Bitcoin Price Technical Analysis for 17/02/2016 – Testing the Triangle Resistance… Again!
Bitcoin price is stalling right on the symmetrical triangle resistance, still deciding whether to make a bounce or a break. The 100 SMA is below the 200 SMA on the 4-hour time frame, indicating that the path of least resistance is to the downside. This means that the triangle resistance is likely to keep gains in check, forcing bitcoin price to turn back south and make a test of the support at $380. Stochastic is indicating overbought conditions, although the oscillator hasn’t turned down from the 80.0 level yet. RSI, on the other hand, is already on the move down so bearish momentum might....
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Ethereum price seems to have its sights set higher after breaking out of a descending triangle on its 4-hour chart. Technical indicators are also supporting further gains. Ethereum price had previously consolidated inside a descending triangle pattern, forming lower highs and finding support at 0.00250. At the moment, ethereum price is testing the near-term resistance at the 0.00300 level, waiting for more bulls for another leg higher. An upside break past this level could take it up to the next area of interest at 0.00330-0.00350 then onwards to the larger triangle highs at 0.00400.
Bitcoin price is trading inside a symmetrical triangle consolidation pattern and might be ready for a breakout. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $616 level, creating an ascending triangle pattern on the 1-hour time frame. Price is currently testing the resistance and could be due for a breakout sooner or later. Technical indicators are giving mixed signals on where bitcoin price could go next. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside. The chart pattern is....
Bitcoin price is consolidating inside a symmetrical triangle formation, possibly gearing up for a strong breakout. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle pattern visible on its short-term chart. Price is currently testing support and might be due for a bounce back to the resistance. Technical indicators are giving mixed signals, although a downside break seems possible. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the....
Bitcoin price could turn upon testing the triangle resistance around $420-430, possibly heading towards the bottom again. The 100 SMA is below the 200 SMA so the selloff could resume at some point. However, bitcoin price recently broke past the longer-term 200 SMA so a reversal might also be possible. Stochastic is already indicating overbought conditions and is starting to turn south so price might follow suit later on. RSI is also in the overbought area as well, indicating that bullish momentum is about to fade. In that case, bitcoin price could still make a test of the triangle....
Bitcoin price is moving inside a tiny triangle consolidation pattern but may be due for a breakout sooner or later. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and found support around $607.50, creating a descending triangle visible on its short-term time frames. Price seems to have gotten rejected at the resistance and is on its way towards testing support once more. Technical indicators are suggesting that a bounce off the area of interest could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, which suggests that the path of....