Bitcoin Price Technical Analysis for 10/06/2015 – Pullback Before the Dive?
Bitcoin price could be ready to resume its dive after this quick correction, but the consolidation does look like a continuation signal. Bitcoin Price Key Highlights. Bitcoin price recently broke below its ascending channel support visible on the 1-hour and 4-hour charts. This signals that the uptrend may be over and that a reversal is in the works. Price found support at the 200 SMA and made a pullback to the broken channel floor, which might now hold as resistance. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA still, which means that the path of least....
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In the previous Bitcoin price technical analysis Rebounds, we discussed how the cryptocurrency was erasing the losses for the past week. But, the entire positivity was put to rest over the weekend as bears made a comeback and long positions were fast liquidated at the slightest hint of a pullback. Bitcoin, which is now trading at $227.93, has once again come closer to its important buying interest zone of $220-225. As the price decline has pushed the price closer to its crucial support, market participants may also be factoring in a breach of support this time, but I would recommend....
Bitcoin price is pulling up from its recent dive, offering a better entry point for sellers looking to catch the downtrend. Bitcoin Price Key Highlights. Bitcoin price recently made a break below the triangle consolidation pattern as illustrated in the previous update. Price rebounded off the $436 area and is showing a possible correction play. Any of the nearby inflection points might hold as resistance, all the way up to the broken support at $455. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 4-hour time frame so the path of least resistance might still be to the....
During the April 22nd session, bitcoin uncoiled upwards. The 1H chart shows not only a breakout from volatility, but also above consolidation resistance near 230. As the session wound down, the rally stalled around 239 at which point price stalled and formed a bearish divergence with the RSI. (When price makes a higher high and the RSI a lower high). Bitcoin (BTCUSD) 1H Chart April 23. After finding resistance at 239 along with the bearish divergence, price retreated as the April 23rd global session began. The pullback has been weak so far, holding around 233. The technical conditions in....
Bitcoin price exhibited a deep dive yesterday to reach a low of around $232 to fall just below the new trend line that we spotted during yesterday's analysis. By studying the 1 hour Bitfinex (BTC/USD) charts from tradingview.com, plotting the 20 hour EMA and extending the trend lines we plotted on the 4 hour charts during yesterday's analysis (look at the below chart), we can conclude the following: Bitcoin price dropped yesterday from $243 to around $232 during the 12:00 GMT hourly trading session to fall below the new trend line. Earlier before this drop, the price was well below the 20....
Rubycoin Price Technical Analysis. Rubycoin price is in the middle of a correction but it looks like the pullback is already over, as the 50% Fibonacci retracement level is holding as strong resistance. This retracement level lines up with a former support level, making it an area of interest and likely resistance. Rubycoin price has made a sharp selloff recently and might be done with its retracement from the move, allowing sellers to regain control. Spinning top at resistance? A spinning top reversal candlestick has formed on the latest pullback, hinting that price could turn a corner. A....