Bitcoin Price Technical Analysis for 04/01/2016 - Go with the Flow?
Bitcoin price has been slowly trending higher since the last week of December 2015 and might be poised for more gains. Price is currently moving inside a short-term ascending channel visible on the 1-hour time frame. Bitcoin price could carry on with its uptrend, although technical indicators are giving mixed signals. Bounce or Break? First, the bullish signals. Bitcoin price has just bounced off the ascending channel support around $425, hinting that the uptrend is likely to carry on. In addition, the 100 SMA is above the longer-term 200 SMA, which means that the path of least resistance....
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Flow is trading almost 30% higher on Saturday, as the majority of the crypto top 100 are in the green. Today’s move sees flow also enter the top 50 cryptocurrencies by market cap. Biggest Gainers Following a bearish end to the working week, cryptocurrency markets are green across the board to start the weekend. Notable gainers included solana, which is up over 10%, whilst SAND is also trading higher, and is up almost 15% as of writing. However, the clear bull of the day is FLOW, which as of writing is up around 23%, hitting an intraday high of $6.62 in the process. The move began....
Following a 12% decline yesterday, shiba inu (SHIB) rose by that same percentage today, as bulls once again boarded the rocket ship. This comes as prices of FLOW were also higher during the session.
Biggest gainers
Price movement in SHIB continues to be volatile, with the meme coin rising by as much as 60% in the last week.
However, it was FLOW that secured the title bull of the day, as it rose by as much as 20% in today’s session.
FLOW/USD, which was trading at a low of $7.01 on Tuesday, climbed to an intraday high of $8.52 earlier today.
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Bitcoin remains at the same price level from last week, reinforcing the $600 support area for the entire new cycle. Meanwhile, technical analysis indicates that bullish consensus is getting stronger, increasing the likelihood of a rally from $650 to $820. 5th Elliott Wave forecasting, based on Fibonacci numbers, could be calculated to the technical objective around the $820 area, where several theories point to the delayed next stage. From there, a technical correction should send prices back to $700, giving stragglers a second chance to recalculate their strategies to join. After another....
Trading with a slightly negative bias, Bitcoin has slipped to $244.28, down 0.94 percent yesterday. Even though the uptrend is intact, Bitcoin has failed to sustain above a key technical level which has led to severe deteriorations in the technical indicators. Let us discuss each of the factors in the technical analysis of the daily BTC-USD price chart below. Bitcoin Chart Structure - As has been marked in the chart above, the upward channel in which Bitcoin has been trading since the last week of September clearly holds. However, as discussed earlier, Bitcoin has failed to sustain above....
Bitcoin has jumped more than 4% to $456.75 as bulls take advantage of the positive technical undertone. With this, the cyptocurrency has also met our prescribed target of $458. So, should you be booking profits now? Let us find that out with the help of technical analysis conducted on a 4-h BTC-USD price chart taken from BITSTAMP. Chart Structure – Bitcoin is now threatening to take out the Triple Top resistance near $465. The resurgent bulls look in complete control of the situation. Bollinger Bands – The cryptocurrency is sustaining above the upper range of the BB, after taking support....