Litecoin Price Technical Analysis For 16/12/2015 - Bullish Flag Pattern
Key Highlights. Litecoin's price continued to move higher intraday, and our buying idea yesterday was successful. Now, a bullish flag pattern is forming on the hourly chart (data feed from HitBTC), which may ignite another upside rally. A break above the flag resistance area could take the price higher towards $4.00-05 in the near term. Litecoin's price is trading with a bullish bias, and there is another pattern forming which may help buyers to take it even higher. Break Higher? Litecoin price followed a nice uptrend on the 1-hour chart, and it looks like there is more upside left moving....
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A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Litecoin price may trade higher in the near term. However, it won’t be a wise call to buy Litecoins as the trend still remains down. Intraday Support Level (HitBTC) may be at $3.00. Intraday Resistance Level can be around $3.10. Litecoin price was under a lot of bearish pressure recently, as it traded down and even spiked below the $3.0 handle. The price started a minor recovery yesterday, and there was a flag pattern formed on the 2-hours chart with the data feed from HitBTC, as highlighted in yesterday’s post. The best part is that the price managed to spike above the highlighted flag....
Potcoin Price Key Highlights. Potcoin price continued to trade inside a flag pattern as highlighted in one of the recent technical analysis. Both buyers and sellers seem to be struggling to take the price in one particular direction, which created a range inside the flag pattern. A few technical indicators are pointing towards more losses and a break below the flag pattern. Potcoin price is trading inside a range and it looks like heading towards a break, waiting for a catalyst. Break Down? As mentioned in the previous analysis, there was a sharp decline noted in the Potcoin price which....
e bullsBitcoin Price Key Highlights. Following an upside break from its triangle consolidation pattern last week, bitcoin price made a sustained climb to an area of interest. A bullish flag pattern formed right on the support-turned-resistance area and now bitcoin price has broken through that ceiling again. Bitcoin price could be eyeing more gains from here, as the upside flag breakout reflected stronger bullish momentum. Where to Next? Bitcoin price might have its sights set on this month's highs near the $500 mark, as the average directional index is showing trending market conditions.....
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....