high of $297.44. Looking technically at the daily BTC-USD price chart conveys that even though the price rise is still capped by....