Bitcoin Price Technical Analysis for 06/07/2016 – Ready for a Wedge Breakout!
Bitcoin price could be headed for some losses if it does break below the bottom of the rising wedge as the oscillators suggest. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a rising wedge pattern visible on the 1-hour time frame. Buyers and sellers are still tugging in their own directions, with a strong breakout likely to indicate where longer-term price action could go next. Technical indicators are giving mixed signals, with oscillators suggesting that a downside break could occur. Technical Indicators Signals. Stochastic has already reached....
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Bitcoin price is consolidating in a rising wedge pattern and the direction of its breakout could set the tone for long-term movement. Bitcoin Price Key Highlights. Bitcoin price recently broke to the downside of its short-term uptrend, signaling a reversal underway. Price is stuck in consolidation for the time being, as traders have been booking profits from the previous drop and waiting for more cues. A break below the rising wedge pattern could confirm that longer-term losses are in the cards. Technical Indicators Signals. The 100 SMA just recently crossed below the longer-term 200 SMA....
Bitcoin price is slowly treading higher, trying to muster enough energy for a strong break past $800. Bitcoin Price Key Highlights. Bitcoin price broke above its short-term consolidation and is on its way to making a solid move past $800. Price is still moving carefully inside a rising wedge formation visible on its 4-hour chart. If the wedge resistance continues to keep gains in check, bitcoin price might be forced to break below support. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. However, the gap between....
Bitcoin price is trading inside a rising wedge formation, with bulls trying to push for more gains. RSI is on the move up, which means that buyers are in control of bitcoin price action at the moment. However, price is nearing the top of the wedge, which might hold as resistance and lead to a bounce back to the wedge support near $415. Also, RSI is near the overbought zone. Stochastic is in the overbought level already, signaling that buyers might need to take it easy from here and allow sellers to take over. If so, resistance around $418 could hold and lead to a test of support, which is....
Recent analysis reveals that the Shiba Inu price has formed a Falling Wedge pattern and is on the verge of breaking above it. Technical indicators suggest that SHIB could embark on a massive rally once this breakout occurs, as analysis predicts a price surge of over 250% in the coming months. Shiba Inu Price Gears Up For 250% Rally Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, is showing signs of a potential breakout to the upside. A crypto analyst identified as Rose Premium Signals on X (formerly Twitter) highlighted that SHIB is currently....
Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....