Bitcoin Price Poised for a Breakout, Technical Analysis Shows
A technical analysis chart of bitcoin prices suggests that the digital currency’s value is likely to shoot higher. Technical Analysis Shows A Pennant. The technical analysis chart of Bitstamp’s recent closing prices, originally published on Sober Look, shows that a triangular pattern known to technical analysts as a pennant has formed. Can a Pennant....
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Tired of Bitcoin's consolidation? Well, then there is good news! After spending considerable time in a contracting trading range, Bitcoin may well be on course to register another breakout. There is a significant probability that the breakout may be on the upside and lead to swift gains for the cryptocurrency. Bitcoin is currently trading at $244.42. Technical analysis of the 240-minute BTC-USD price chart conveys that the cryptocurrency is well poised for the next leg of its rally. However, the support of $240 must not be violated. Bitcoin Chart Structure - A quick glance at the....
Bitcoin price is still stuck inside the triangle consolidation pattern but might be gearing up for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and found support around $730, creating a descending triangle pattern. Price just bounced off support and might be ready for a test of resistance at $750-755. Technical indicators seem to be hinting that the resistance would hold, although a breakout is possible with this week’s event risks. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is still to....
Bitcoin price is stuck in consolidation on its short-term time frames but could be poised for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has been treading sideways recently and has formed a symmetrical triangle formation on its 15-minute chart. A breakout could be due sooner or later since price is approaching the triangle’s peak. Technical indicators are giving mixed signals on this time frame but longer-term charts suggest that the uptrend could remain intact. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on this chart so the path of least....
Bitcoin price is due for yet another breakout, and the technical indicators suggest that the path of least resistance is to the downside. The US dollar lost ground to most of its peers, including bitcoin, in recent trading sessions when economic data came in mostly weaker than expected and a Fed official admitted that inflation might stay low for much longer. The core PCE price index showed a flat reading instead of the estimated 0.1% uptick, confirming that price pressures are subdued. Also, personal spending was flat in December even as personal income rose 0.3%, hinting that consumers....
Bitcoin price is still moving inside a triangle consolidation pattern but seems to be having trouble pushing for another upside breakout. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle visible on its 1-hour chart. Zooming further back shows that price previously formed a triangle formation then broke to the upside. However, technical indicators are hinting that bitcoin price is having a tough time repeating this bullish performance this time. Technical Indicators Signals. The 100 SMA is below the 200 SMA for now so the path....