Bitcoin Price Technical Analysis for 10/03/2016 – Time for Another Pullback?

Bitcoin price could make a correction before resuming its climb past the $1000 mark and the short-term time frames illustrate potential pullback areas. Bitcoin Price Key Highlights. Bitcoin price seems to be having trouble breaking past the $1000 mark so a pullback might be in order. On the 1-hour time frame, an ascending channel can be seen and a pullback to support at $940 might be in the works. The channel support lines up with a broken resistance area and another dynamic inflection point. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least....

Bitcoin price might be in for a pullback opportunity to these inflection points before resuming its climb. Bitcoin Price Key Highlights. Bitcoin price recently made a strong rally and zooming in to the 1-hour chart shows potential correction levels. A bullish flag pattern can be seen on the longer-term time frames but it looks like buyers would need to wait for a pullback. Technical indicators are showing mixed signals at the moment, which suggests a possible short-term retracement on the ongoing uptrend. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the....

Bitcoin price is finding support at the 38.2% Fibonacci retracement level but a larger pullback might be due. Bitcoin Price Key Highlights. Bitcoin price is still selling off, moving towards the 38.2% Fib or the $650 area as predicted in the previous article. Price appears to have found a bit of support at this area, forming a long spike after the test and still deciding whether to resume the climb or to make a larger pullback. Technical indicators appear to be suggesting that the correction is still far from over. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the....

Bitcoin price might be in for a quick pullback to the broken triangle support before carrying on with its drop. Bitcoin price has formed a small double bottom pattern, indicating that a quick rally could take place. This could stall around the broken triangle support near the $430 level and the 61.8% Fibonacci retracement level. A shallow pullback could last until the 50% level or the $428 mark, which is also near the dynamic resistance at the moving averages. For now, the 100 SMA is above the 200 SMA but a downward crossover could confirm that the selloff is about to resume. An even....

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....