Bitcoin Price Technical Analysis for 06/13/2016 – How High Can It Go?
Bitcoin price has shown strong upside momentum over the past few weeks and might be eyeing a test of these next ceilings. Bitcoin Price Key Highlights. Bitcoin price made another break higher over the weekend, indicating strong bullish momentum. Price is now testing another long-term area of interest around $700, at which either profit-taking or another upside breakout might be seen. Technical indicators are hinting that the rallies could pause but it would be helpful to look at the next potential resistance levels. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now so....
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Bitcoin remains at the same price level from last week, reinforcing the $600 support area for the entire new cycle. Meanwhile, technical analysis indicates that bullish consensus is getting stronger, increasing the likelihood of a rally from $650 to $820. 5th Elliott Wave forecasting, based on Fibonacci numbers, could be calculated to the technical objective around the $820 area, where several theories point to the delayed next stage. From there, a technical correction should send prices back to $700, giving stragglers a second chance to recalculate their strategies to join. After another....
The 1-day Bitcoin price chart is looking more bullish every week, yet there are some immediate technical influences at smaller timeframes that are affecting price. Technical analysis looks at a bearish influence in the 4-hour chart that is presently pushing price down. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 05h38 UTC. Bitstamp 4-Hour Chart. From the analysis pages of xbt.social, earlier today: Price Action. The lower high in....
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
Bitcoin price seems poised for more declines, putting it on track towards testing a major support zone visible on the longer-term time frames. However, technical signals are looking mixed for now. At the moment, risk appetite appears to be waning once more, as the IMF recently decided to lower their global growth forecasts for 2016 and 2017. The institution highlighted the risks stemming from the slowdown in China and the slump in commodity prices, particularly to emerging economies. With that, the safe-haven US dollar is reigning supreme against most of its counterparts, particularly the....
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....