Bitcoin Price Technical Analysis for 06/30/2016 – End-of-the-Quarter Profit-Taking?
Bitcoin price could be in for another round of volatile action at the end of this month and quarter. Bitcoin Price Key Highlights. Bitcoin price has consolidated after its strong rally and correction in the past month. But with the end of the month AND quarter upon us, there’s a strong chance that traders would book profits off their recent positions. At the moment, bitcoin price appears to be showing a bearish flag pattern, which is typically considered a selloff continuation signal. Technical Indicators Signals. On the daily time frame, it can be seen that bitcoin price is still in the....
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Bitcoin price is retreating upon reaching its yearly highs but bulls could be ready for another push higher after this pullback. Bitcoin Price Key Highlights. Bitcoin price reached the yearly highs around $780 and profit-taking happened as predicted in the previous article. Price is now making a pullback from its recent rally and could encounter more bulls who are waiting at the next area of interest. Technical indicators are confirming that the uptrend could resume once the correction is completed. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to....
Bitcoin price seems unstoppable in its climb as it is gunning for the $1000 level, which could be a profit-taking point. Bitcoin Price Key Highlights. Bitcoin price continued its ascent yesterday, taking out the $950 psychological barrier and setting its sights on $1000 next. A rising trend line can be drawn to connect the recent lows of price action, illustrating potential support levels in the event of a pullback. Profit-taking could ensue at the $1000 level since this represents a major psychological number. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 1-hour....
Bitcoin price looks poised for more gains but upcoming market events could spur profit-taking ahead of the weekend. Bitcoin Price Key Highlights. Bitcoin price continues to push higher after signaling strong upside momentum. Price is testing the key resistance area around $1000 but has formed a bullish continuation pattern. Technical indicators are showing mixed signals but market catalysts suggest that profit-taking is possible. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the short-term time frames so the path of least resistance is to the upside. On the....
Bitcoin price has started a steady uptrend and might carry on, based on the new signals from technical indicators. The 100 SMA just crossed above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. However, the channel resistance appears to be holding so a pullback to these dynamic support areas near the bottom of the channel might take place. RSI is on its way down, indicating that bitcoin price bears are in control of price action for now. In that case, a quick drop to the channel bottom is indeed possible, as stochastic is also heading down from the....
Bitcoin price could pull back as low as the broken triangle resistance before resuming its climb, as technical indicators are hinting at a quick selloff. Bitcoin Price Key Highlights. Bitcoin price appears to be taking a break from its sharp climb, offering buyers an opportunity to catch the uptrend on a pullback. Bitcoin recently broke out of a symmetrical triangle formation and has surged past the previous year highs at $500. Price peaked at $600 before showing signs of a correction. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now, confirming that the longer-term....