Bitcoin Price Technical Analysis for 08/17/2016 – Testing Area of Interest
Bitcoin price enjoyed a strong rally recently but could be ready to resume its slide soon if this area of interest holds. Bitcoin Price Key Highlights. Bitcoin price broke above the neckline of the short-term double bottom formation illustrated in the previous article. Price has climbed to the $580 area since and is testing the support turned resistance level. Additional resistance is located around technical inflection points so a return in bearish pressure could be due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, confirming that the path of least....
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Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Bitcoin Price Technical Analysis. Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former resistance around $715, adding....
Bitcoin price is testing a long-term support area, with technical indicators hinting at a continuation of the climb. Bitcoin Price Key Highlights. Bitcoin price is in the middle of a sharp selloff but it seems to have found support at the rising trend line as predicted in the previous post. Price spiked off the $500 level, as plenty of buy orders were likely waiting in that area of interest, which held as resistance in the past. Technical indicators seem to be suggesting that the longer-term climb could resume from here. Technical Indicators Signals. The 100 SMA is above the longer-term....
Bitcoin price is stalling at a strong area of interest visible on the long-term charts, with indicators suggesting that the resistance could hold. Bitcoin Price Key Highlights. Bitcoin price is consolidating on its short-term time frames and for good reason. Price is actually testing a major area of interest at $645-650, as this held as support in the past and could keep holding as a ceiling. Technical indicators on the longer-term charts are giving mixed signals at the moment. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the daily time frame, showing that....
Bitcoin price has shown strong upside momentum over the past few weeks and might be eyeing a test of these next ceilings. Bitcoin Price Key Highlights. Bitcoin price made another break higher over the weekend, indicating strong bullish momentum. Price is now testing another long-term area of interest around $700, at which either profit-taking or another upside breakout might be seen. Technical indicators are hinting that the rallies could pause but it would be helpful to look at the next potential resistance levels. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now so....
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....