Bitcoin Price Technical Analysis for 11/12/2015 - Bullish Continuation Signal?
Bitcoin Price Key Highlights. Bitcoin's price is stuck in a consolidation pattern once more, as bulls are taking a break from their recent strong rally. This type of consolidation pattern has already been seen in the past, with Bitcoin's price making an upside breakout from the bullish continuation signal. The Bitcoin price has formed a bullish flag pattern on its 1-hour time frame, which suggests that more buyers could join the game once an upside breakout occurs. How High Can It Go? The mast of the bullish flag continuation pattern is approximately $30 in height, spanning from $395 to....
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Bitcoin price continued to rise yesterday scoring a high of $244. The pattern of the new bullish wave has been established as we explained during our yesterday's "intraday tips" article. By analyzing the 1 day Bitfinex (BTC/USD) charts and plotting the RSI and the 20 day EMA accordingly (look at the below chart), we can conclude the following: The current bullish trend can be viewed as a continuation of the bullish wave that started on the 15th of January, if we consider that the first bullish rally had been halted by a price correction wave that triggered sideways movements for a few....
Bitcoin price is advancing according to our earlier analysis. The uptrend line that we spotted earlier today is continuing to tarmac the way to an even stronger bullish wave. As shown on the 1 hour Bitfinex (BTC/USD) chart from tradingview.com (look at the below chart), we can notice the shape of the bullish wave that has been ignited on the 16th of January. We can see a repetitive pattern characterized by a bullish rally that is followed by a 50-70% downwards correction force. The price seems to be heading up to the $256 resistance especially that the price is now above the 20 hour moving....
Darkcoin price finally made an upside break from its descending triangle consolidation pattern, indicating a pickup in bullish momentum. This suggests that the cryptocurrency price could continue gaining against bitcoin in the long run. On the daily chart of DRK/BTC from Cryptsy, darkcoin price surged past the triangle resistance around 0.0120 and zoomed past the previous highs around 0.0161. Volume picked up as cryptocurrency traders jumped in the latest rally to take advantage of the bullish continuation signal. Price is retreating close to the previous highs, which might act as support....
Bitcoin price increased today, just as our analysis from yesterday predicted, reaching a high of $242.54; so, we are expecting a continuation of this bullish wave to take the price up to $300 during the next few days. By looking at the 1 day Bitfinex (BTC/USD) charts from tradingview.com and drawing a trend line between the high reached on the 13th of November, 2014 ($472.49) and the low reached on the 14th of January, 2015 ($167.05) and plotting the Fibonacci retracement fan accordingly, we can notice how today's trading pulled the price up to $242.54. The new bullish wave will likely....
Bitcoin price continues to struggle to regain any type of bullish momentum, and keeps grinding at repeatedly tested support. In the past, when this happens, the support ultimately breaks down and a cascade of liquidations begin. However, there’s a bullish signal brewing that is thus far the best hope for further continuation to the upside. […]