Bitcoin Price Technical Analysis for 03/01/2016 – Quick Bounce, More Gains?
Bitcoin price bounced off the channel support as expected and might have its sights set on the top. Technical indicators are still reflecting indecision, as traders are holding out for this week's set of top-tier catalysts. The 100 SMA just crossed above the 200 SMA, confirming that the uptrend is likely to carry on. In addition, these moving averages held as near-term support levels since they line up with the channel support around $430. That long-wicked candle suggests that buyers are refusing to let bitcoin price drop too much, as long orders were probably located right around the....
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Bitcoin price could be due for a bounce off this support zone and technical indicators appear to be in agreement. Bitcoin Price Key Highlights. Bitcoin price underwent additional volatility and sold off yesterday but it appears to be testing another support area. Price is forming an ascending channel pattern on its 1-hour time frame and might be due for a bounce towards the resistance. Technical indicators are also suggesting that buyers could regain control. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to confirm that the uptrend could carry on. In....
Bitcoin price could be in for more gains from here as buyers popped up when it tested the rising channel support. Bitcoin Price Key Highlights. Bitcoin price made a sharp breakdown from its short-term consolidation last Friday. Price seemed poised for more losses until it hit the bottom of the rising channel on the 4-hour time frame and made a quick bounce. Bitcoin could resume its climb from here, provided the channel support continues to keep losses in check. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on the 4-hour chart, indicating that the path of....
Bitcoin price could be due for a test of the channel support once more, with technical indicators confirming a potential bounce. Bitcoin Price Key Highlights. Bitcoin price is still inside its ascending channel pattern after getting rejected on its attempt to break past the resistance. Price could be headed for the channel support for another bounce higher. Technical indicators suggest that the uptrend could carry on. Technical Indicators Signals. The 100 SMA lines up with the channel support around $665, adding to its strength as a potential floor. In addition, the 100 SMA is safely above....
Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Bitcoin Price Technical Analysis. Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former resistance around $715, adding....