Bitcoin Price Technical Analysis for 04/01/2016 – Short-Term Area of Interest
Bitcoin price is having trouble making headway past the 50% Fibonacci retracement level, which lines up with several inflection points. The 100 SMA is above the 200 SMA for now but a downward crossover looks ready to take place, signaling a potential turn lower. In addition, stochastic is heading south so bitcoin price might follow suit. If so, price could head back to the previous lows around $407-410. RSI is treading sideways, suggesting that the consolidation could carry on. Bitcoin price appears to have encountered a weak support zone at $412, which might continue to keep further....
Related News
Bitcoin price appears to be correcting from its recent selloff but technical indicators are signaling that a longer-term bounce might be in order. Bitcoin Price Key Highlights. Bitcoin price is pulling up from its recent slide but could be in for more gains if sellers hop in the short-term area of interest. Support at $555 was previously broken and might hold as resistance moving forward. Technical indicators, however, are suggesting that the climb could continue. Technical Indicators Signals. The 100 SMA is safely above the 200 SMA so the path of least resistance is still to the upside.....
Bitcoin price is having trouble breaking past this area of interest visible on the daily time frame as technical indicators are giving mixed signals. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation on its short-term time frames and looking at the daily chart shows why. Price is actually stalling below a former support zone around the $600-620 area, which might continue to hold as resistance. Price is also encountering a bit of a ceiling around its 100 SMA on the longer-term chart. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this....
Bitcoin price is stalling at a strong area of interest visible on the long-term charts, with indicators suggesting that the resistance could hold. Bitcoin Price Key Highlights. Bitcoin price is consolidating on its short-term time frames and for good reason. Price is actually testing a major area of interest at $645-650, as this held as support in the past and could keep holding as a ceiling. Technical indicators on the longer-term charts are giving mixed signals at the moment. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the daily time frame, showing that....
Bitcoin price is retreating from its climb but this might offer bulls an opportunity to restart the rally at better prices. Bitcoin Price Key Highlights. Bitcoin price broke down from the earlier short-term consolidation as predicted in an earlier article. Price is now approaching a longer-term area of interest and potential support visible on the 4-hour chart. There’s a confluence of inflection points all around the $620 level, which might keep losses in check. Technical Indicators Signals. Bitcoin price is trading above a rising trend line visible on its 4-hour time frame, and this....
Bitcoin price enjoyed a strong rally recently but could be ready to resume its slide soon if this area of interest holds. Bitcoin Price Key Highlights. Bitcoin price broke above the neckline of the short-term double bottom formation illustrated in the previous article. Price has climbed to the $580 area since and is testing the support turned resistance level. Additional resistance is located around technical inflection points so a return in bearish pressure could be due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, confirming that the path of least....