Bitcoin Price Technical Analysis for 1/12/2015 - Waiting for a Pullback
Bitcoin Price Key Highlights. Bitcoin price has recently made an upside breakout from consolidation and a rally above an area of interest, but it looks like buyers are losing steam. A pullback to the area of interest might be necessary before the rally regains ground. Bitcoin price could make a correction to the Fibonacci retracement levels marked on the 4-hour time frame before resuming its climb. Resistance Turned Support. The Fib levels based on the latest swing low and high show that the 50% level lines up with the broken resistance at $350. This could hold as support from now on since....
Related News
In the previous Bitcoin price technical analysis Rebounds, we discussed how the cryptocurrency was erasing the losses for the past week. But, the entire positivity was put to rest over the weekend as bears made a comeback and long positions were fast liquidated at the slightest hint of a pullback. Bitcoin, which is now trading at $227.93, has once again come closer to its important buying interest zone of $220-225. As the price decline has pushed the price closer to its crucial support, market participants may also be factoring in a breach of support this time, but I would recommend....
Bitcoin price could make a correction before resuming its climb past the $1000 mark and the short-term time frames illustrate potential pullback areas. Bitcoin Price Key Highlights. Bitcoin price seems to be having trouble breaking past the $1000 mark so a pullback might be in order. On the 1-hour time frame, an ascending channel can be seen and a pullback to support at $940 might be in the works. The channel support lines up with a broken resistance area and another dynamic inflection point. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least....
Bitcoin price is retreating upon reaching its yearly highs but bulls could be ready for another push higher after this pullback. Bitcoin Price Key Highlights. Bitcoin price reached the yearly highs around $780 and profit-taking happened as predicted in the previous article. Price is now making a pullback from its recent rally and could encounter more bulls who are waiting at the next area of interest. Technical indicators are confirming that the uptrend could resume once the correction is completed. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to....
During the April 22nd session, bitcoin uncoiled upwards. The 1H chart shows not only a breakout from volatility, but also above consolidation resistance near 230. As the session wound down, the rally stalled around 239 at which point price stalled and formed a bearish divergence with the RSI. (When price makes a higher high and the RSI a lower high). Bitcoin (BTCUSD) 1H Chart April 23. After finding resistance at 239 along with the bearish divergence, price retreated as the April 23rd global session began. The pullback has been weak so far, holding around 233. The technical conditions in....
Bitcoin price has its sights set much higher and is making another push past the ascending channel resistance for a sharper climb. Bitcoin Price Key Highlights. Bitcoin price is still trading inside the ascending channel illustrated in an earlier article, signaling that bullish momentum is in play. Traders have been waiting for a decent pullback to reestablish long positions but it seems that the correction was pretty shallow. Price found support at $1050 before making another attempt to break past the channel resistance. Technical Indicators Signals. The 100 SMA is still on the 200 SMA on....