Bitcoin Price Intraday Analysis for 17/11/2015 - Another Triangle Pattern!
Bitcoin Price Key Highlights. Bitcoin price is stuck in consolidation once more, moving inside an ascending triangle pattern visible on its 1-hour time frame. Price previously broke below an earlier triangle pattern, hinting that another downside break might be in the cards. Bitcoin price is currently testing the ascending triangle resistance, still deciding which direction to take, with technical indicators giving mixed signals. Buyers Still in Control. Stochastic is heading north so bitcoin price could still follow suit, potentially spurring an upside break from the triangle resistance....
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Bitcoin Price Key Highlights. After spending weeks sitting pretty inside a tight consolidation pattern, bitcoin price is finally getting back on its feet and showing some momentum. A downside breakout from the ascending triangle pattern and short-term pennant formation appears to be taking place. Bitcoin price could be in for more downside now that a long red candle has closed below the ascending triangle support at $330. How Low Can It Go? Bitcoin price could have its sights set on the bottom of the triangle pattern near the $300 major psychological level as its target for the selloff.....
Here's a look at what we are focusing on in the bitcoin price this morning. Yesterday morning, we outlined a triangle pattern that had formed in the bitcoin price, and discussed a trading strategy that would see us go at our intraday operations using this triangle as an entry guide. Specifically, if price broke through the parameters of the triangle to either the upside or the downside, we would get in to the markets in the direction of the break and look to target a quick intraday profit on the breakout. Unfortunately, things didn’t quite work out as we’d hoped. Price failed to break in....
Bitcoin price is eyeing for a break in March 2016. Let us see how it may trade during the remaining part of the week. Intraday Support Level can be $400. Intraday Resistance Level may be $425. Bitcoin price is trading in a range for the past couple of weeks, but if we look at the weekly chart, then we will know that BTCUSD is actually forming a breakout structure. There is a contracting triangle pattern forming on the daily chart (data feed from Bitstamp), which can be seen as a major pattern for the next move in Bitcoin price against the US dollar. If we look at the wave count, then the....
Ethereum price is consolidating inside a contracting triangle. A break either higher or lower may ignite a solid move in the near term. Intraday Support Level can be $6.10. Intraday Resistance Level may be $6.50-60. Ethereum price after gains started a consolidation pattern, and it looks like it may continue to trade in a range for some time moving ahead. There is a contracting triangle pattern is formed on the hourly chart (data feed via Kraken), as highlighted in yesterday’s post. It may act as a catalyst for the next move if all goes well within the upcoming days. If we go by the number....
Key Highlights. The Dogecoin price-after failing to break the 35-36 satoshi resistance area-started to consolidate in a range. There is a contracting triangle pattern forming on the hourly chart (price feed from HitBTC) that may act as a catalyst for the next move. As mentioned earlier, the price remains at a risk of more losses as long as it is below the stated resistance area. Dogecoin price started to consolidate intraday, and is currently looking for a reason to move higher. Let's analyze whether buyers can step in or not. Contracting Triangle Formation. We recently highlighted in a....