Bitcoin Price Technical Analysis for 09/23/2016 – Another Bearish Flag?
Bitcoin price is stalling but appears to simply be pausing from its recent dive to gather more momentum. Bitcoin Price Key Highlights. Bitcoin price is still stuck in tight consolidation for now in what appears to be a bearish continuation pattern. Price is hovering safely above several support levels but another push lower could be due, given the recent trend. A change in market sentiment, however, could spur a bounce back to the near-term resistance. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, suggesting that bulls could still push....
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Potcoin Price Key Highlights. Potcoin price continued to trade inside a flag pattern as highlighted in one of the recent technical analysis. Both buyers and sellers seem to be struggling to take the price in one particular direction, which created a range inside the flag pattern. A few technical indicators are pointing towards more losses and a break below the flag pattern. Potcoin price is trading inside a range and it looks like heading towards a break, waiting for a catalyst. Break Down? As mentioned in the previous analysis, there was a sharp decline noted in the Potcoin price which....
A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Bitcoin price could be in for another round of volatile action at the end of this month and quarter. Bitcoin Price Key Highlights. Bitcoin price has consolidated after its strong rally and correction in the past month. But with the end of the month AND quarter upon us, there’s a strong chance that traders would book profits off their recent positions. At the moment, bitcoin price appears to be showing a bearish flag pattern, which is typically considered a selloff continuation signal. Technical Indicators Signals. On the daily time frame, it can be seen that bitcoin price is still in the....
Potcoin Price Key Highlights. Potcoin price is still consolidating on the short-term time frames and zooming out to the daily chart shows that a bearish flag formation has formed. Sellers are hesitating to push price below the current support levels, as this lines up with the bottom of a longer-term triangle formation visible on the daily time frame. Potcoin price could make a move towards the actual triangle support on a break below the current bearish flag pattern. Bounce still possible? A break above the bearish flag pattern is still possible, though, potentially spurring a large....
Bitcoin price is consolidating inside a bearish flag formation, coming from a previous sharp selloff and possibly indicating another drop. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance could still be to the upside. However, the gap between the moving averages is narrowing so a downward crossover could take place and allow bears to jump in. A break below the short-term rising trend line connecting the lows since May 10 could be an early signal that bearish pressure is back. On the other hand, a move past the $456 near-term resistance could indicate that....