Bitcoin Price Technical Analysis for 10/11/2016 – New Channel to Watch!

Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....

Bitcoin price could be due for a bounce off the channel support, with technical indicators reflecting the presence of buying momentum. Bitcoin Price Key Highlights. Bitcoin price has been steadily climbing on its 1-hour chart, moving inside an ascending channel pattern. Price bounced off the top of the channel once more and is now making a move towards support. If this area holds as a floor once more, bitcoin price could make its way back up to the channel resistance. Technical Indicators Signals. The 100 SMA just crossed above the 200 SMA to indicate that the path of least resistance is....

Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....

Bitcoin price could be due for either a bounce or a break of the channel resistance, depending how the top-tier catalysts today turn out. Traders are waiting for Fed Chairperson Janet Yellen's testimony today, as this might contain clues on when the Fed's next rate hike might be. Bitcoin price has been slowly trending lower on the short-term time frames, with a descending channel connecting the latest highs and lows of price action since last week. Price is currently testing the top of the channel which lines up with the 100 SMA dynamic resistance. Technical indicators are showing mixed....

Bitcoin price could be due for a test of the channel support once more, with technical indicators confirming a potential bounce. Bitcoin Price Key Highlights. Bitcoin price is still inside its ascending channel pattern after getting rejected on its attempt to break past the resistance. Price could be headed for the channel support for another bounce higher. Technical indicators suggest that the uptrend could carry on. Technical Indicators Signals. The 100 SMA lines up with the channel support around $665, adding to its strength as a potential floor. In addition, the 100 SMA is safely above....