Bitcoin Price Technical Analysis for 04/12/2016 – Finally Some Volatility!
Bitcoin price is gaining more traction on its climb, putting it back on track towards testing the channel resistance. As mentioned in the previous update, the moving averages added strength to the support at the bottom of the channel near $415. In addition, the 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside and the uptrend is likely to carry on. Right now, bitcoin price is encountering a bit of resistance at the mid-channel area of interest at $425. A break past this level could allow it to set its sights on the range resistance but if the....
Related News
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....
Bitcoin price could be on track to test its previous year highs at $500 now that an upside break from the triangle consolidation pattern took place. So far, technical indicators don’t seem to have caught up with the sudden upside break yet, although the moving averages are edging closer to make a potential upward crossover. For now, the 100 SMA is still below the 200 SMA and is close to the triangle support at $360. Meanwhile, stochastic is indicating overbought conditions at the 80.0 level and is starting to turn lower, suggesting that selling pressure might pick up. Similarly, RSI is....
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 finally broke out of its symmetrical triangle formation and is establishing a northbound route. Bitcoin Price Key Highlights. Bitcoin price broke out of its consolidation pattern to the upside and signaled the return of buying pressure. This could take price up to the triangle highs at $780 or onto the $800 major psychological level. Technical indicators are suggesting that the gains could carry on. Technical Indicators Signals. The moving averages are still tight as the 100 SMA has yet to incorporate the recent upside breakout. These SMAs are close to the triangle resistance....