Bitcoin Price Technical Analysis for 07/25/2016 – New Trend Forming

Which direction will Bitcoin’s price choose? Bitcoin’s movement. After its downward trend, Bitcoin’s price stopped on March 17th-18th and a rebound started forming. This is only natural, some traders are closing their positions at the lowest points, while the buyers who expect a new upward trend, are buying bitcoins at the most profitable price. However, that price is also the most risky. There are no specific signs of a buyer’s advantage in a situation like this, and such signs are important for stable profits. That’s why the trend will most likely change at the $412 resistance. This....

Bitcoin price is currently testing the rising trend line visible on its 1-hour time frames and could be ready to resume its climb. Bitcoin Price Key Highlights. Bitcoin price is slowly climbing, moving above a rising trend line on its 30-minute and 1-hour time frames. Price is currently testing this rising trend line support, with technical indicators suggesting that a bounce could take place. A return in bullish pressure could take bitcoin price back up to the previous resistance at $590 or higher. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, which confirms....

The short-term trend underwent a natural turn to growth. Does this movement have enough potential to grow into a medium-term trend? Will the upward trend continue? After holding for some time on the level of $412, which was predicted earlier, Bitcoin’s price has bounced off it, forming an upward trend in the process. The Bears were a minority at this point, despite how profitable it is for them, and a natural growth impulse followed.

Ethereum price climbed higher towards the $14.00 level as forecasted. However, there was a bearish pressure noted taking the price down. Intraday Support Level may be $11.80. Intraday Resistance Level can be $13.50. Ethereum price had a good upside run during the starting sessions yesterday as forecasted, as the price even traded close to the $14.00 level as forecasted. However, there sellers around the stated level, which pushed the price down. Currently, there is a bearish trend line forming on the hourly chart (data feed via Kraken), which is acting as a barrier and pushing the price....

Bitcoin price is establishing a new downtrend after breaking below an area of interest. More bears are waiting at this retest of the broken support. Bitcoin Price Key Highlights. Bitcoin price recently broke below an area of interest marked in an earlier article, indicating that a downtrend might be due. Price is now pulling back up to this area for a retest before gaining more traction in its selloff. If the near-term resistance holds, bitcoin price could make its way back down to the recent lows at $685. Technical Indicators Signals. The 100 SMA is still above the 200 SMA for now but the....