Bitcoin Price Technical Analysis for 05/03/2016 – How Low Can Bears Go?
Bitcoin price is headed for downside after its recent triangle breakdown, with bears eyeing support at the rising trend line. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside. However, bitcoin price has broken below the short-term moving average, hinting that a reversal may be in order. The 200 SMA is in line with the rising trend line connecting the lows, adding to its strength as a potential support zone. Stochastic is on the move down so bitcoin price could follow suit. The oscillator is nearing the oversold area so bears might need to....
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Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Bitcoin Price Technical Analysis. Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former resistance around $715, adding....
Bitcoin price might be able to break below the channel support if dollar demand picks up in the latter sessions. Bitcoin Price Key Highlights. Bitcoin price is still stuck inside the ascending channel pattern on the 4-hour time frame and still hovering around support. Price has been consolidating above the $450 level for quite some time, as bears are trying to find more energy for a downside break. The FOMC minutes failed to spur dollar demand strong enough for a downside break, leaving bitcoin traders waiting for the next big catalyst. Technical Indicators Signals. The 100 SMA is still....
Weekend Bitcoin trading pulled price below $200 for a few hours today. The bears seemed to find renewed energy for a claw down only to run out of steam near $190. CCN presents summary analysis that finds technical clues of an advance to $260. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 13h30 UTC. Bitfinex 1-Hour Chart. There is little change in the chart and analysis since yesterday's chart that showed a Fib fan that has provided support to the recent decline. The fan is omitted in favor of....
Litecoin has gone berserk after breaking out of the trading channel post a brief period of sideways consolidation. The price has jumped an earth shattering 59% since yesterday to hit a fresh 2015-high of $3.194. As the cryptocurrency loses some steam, the price has come down to $2.850. Litecoin's latest price action would have killed the bears, or at least made them broke. But now, even with the unprecedented rise in bullish strength, it isn't worth to buy Litecoin when it has attained stratospheric valuation. Technical analysis of the 240-minute LTC-USD price chart conveys that the....