Bitcoin Price Technical Analysis for 07/14/2016 – New Uptrend Forming?
Bitcoin price could be due for a bounce off this support zone and technical indicators appear to be in agreement. Bitcoin Price Key Highlights. Bitcoin price underwent additional volatility and sold off yesterday but it appears to be testing another support area. Price is forming an ascending channel pattern on its 1-hour time frame and might be due for a bounce towards the resistance. Technical indicators are also suggesting that buyers could regain control. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to confirm that the uptrend could carry on. In....
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Litecoin Price Key Highlights. Litecoin price has been gradually trending higher against the U. S. dollar, mostly due to the latter's selloff in recent trading sessions. Price is currently testing the bottom of the ascending channel visible on its short-term time frame and might be due for a bounce. Litecoin price is on a steady uptrend these days and could be in for a much stronger bounce, as it is testing the rising channel support. Bullish divergence forming. Litecoin price has been forming higher lows while technical indicators drew lower lows, creating bullish divergence for both RSI....
Bitcoin price appears to have chosen to take the northbound route and is waiting for more bulls to sustain the climb. Bitcoin Price Key Highlights. Bitcoin price is establishing a new uptrend, forming an ascending channel visible on its 1-hour chart. In addition, price seems to have broken above the symmetrical consolidation pattern illustrated in an earlier article, signaling further upside. Bitcoin is still testing an area of interest for the time being and technical indicators are giving mixed signals once more. Technical Indicators Signals. The 100 SMA is below the 200 SMA on this time....
Bitcoin price is trending higher but might be due for a quick drop to the bottom of its short-term uptrend channel. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. The gap between the moving averages is widening so bullish momentum is strengthening. However, stochastic is on the move down so bitcoin price could follow suit, supporting the idea that a test of the channel support at $450 is possible. Similarly, RSI is pointing down and making its way out of the overbought area to show that profit-taking off the recent rallies is in play.....
Bitcoin price is finding support at the 38.2% Fibonacci retracement level but a larger pullback might be due. Bitcoin Price Key Highlights. Bitcoin price is still selling off, moving towards the 38.2% Fib or the $650 area as predicted in the previous article. Price appears to have found a bit of support at this area, forming a long spike after the test and still deciding whether to resume the climb or to make a larger pullback. Technical indicators appear to be suggesting that the correction is still far from over. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the....
Bitcoin price could be starting a new uptrend but it needs to find support at the nearby Fib levels before confirming this climb. Risk-on flows appear to be supporting the cryptocurrency and weighing on dollar demand. Bitcoin price appears to be starting a new trend on its short-term time frames, as an ascending trend line can be drawn to connect the recent lows of price action. Technical indicators are also hinting at a start of a short-term uptrend, with the moving averages looking prime for an upward crossover. Using the Fibonacci retracement tool on the latest swing high and low....