Bitcoin Price Technical Analysis for 07/04/2016 – Slow Climb From Here?
Bitcoin price could be due for a test of the ascending channel resistance visible on its 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price recently sold off but found support around the $650 area as predicted in an earlier article. This was in line with the 200 SMA, which held as a dynamic support level. Bullish pressure seems to be building up again as an ascending channel is forming. Technical Indicators Signals. Bitcoin price made a quick spike on its test of the channel support, indicating that buyers are putting up a fight and ready to push price back up to the top of the....
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Bitcoin price is still keeping up its uptrend but bulls seem to be having a difficult time pushing for more gains. Bitcoin Price Key Highlights. Bitcoin price is still crawling inside its ascending channel pattern visible on the 1-hour time frame. Price seemed to make a downside break from support but the dynamic inflection points held as a floor and kept it on an uptrend. Technical indicators seem to be hinting that the climb could carry on, albeit at a slow pace. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside.....
Bitcoin price followed through with its consolidation breakout and sustained its climb. Bitcoin Price Key Highlights. Following the recent upside breakout from the symmetrical triangle pattern, bitcoin price continued to climb as predicted in the earlier post. Price has now made its way to the triangle highs around $780 and is showing increased buying pressure to form new highs. Technical indicators are giving mixed signals at the moment, but it looks like the odds are in favor of more bullish action. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least....
Bitcoin price is testing a long-term support area, with technical indicators hinting at a continuation of the climb. Bitcoin Price Key Highlights. Bitcoin price is in the middle of a sharp selloff but it seems to have found support at the rising trend line as predicted in the previous post. Price spiked off the $500 level, as plenty of buy orders were likely waiting in that area of interest, which held as resistance in the past. Technical indicators seem to be suggesting that the longer-term climb could resume from here. Technical Indicators Signals. The 100 SMA is above the longer-term....
Bitcoin price has given way to dollar strength after the FOMC statement but could be ready to resume its climb. Bitcoin Price Key Highlights. Bitcoin price seems to be forming a new short-term rising channel visible on the 1-hour chart. Price was weighed down by dollar strength after the FOMC sounded more hawkish than expected in its latest statement. Bitcoin price still looks intent to carry on with its climb as technical indicators hint that a bounce is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. In....
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....