Technical Indicators Still Hint at Major Bitcoin Price Rally
The bitcoin price is still sliding into a new bullish pattern, but given recent activity, we should expect prices to stay around the same level for a while before major upward movements make their way into the market. According to indicators, as well as bullish consensus, prices are sliding into a new bullish pattern that could initially manifest itself as a fast rally to $820. However, after reaching $820, another congestion area would take hold, pushing prices sideways before they continue to move higher. The current lateral market brings a lot of false signals and the balance could....
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The bitcoin price has recently launched into an upward rally, with technical indicators showing the rise slowing down at $820 while bullish consensus builds to send it further to $1500 by 2017. After bullish signs flooded the markets, the bitcoin price has shifted into an upward rally. According to technical indicators, this rally should last until we hit $820, after which a sideways market will prevail. If this scenario gets confirmed, quotes would be able to double again to the year-end objective beyond $1800. The current Elliott Wave Theory 5th phase could be evaluated at the same size....
The bitcoin price rally reached close to $500 and 3600 CNY today. Advance is strong and has left the indicators tilted, yet technical tools such as support and resistance and moving averages allow traders to determine targets and likely entry and exit levels. That today’s 1-day price candle will confirm the $470 resistance as definitively broken, is not a maybe: it stretches green from $470 to $497 in the Bitstamp chart. OKCoin’s 3-month futures contract reached to $540 earlier today and the CNY charts have thundered past their November 2015 high. The past two days’ advance has been....
Bitcoin price appears to be correcting from its recent selloff but technical indicators are signaling that a longer-term bounce might be in order. Bitcoin Price Key Highlights. Bitcoin price is pulling up from its recent slide but could be in for more gains if sellers hop in the short-term area of interest. Support at $555 was previously broken and might hold as resistance moving forward. Technical indicators, however, are suggesting that the climb could continue. Technical Indicators Signals. The 100 SMA is safely above the 200 SMA so the path of least resistance is still to the upside.....
Bitcoin price is setting its sights on the yearly highs at $780 as bulls continue to gain traction. Bitcoin Price Key Highlights. Bitcoin price staged a remarkably strong rally yesterday after a brief pullback to an area of interest highlighted in the previous article. Price is just a few points away from the yearly highs around $780, at which profit-taking could take place. Technical indicators are showing that the rally could carry on. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. The gap between the....
Bitcoin price is still safely inside its ascending channel, with technical indicators confirming that the climb could carry on. Bitcoin Price Key Highlights. Bitcoin price continues to tread higher slowly, moving inside an ascending channel pattern visible on its 1-hour chart. Price just tested the channel resistance on a new wave higher and might be on its way towards testing support. Technical indicators also seem to be warming up to the idea of an uptrend in bitcoin price. Technical Indicators Signals. The 100 SMA is attempting to cross above the longer-term 200 SMA to indicate that the....