Bitcoin Price Technical Analysis for 03/04/2016 – Quick Pullback?
Bitcoin price might be in for a quick pullback to the broken triangle support before carrying on with its drop. Bitcoin price has formed a small double bottom pattern, indicating that a quick rally could take place. This could stall around the broken triangle support near the $430 level and the 61.8% Fibonacci retracement level. A shallow pullback could last until the 50% level or the $428 mark, which is also near the dynamic resistance at the moving averages. For now, the 100 SMA is above the 200 SMA but a downward crossover could confirm that the selloff is about to resume. An even....
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Bitcoin price just recently came off a quick drop and may be ready to resume its slide after this pullback. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs recently, suggesting that a short-term drop may be in the cards. Price is making a quick pullback from its recent drop, possibly to make a retest of the broken support at the 100 SMA. Price is still hovering around an area of interest at this point so it could be anyone’s game. Technical Indicators Signals. The 100 SMA is still below the 200 SMA so the path of least resistance is to the downside. However, the gap....
Bitcoin price has shown strong bullish momentum with its triangle breakout but buyers might be waiting to enter at better levels on a pullback. The 38.2% Fibonacci retracement level appears to have held as near-term support with that quick bounce, but a larger correction to the lower Fib levels is still a possibility. The 50% level is around $390, which is also a psychological support area while the 61.8% Fib is close to the dynamic inflection points at the moving averages. An even larger pullback could last until the broken triangle resistance near $370 and just slightly below the 100....
Bitcoin price could be due for more declines after making a downside break of consolidation and forming a reversal pattern. Technical indicators are suggesting a potential bounce for now, with the 100 SMA above the 200 SMA and oscillators moving out of the oversold levels. Both RSI and stochastic are also showing slight bullish divergences, hinting that buyers could come back in the game and trigger a pullback or rally for bitcoin price. A pullback could lead to a test of the broken triangle support near $430 and the moving averages, which might hold as dynamic inflection points. A larger....
Bitcoin price has shown strong upside momentum over the past few weeks and might be eyeing a test of these next ceilings. Bitcoin Price Key Highlights. Bitcoin price made another break higher over the weekend, indicating strong bullish momentum. Price is now testing another long-term area of interest around $700, at which either profit-taking or another upside breakout might be seen. Technical indicators are hinting that the rallies could pause but it would be helpful to look at the next potential resistance levels. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now so....
Bitcoin price could be in for a drop from the channel resistance, offering another chance to buy on the dips to support. Bitcoin Price Key Highlights. Bitcoin price is still trading inside its short-term ascending channel and is currently testing the resistance. Reversal candlesticks have formed at this level so it’s likely that bulls could book profits and trigger another dip to the channel support. Technical indicators are showing that the uptrend could continue but that a pullback is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least....