Bitcoin Price Technical Analysis for 08/23/2016 – Bullish Channel Still in Play!
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....
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Bitcoin price appears to be encountering resistance at the top of the ascending channel visible on the 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price has been trading inside an ascending channel since the start of the month. Price made a strong bounce off the channel support on Friday on heightened risk aversion, triggering a climb to the top. If the channel resistance holds, another test of support could be in the cards. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA, confirming that the path of least resistance is to the upside and that....
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....
Bitcoin price could keep going for gains as the bullish channel on the short-term charts is staying intact. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside a short-term bullish channel on its 15-minute time frame. Price is hovering around the middle of the channel, still deciding whether to make a test of support or climb back to the resistance. Technical indicators are suggesting that the uptrend could carry on. Technical Indicators Signals. The 100 SMA is above the 200 SMA on this time frame, confirming that the path of least resistance is to the....
Bitcoin price seems to be exhausted from its climb and might need to pull back to the channel support before heading further north. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, trading inside an ascending channel pattern on its 4-hour time frame. Price is still consolidating close to the channel resistance with a bullish continuation pattern forming. An upside break from this flag formation could lead to a sharper climb while a downside move could lead to a test of the channel support. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on....
Bitcoin price could be due for a test of the ascending channel resistance visible on its 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price recently sold off but found support around the $650 area as predicted in an earlier article. This was in line with the 200 SMA, which held as a dynamic support level. Bullish pressure seems to be building up again as an ascending channel is forming. Technical Indicators Signals. Bitcoin price made a quick spike on its test of the channel support, indicating that buyers are putting up a fight and ready to push price back up to the top of the....