Bitcoin Price Technical Analysis for 09/28/2016 – Bulls Waiting at Channel Support

Bitcoin price could make another move towards the top of its channel since bulls have been waiting to charge at this area of interest. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 4-hour time frame, still moving inside its ascending channel pattern. As shown in an earlier article, bitcoin has found support at a former resistance level and looks ready to resume its rally. This area of interest is right in the middle of its longer-term ascending channel. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, which means....

Bitcoin price is sustaining its climb but there are technical signals hinting at a possible selloff. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside an ascending channel pattern on its 1-hour chart. Price is cruising around the mid-channel area of interest, as buyers and sellers are likely waiting for more directional market clues. Technical indicators seem to be suggesting that a reversal is imminent, though. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. Also, the gap....

Bitcoin price continues to move in an uptrend and is currently making a correction to draw more buyers to the mix. Bitcoin Price Key Highlights. Bitcoin price has been consistently trending higher, moving inside an ascending channel formation visible on the 4-hour and 1-hour charts. Price has just bounced off the channel resistance around $800 and is heading back towards support. A bounce from the channel bottom could be in the cards as more bulls are waiting at that area. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to....

Bitcoin price bounced off the channel support as expected and might have its sights set on the top. Technical indicators are still reflecting indecision, as traders are holding out for this week's set of top-tier catalysts. The 100 SMA just crossed above the 200 SMA, confirming that the uptrend is likely to carry on. In addition, these moving averages held as near-term support levels since they line up with the channel support around $430. That long-wicked candle suggests that buyers are refusing to let bitcoin price drop too much, as long orders were probably located right around 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....