Bitcoin Price Technical Analysis for 10/13/2016 – Buy on Dips?

Bitcoin price is in for another dip to the ascending trend line support, offering an opportunity to buy on dips. Bitcoin Price Key Highlights. Bitcoin price made a strong rally after its bounce off the rising support, as indicated in an earlier article. The $740 area is holding as resistance, possibly spurring another potential correction to the ascending trend line support. Technical indicators are suggesting that the uptrend could continue but that profit-taking is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....

Bitcoin has risen more than 1% since yesterday to $295.76 as bulls made another attempt at crossing the supply hurdle. As technical factors come into play, we may eventually see a decisive breach of the resistance. In the last analysis Bulls Struggle At Resistance, I had concluded that Bitcoin is a buy on dips opportunity, and as can be seen, the price did dip to $286.43 before bulls rushed in to add Bitcoin to their portfolio and took the price to an intraday high of $297.44. Looking technically at the daily BTC-USD price chart conveys that even though the price rise is still capped by....

Bitcoin price moved higher after a minor correction as forecasted. Read more how BTC/USD can trade from the current levels. Bitcoin price surged higher and after a minor correction managed to gain bids for another upside move. I highlighted a plan of buying dips yesterday, which worked perfectly, and now I think it is time to book profits as BTC/USD is heading towards a major resistance area and it is not worth the risk. The price stayed above a major bullish trend line formed on the hourly chart (data feed from Bitstamp), and also managed to break a minor bearish trend line on the same....

Ethereum price surged higher and created a new high above $9.5. Let’s see whether it can rise further in the near term. Intraday Support Level can be $7.80. Intraday Resistance Level may be $9.00. Ethereum price rocketed higher during the past two days. Both days we were looking to buy Ethereums and our plan worked perfectly. First, we were looking to buy with a break, and then yesterday, I suggested to buy dips. The price did correct a few points down yesterday, and then found buyers. There was a sharp upside reaction after the correction was completed. The price climbed higher and even....

Bitcoin price could be in for a drop from the channel resistance, offering another chance to buy on the dips to support. Bitcoin Price Key Highlights. Bitcoin price is still trading inside its short-term ascending channel and is currently testing the resistance. Reversal candlesticks have formed at this level so it’s likely that bulls could book profits and trigger another dip to the channel support. Technical indicators are showing that the uptrend could continue but that a pullback is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least....