Bitcoin Price Technical Analysis for 05/09/2016 – Bulls Making a Comeback?
Bitcoin price found support at a broken resistance level but indicators suggest that sellers still have a chance. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside and the rally could carry on up to $470 or higher. In addition, the 200 SMA held as dynamic support in the past so it might continue to keep losses in check from here. However, stochastic is indicating overbought conditions and is turning lower so bitcoin price could follow suit. This could take price down to the near-term support at $450 once more or until $440. Stronger selling....
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Bitcoin price is bracing itself for a strong finish for the year, as it raked in more gains above $900. Bitcoin Price Key Highlights. Bitcoin price carried on with its climb as expected, after breaking past the $800 barrier a few days back. Price topped near $950 before making a pullback on Christmas Day, which then offered bulls a chance to add to their long positions or draw more buyers in. Price could be on its way to breaking past the recent highs from here. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the 4-hour time frame of bitcoin, confirming that....
Bitcoin price is safely inside its ascending channel on the 4-hour time frame and is making a run for the resistance again. Bitcoin Price Key Highlights. Bitcoin price gained further upside traction upon bouncing off the ascending channel support highlighted in earlier articles. Price is now making its way towards the top of the channel near the $780 highs or onto the $800 handle. Technical indicators are confirming that bulls are still in control of bitcoin action. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA still, which means that the path of least....
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