Bitcoin Price Technical Analysis for 05/13/2016 – Bulls Putting Up a Fight!

Bitcoin price is still pushing higher, but these gains could hinge on this week’s top-tier market catalysts. Bitcoin Price Key Highlights. Bitcoin price recently made an upside breakout from a short-term consolidation pattern, signaling that bulls are putting up a fight. Price is back in consolidation for now, possibly waiting for more catalysts to fuel it higher. Technical indicators are suggesting that further gains are in the cards. Market Events. The 100 SMA seems to be attempting an upward crossover from the longer-term 200 SMA, signaling that the path of least resistance is to the....

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....

Bitcoin price appears to be trading inside a rising wedge pattern on the 4-hour chart and is currently testing the bottom. Bitcoin Price Key Highlights. Bitcoin price hasn’t made much headway north after pulling back to a nearby support zone. Price seems to be moving inside a rising wedge pattern, as buyers are trying to push higher while sellers are also putting up a strong fight. Technical indicators are hinting that further gains are in the cards for bitcoin price. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....

Bitcoin price continues to tread slightly higher as bulls refuse to let up, keeping the cryptocurrency in its short-term uptrend. Bitcoin Price Key Highlights. Bitcoin price is still stuck inside the small ascending channel highlighted in a previous article. Price bounced off support as expected and made a test of the resistance, putting it back on track towards testing the bottom once more. Technical indicators are giving mixed signals at the moment, although traders might be waiting for more market clues. Technical Indicators Signals. The 100 SMA completed its downward crossover from the....

Bitcoin price could be due for a test of the ascending channel resistance visible on its 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price recently sold off but found support around the $650 area as predicted in an earlier article. This was in line with the 200 SMA, which held as a dynamic support level. Bullish pressure seems to be building up again as an ascending channel is forming. Technical Indicators Signals. Bitcoin price made a quick spike on its test of the channel support, indicating that buyers are putting up a fight and ready to push price back up to the top of the....