Bitcoin Price Technical Analysis for 10/10/2016 – Ascending Triangle Pattern

Bitcoin price is consolidating in an ascending triangle pattern while market participants wait for more catalysts. Bitcoin Price Key Highlights. Bitcoin price is back in consolidation after making strong moves in the past few weeks. Price has formed higher lows and found resistance around $680, creating an ascending triangle pattern. Bitcoin has just bounced off the triangle support and appears ready for another test of resistance. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. However, the gap between the two moving....

Bitcoin price is still inside its long-term triangle consolidation pattern and might make another test of the resistance. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $470 level, creating an ascending triangle pattern on its daily chart. Price just bounced off the triangle support and is due for a test of resistance once more. Technical indicators are signaling that further gains are possible. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is still to the upside. A sharp move lower could find....

Bitcoin Price Key Highlights. Bitcoin price is stuck in consolidation once more, moving inside an ascending triangle pattern visible on its 1-hour time frame. Price previously broke below an earlier triangle pattern, hinting that another downside break might be in the cards. Bitcoin price is currently testing the ascending triangle resistance, still deciding which direction to take, with technical indicators giving mixed signals. Buyers Still in Control. Stochastic is heading north so bitcoin price could still follow suit, potentially spurring an upside break from the triangle resistance....

Bitcoin price broke below its triangle support to indicate that the selloff isn’t over yet. Bitcoin Price Key Highlights. Bitcoin price was trading inside an ascending triangle pattern as illustrated in a previous article. Price broke below support, indicating a pickup in bearish momentum and a likely drop to the triangle lows around $580. Technical indicators are also suggesting that further declines are possible. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is still to the downside. In addition, these moving averages held as dynamic....

Bitcoin price might be in for another sharp breakout since it is approaching the peak of its short-term triangle consolidation pattern. Bitcoin Price Key Highlights. Bitcoin price has been stuck in consolidation once more, as traders are waiting for more directional clues. Today’s top-tier events and potential profit-taking ahead of the weekend could spur stronger moves. Price has formed higher lows on the 1-hour time frame and found resistance around $550, creating a short-term ascending triangle pattern. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 1-hour time....