Bitcoin Price Technical Analysis for 09/27/2016 – Bullish Momentum Returning?
Bitcoin price looks ready to resume its climb as the ascending channel support is still holding. Bitcoin Price Key Highlights. Bitcoin price is still hovering around the bottom of the ascending channel on its 4-hour time frame. Bullish momentum seems to be returning as price made a more convincing bounce and is in a continuation pattern. A bullish flag pattern has formed after the recent sharp rally, and a break past this formation could seal in more gains. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA, indicating that the path of least resistance is to....
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Bitcoin price seems to be regaining bullish momentum after breaking above this short-term consolidation pattern. Bitcoin Price Key Highlights. Bitcoin price recently made a strong rally but fell back in consolidation as bulls struggled to keep the momentum going. Buying pressure seems to be returning since price broke to the upside of the consolidation pattern and appears to have completed a quick pullback. Price could head back to the previous highs from here or carry on with a larger retracement. Technical Indicators Signals. The 100 SMA is still safely above the longer-term 200 SMA....
Bitcoin price gave up ground to the dollar on Friday but buyers soon returned at a key area of interest. Bitcoin Price Key Highlights. Bitcoin price sold off quickly on Friday but bulls were waiting to charge at the rising trend line. Price could resume its climb from here as technical indicators on the 1-hour time frame suggest that the uptrend could stay intact. A return in bullish pressure could push bitcoin up to the recent highs near $730 or higher. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least resistance is still to....
Bitcoin price got a boost from fresh concerns in the UK financial sector, leading traders to price in more uncertainty. Bitcoin Price Key Highlights. Bitcoin price appears to be showing a return in bullish momentum as it bounced off a nearby support zone. Bitcoin seems to be on track towards climbing to the top of its ascending channel on the 1-hour time frame. For now, price is still hovering around the mid-channel area of interest, waiting for a stronger surge in bullish momentum. Technical Indicators Signals. The 100 SMA is still above the 200 SMA so the path of least resistance is to....
Bitcoin price is enjoying stronger bullish pressure that’s pushing it up on a much steeper climb lately. Bitcoin Price Key Highlights. Bitcoin price has been making one upside breakout after another, indicating the presence of strong bullish momentum. A steeper rising trend line can be drawn to connect the latest lows of price action on the 1-hour time frame. Price could be in for a shallow pullback to this rising trend line or a larger correction to the nearby area of interest. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA so the path of least....
Bitcoin price decided to pick the northbound route, spurred by uncertainty gripping the financial markets so far. Bitcoin Price Key Highlights. Bitcoin price was previously stuck in consolidation but eventually broke to the upside as the US election results are coming in. Risk aversion is clearly favoring bitcoin at the moment, with the US dollar giving up ground as Trump takes the lead. Price could be in for more gains now that bullish momentum has picked up, but technical indicators say otherwise. Technical Indicators Signals. The 100 SMA is still below the 200 SMA on this short-term....