Bitcoin Price Technical Analysis for 15/12/2015 - Approaching Long-Term Hurdle
Bitcoin Price Key Highlights. Bitcoin's price has been trending higher on the short-term time frames, but it looks like the cryptocurrency is hitting a ceiling at an area of interest. The price is nearing a support turned resistance level, where several take-profit levels are probably located. Bitcoin's price could turn upon hitting the $500 level, as this lines up with the yearly highs and a long-term area of interest. Pause in Bull Run? As seen on the daily time frame of Bitcoin prices, the pair is stalling around the $450 level but might still have enough energy for a spike higher to....
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Bitcoin Price Key Highlights. Bitcoin price has been under a lot of bearish pressure recently but could be due for a bounce as it nears a long-term area of interest. On the daily time frame, it can be seen that price is moving above an ascending trend line that has been holding since November 2015. Price is still within the Fibonacci retracement levels so a continuation of the uptrend is a possibility. Bitcoin price sold off sharply in the past week but is currently testing a key support zone around several major inflection points. Technical Indicators Signals. The 100 SMA is safely above....
Bulls have faltered in their upward march and given to the bears an opportunity to gain control. As a result, technically important support levels have been breached which could lead to more losses in the value of Litecoin. In my previous analysis, From Resistance to Support!, I did mention that all the long positions must be built with strict stop-losses. Since the supports have been breached, a lot of long positions may have been squared. Litecoin is down 1.66% to $1.771 since yesterday. Technical analysis of the 240-minute LTC/USD price chart reveals that market participants should look....
Litecoin price after trading back lower found support near $3.35-40, and currently correcting higher. However, the price is heading towards a monster confluence resistance area. The 100 hourly simple moving average, a bearish trend line (data feed from Bitfinex) and the 50% Fib retracement level of the last drop from the $3.68 high to $3.37 low are positioned around $3.55. So, we can say that there is a crucial hurdle building near $3.55-60 where sellers are likely to appear. The 100 MA is perfectly aligned to stall gains in the short term and prevent buyers from taking the price higher.....
Continuing with its upward price action, Bitcoin has hit the near-term ceiling and now awaits a positive trigger to breach through. Bitcoin has advanced from yesterday's $234.39 to the current $236.10. As the cryptocurrency hits a roadblock, it is only helpful to know a proper course of action in the highly volatile Bitcoin market. Technical analysis of the 240-minute BTC/USD price chart indicates that booking out of long positions would be the wise thing to do. Bitcoin Chart Structure - The chart structure above reveals that Bitcoin is kissing the resistance zone, and a breakout on the....
It has been several days since we looked at Bitcoin. I expected it would be range-bound for several days, and so it has. But it seems that the Bitcoin arena might get exciting again soon. Both the long-term and the shorter-term setup I have been watching on the daily chart are both approaching their respective resistance arcs. And we are now very close to an energy point in time, so let’s take a look, first at the short-term daily chart: I have highlighted with blue arrows points at which the setup was able to forecast trading opportunities. Of course, it bears repeating that technical....