Bitcoin Price Technical Analysis for 06/15/2016 – Another Weekend Breakout?
Bitcoin price could keep up its pattern of weekend breakouts unless the FOMC statement results to a strong surge in dollar demand. Bitcoin Price Key Highlights. Bitcoin price is stuck in consolidation once more, following a strong upside breakout last week. Looking back at the previous breakouts shows that it occurs towards the end of the week and sustains its momentum until Monday. Upcoming event risks could keep this schedule in play, although the upcoming FOMC statement could make the situation more complex. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of....
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Litecoin is trading on a bearish note as it loses 1.07 percent since yesterday to trade at $2.947. But, let us quickly visit the latest price action, the technical indications and finally, reach a conclusion which may help traders during weekend trading. Litecoin Chart Structure - Upon taking a closer look at the daily LTC-USD price chart, one can find that for the past 3 sessions, Litecoin has been trading in a contracting range where the upsides have been shrinking while the base remains the same. The range has narrowed considerably and a breakout is well on its way. There are better....
Bitcoin price could be due for a strong break out of its consolidation pattern, but traders still seem to be undecided which way to push. Bitcoin Price Technical Analysis. Bitcoin price is still stuck in its consolidation pattern visible on the 4-hour time frame. Price is already at the peak of the symmetrical triangle formation, which means that a breakout could take place anytime now. Technical indicators and market sentiment appear to be hinting at a downside break. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. A....
Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....