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....
The Dogecoin price has just completed a key technical breakout against Bitcoin (BTC), potentially signaling the start of a significant rally. According to the analyst who identified the Falling Wedge breakout, Dogecoin may also outperform Bitcoin in this market cycle. Dogecoin Price Eyes Pump After Falling Wedge Breakout On April 27, Trader Tardigrade, an X […]
Bitcoin’s price correction over the past week has caused mixed emotions among investors, with some indicators pointing to possible further declines. However, according to one analyst, the current phase could represent the last opportunity to buy before the next major rally. Popular crypto analyst Captain Faibik, posting on social media platform X, believes that Bitcoin is ready for a bullish breakout as it continues to consolidate within a technical pattern that typically precedes upward movement. Falling Wedge Pattern Hints At Incoming Bullish Breakout Technical analysis of the Bitcoin....
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....