Bitcoin Price Technical Analysis for 04/05/2016 – Low Volatility So Far…
Bitcoin price is undergoing low trading volatility conditions, as investors are holding out for top-tier market catalysts this week. The moving averages are oscillating so the consolidation could carry on for the time being. A break past the $420 level could generate enough bullish momentum for a test of the channel resistance at $430. On the other hand, if the $420 area keeps gains in check, another test of support around $410-415 could take place. RSI is treading sideways, also suggesting that consolidation could stay in play. Stochastic is on the move up, which means that buyers are in....
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Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
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....
The Bollinger Band shows the Bitcoin price might see a spike in volatility, similar to 2016’s post-having cycle. For the first time since 2016, the Bollinger Band width of Bitcoin (BTC) dropped below 0.95. The Bollinger Band is a widely utilized technical indicator that evaluates the volatility trend of an asset. It might signify that a huge volatility spike is imminent.The price of Bitcoin has been relatively stable from 2019 to 2020. BTC mostly ranged in between $6,000 and $12,000, apart from March when it plummeted below $3,600.The monthly Bitcoin price chart with Bollinger Band.....
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 has taken a pause from its recent sharp drop, as sellers are waiting for more downside pressure. Potential catalysts for bitcoin price volatility this week include the release of US retail sales, PPI, and consumer sentiment data on Friday. Most of the technical indicators on the 1-hour chart of bitcoin price seem to suggest that more losses are possible. The short-term 100 SMA has just crossed below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. If a pullback occurs, the moving averages might be able to hold as dynamic resistance....