Bitcoin Price Technical Analysis for 08/10/2016 – Stuck in a Range!

Bitcoin price is stuck in consolidation, stalling at the middle of its range and still deciding whether to make a test of resistance or not. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways recently, bouncing off support at $565 and finding resistance at $585. Price is in the middle of its range for now and may be encountering a bit of resistance at the area of interest. A break above the moving averages could put it on track towards testing the range resistance once more. Technical Indicators Signals. The moving averages are oscillating, which suggests that the....

Bitcoin price appears to be moving sideways between $620 and $680 while traders wait for larger market catalysts. Bitcoin Price Key Highlights. Bitcoin price recently made a break lower from a consolidation pattern but popped up higher once more. Price is now nearing the $680 level, which has held as short-term resistance. If this continues to act as a ceiling, bitcoin price could make another test of the near-term support at $620. Technical Indicators Signals. The 100 SMA is completing an upward crossover from the 200 SMA, signaling that buyers are trying to take control of price action.....

Bitcoin price had a volatile run but remains stuck inside its short-term range. Bitcoin Price Key Highlights. Bitcoin price volatility picked up recently but it was unable to bust out of its range. Both bulls and bears attempted for a breakout but the cryptocurrency is still trapped between support at $658 and resistance at $670. Technical indicators are suggesting that the longer-term climb could carry on and that another upside breakout attempt could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA, which means that the path of least resistance....

Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....

Bitcoin price could continue to consolidate but if a breakout occurs, technicals are favoring a downside move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in its tight range on the short-term time frames, bouncing off support once more. A test of the near-term resistance could be in the cards but technical signals are pointing to a downside break. Buyers seem to be running out of momentum or traders are simply waiting for fresh market catalysts. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA for now, which suggests that buyers still may have a bit....