Bitcoin Price Technical Analysis for 04/26/2016 – Catching Small Pullbacks
Bitcoin price has been on a steady climb following a strong upside breakout, offering opportunities to join the rally on retracements. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance is to the upside and that the trend is likely to carry on. In addition, the gap between the moving averages is widening, indicating that bulls are gaining traction. The trend line coincides with the 100 SMA, which could add to its strength as a support area. Also, that region lines up with a former resistance turned support zone around....
Related News
Bitcoin price appears to be encountering resistance at the top of the ascending channel visible on the 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price has been trading inside an ascending channel since the start of the month. Price made a strong bounce off the channel support on Friday on heightened risk aversion, triggering a climb to the top. If the channel resistance holds, another test of support could be in the cards. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA, confirming that the path of least resistance is to the upside and that....
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....
Starting from today, I will be posting a daily litecoin price technical analysis, so I guess it's better to establish key resistance and support levels that will be a base for our future analyses during the upcoming couple of weeks. Litecoin price increased to score a high of $2.04 yesterday, before dropping to a low of $1.79. By examining the 1 hour (LTC/USD) and (BTC/USD) charts, we can clearly see that litecoin price is mirroring what is happening on the bitcoin charts. By studying the 1 day Bitfinex (LTC/USD) chart from tradingview.com and plotting the Fibonacci retracement fan along a....
Bitcoin price is moving inside a tiny triangle consolidation pattern but may be due for a breakout sooner or later. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and found support around $607.50, creating a descending triangle visible on its short-term time frames. Price seems to have gotten rejected at the resistance and is on its way towards testing support once more. Technical indicators are suggesting that a bounce off the area of interest could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, which suggests that the path of....
Bitcoin price rose 2 percent to cross the $270-mark. I discussed in my previous Bitcoin price analysis titled Time to buy some that the cryptocurrency could stage a small comeback rally as technical factors played out. Bitcoin price touched an intraday high of $271.50 and is now trading at $270.22. Technical analysis of the daily BTC-USD price chart states that market participants should exit their long trades if the price were to rise further to $275-277. Bitcoin Chart Structure - The support of the descending triangle will now act as the resistance for Bitcoin. The downward sloping....