Bitcoin Price Technical Analysis for 10/18/2016 – Make or Break!
Bitcoin price seems to be exhausted from its climb and might need to pull back to the channel support before heading further north. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, trading inside an ascending channel pattern on its 4-hour time frame. Price is still consolidating close to the channel resistance with a bullish continuation pattern forming. An upside break from this flag formation could lead to a sharper climb while a downside move could lead to a test of the channel support. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on....
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Bitcoin price is sitting at the bottom of the long-term ascending triangle, still deciding whether to make a bounce or a break. RSI and moving averages are hinting at a break while stochastic is suggesting a bounce. To figure out where bitcoin price could be headed next, let’s turn to the technical indicators. The moving averages are showing a downward crossover at the moment, with the shorter-term 100 SMA below the longer-term 200 SMA. This indicates that the path of least resistance might be to the downside, favoring further losses. If a break below the triangle support is seen, bitcoin....
Bitcoin price is still deciding whether to bounce from or break above the descending trend line, depending on how U.S. data turns out. Bitcoin Price Key Highlights. Bitcoin price is still in a downtrend on its longer-term time frames and today’s market catalyst could allow it to resume its selloff. Price has yet to test the descending trend line connecting the highs of price action on the 4-hour chart. Technical indicators seem to be hinting that an upside breakout is possible. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance could....
Bitcoin price could be due for a strong break out of its consolidation pattern, but traders still seem to be undecided which way to push. Bitcoin Price Technical Analysis. Bitcoin price is still stuck in its consolidation pattern visible on the 4-hour time frame. Price is already at the peak of the symmetrical triangle formation, which means that a breakout could take place anytime now. Technical indicators and market sentiment appear to be hinting at a downside break. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. A....
Bitcoin price could be on track to test its previous year highs at $500 now that an upside break from the triangle consolidation pattern took place. So far, technical indicators don’t seem to have caught up with the sudden upside break yet, although the moving averages are edging closer to make a potential upward crossover. For now, the 100 SMA is still below the 200 SMA and is close to the triangle support at $360. Meanwhile, stochastic is indicating overbought conditions at the 80.0 level and is starting to turn lower, suggesting that selling pressure might pick up. Similarly, RSI is....
Bitcoin price is hovering at the resistance of the short-term descending channel and could be in for a continuation or reversal. Bitcoin Price Key Highlights. Bitcoin price seems to be establishing a downtrend now that it’s forming a descending channel on its 1-hour time frame. Price is now testing the channel resistance, still deciding whether to make a bounce or a break. Technical indicators seem to be indicating that the selloff could resume but there are also potential arguments for a reversal. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of....