Bitcoin Price Technical Analysis for 07/15/2016 – Still Testing Channel Support!
Bitcoin price is testing the ascending channel on the 1-hour time frame, still deciding whether to go for a continuation or a reversal. Bitcoin Price Key Highlights. Bitcoin price has been edging lower recently but the overall uptrend on the short-term chart seems intact. Price is still inside its ascending channel and is currently testing the support. A bounce could confirm that bulls are still in control of bitcoin price action while a breakdown would suggest that a downtrend is in order. Technical Indicators Signals. The 100 SMA is above the 200 SMA, which means that the the path of....
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Bitcoin price is testing the ascending channel support visible on the 4-hour time frame and could be gearing up for another rally. Bitcoin Price Key Highlights. Bitcoin price is still trending higher on its 4-hour chart and moving inside the ascending channel previously marked. Price has pulled all the way back to the channel support around $740-745 after previously testing the yearly highs. There are several inflection points at this support zone so a bounce could be due, and technical indicators are suggesting that buyers are about to return. Technical Indicators Signals. The 100 SMA is....
Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....
Bitcoin price could be ready for another bounce off the channel support as the bullish trend goes on. Bitcoin Price Key Highlights. Bitcoin price is still inside that ascending channel on its 1-hour time frame, bouncing off support as suggested in the earlier article. Price just got rejected on its test of the channel resistance once more, putting it back on track towards testing support. Technical indicators are suggesting that a pullback could take place but that the bullish trend could continue. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of....
Bitcoin price is testing the ascending channel support, still deciding whether to resume the uptrend or break lower. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside the ascending channel visible on its 1-hour time frame. As illustrated in the earlier article, price made its way back to the channel support after getting rejected on its test of resistance. Support around $580 seems to be holding so far and technical indicators are suggesting that the climb could continue. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, hinting....
Bitcoin price is now testing the bottom of the ascending channel and technical indicators seem to be suggesting a bounce. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. In addition, the 200 SMA is near the bottom of the channel and is currently holding as support around $450. Stochastic is on the move up from the oversold area, suggesting a pickup in buying pressure. This could take bitcoin price back up to the top of the channel at $460 or higher. Similarly, RSI is pointing higher, reflecting that buyers are regaining control. However,....