Bitcoin Price Technical Analysis for 04/21/2016 – Long-Term Triangle Breakout?
Bitcoin price made an upside breakout from its long-term consolidation pattern, signaling that it's ready to go for more gains. The 100 SMA is above the 200 SMA, confirming that the path of least resistance is to the upside and that further gains are in the cards. However, the gap between the two moving averages is narrowing so a downward crossover might eventually take place. Stochastic is already indicating overbought conditions so buying pressure could weaken soon. RSI is also moving close to the overbought region, which means that buyers might need to take a break and let sellers take....
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Bitcoin price could be due for a strong break out of its consolidation pattern, but traders still seem to be undecided which way to push. Bitcoin Price Technical Analysis. Bitcoin price is still stuck in its consolidation pattern visible on the 4-hour time frame. Price is already at the peak of the symmetrical triangle formation, which means that a breakout could take place anytime now. Technical indicators and market sentiment appear to be hinting at a downside break. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. A....
Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....
Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle on its 4-hour time frame. Price is currently testing the triangle resistance and waiting for more bullish momentum to trigger an upside break. Technical indicators are giving mixed signals at the moment but a breakout could provide longer-term direction for bitcoin trading. Technical Indicators Signals. The 100 SMA is above the....
Bitcoin price just bounced off the bottom of its long-term symmetrical triangle on the daily time frame and might be due for a test of resistance. Any strong breakout in either direction for bitcoin price could set the tone for its longer-term trends for the rest of the year so keep close tabs on this triangle formation. Bitcoin price has been tossing and turning on the short-term time frames, as risk sentiment keeps shifting. On the longer-term chart such as the daily time frame, a consolidation pattern can be seen. Bitcoin price formed higher lows and lower highs since November last....
Bitcoin Price Key Highlights. Bitcoin price has surged up to the $300 mark once more, testing the long-term ascending triangle resistance visible on the daily time frame. An upside breakout could put bitcoin price on track towards reaching new highs while a return in selling pressure could lead to a test of the triangle support. Bitcoin price is enjoying strong bullish momentum at the moment, with the latest rally taking it up to the top of the ascending triangle around $300. Bounce or Break? Technical indicators are showing that the rally might already be overdone, as stochastic and RSI....