Bitcoin Price Technical Analysis for 06/28/2016 – Ascending Triangle Formation
Bitcoin price is consolidating in an ascending triangle pattern while market participants wait for more catalysts. Bitcoin Price Key Highlights. Bitcoin price is back in consolidation after making strong moves in the past few weeks. Price has formed higher lows and found resistance around $680, creating an ascending triangle pattern. Bitcoin has just bounced off the triangle support and appears ready for another test of resistance. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. However, the gap between the two moving....
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Bitcoin price is still inside its long-term triangle consolidation pattern and might make another test of the resistance. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $470 level, creating an ascending triangle pattern on its daily chart. Price just bounced off the triangle support and is due for a test of resistance once more. Technical indicators are signaling that further gains are possible. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is still to the upside. A sharp move lower could find....
Bitcoin price is trading inside a symmetrical triangle consolidation pattern and might be ready for a breakout. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $616 level, creating an ascending triangle pattern on the 1-hour time frame. Price is currently testing the resistance and could be due for a breakout sooner or later. Technical indicators are giving mixed signals on where bitcoin price could go next. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside. The chart pattern is....
The Bitcoin price has shown good signs of recovery over the past seven days, returning above $58,000 to end the week. Interestingly, a prominent crypto analyst on X has identified a chart formation signaling a potential continuation of this resurgence by the premier cryptocurrency. Bitcoin Price Prints This Chart Pattern — What Next? In a new post on the X platform, popular crypto analyst Ali Martinez shared an exciting analysis for the Bitcoin price over the next few days. According to the crypto pundit, the flagship cryptocurrency seems to be at a critical point for a bullish breakout....
Bitcoin price is still staying inside the consolidation pattern for now but could be ready to break out as it approaches the peak of the formation. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle formation as illustrated in an earlier article. Price just bounced off the triangle support after a number of tests and is now making its way to the top. Technical indicators seem to be suggesting that a downside breakout is due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, which means that the path of....
Bitcoin price broke below its triangle support to indicate that the selloff isn’t over yet. Bitcoin Price Key Highlights. Bitcoin price was trading inside an ascending triangle pattern as illustrated in a previous article. Price broke below support, indicating a pickup in bearish momentum and a likely drop to the triangle lows around $580. Technical indicators are also suggesting that further declines are possible. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is still to the downside. In addition, these moving averages held as dynamic....