Bitcoin Price Technical Analysis for 07/13/2016 – Bulls Ready to Charge?
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....
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Bitcoin price appears to be pulling up from its post-Brexit surge but the short-term uptrend could remain intact. Bitcoin Price Technical Analysis. Bitcoin price made a strong surge on Friday as the UK voted to exit the EU. This could mean an extended period of uncertainty in the financial markets, lending more support for alternative assets like bitcoin. Price appears to be drawing support from the 50% Fibonacci retracement level on the 1-hour time frame and a rising trend line can be drawn to connect the lows since June 22. Technical Indicators Signals. The 100 SMA is below the 200 SMA....
Bitcoin price could make another move towards the top of its channel since bulls have been waiting to charge at this area of interest. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 4-hour time frame, still moving inside its ascending channel pattern. As shown in an earlier article, bitcoin has found support at a former resistance level and looks ready to resume its rally. This area of interest is right in the middle of its longer-term ascending channel. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, which means....
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 is settling inside a new rising channel on its 1-hour time frame and might be due for a test of support soon. Bitcoin Price Key Highlights. Bitcoin price is trending higher on its 1-hour time frame, moving inside an ascending channel pattern. Price just bounced off the resistance and is making its way back towards support. Technical indicators are suggesting that the uptrend could carry on, possibly leading to another test of the channel resistance. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA for now so the path of least resistance is to the....
Bitcoin price broke out of its triangle consolidation pattern, indicating that bulls are ready to take control once more. Bitcoin Price Key Highlights. Bitcoin price was previously stuck inside a symmetrical triangle consolidation pattern as bulls and bears were in a tight race. Bulls eventually won out as price made another upside breakout, following the previous break higher on an earlier triangle formation. This puts bitcoin price on track towards testing the $800 handle, which might spur profit-taking once more. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA....