Bitcoin Price Technical Analysis for 10/27/2016 – Next Upside Targets
Bitcoin price could be due for more gains after this upside breakout, possibly aiming for the $750 level next. Bitcoin Price Key Highlights. Bitcoin price made a strong upside break of the near-term resistance marked in a previous article. This suggests that bulls are gaining strength and could push price to the next ceiling. At the moment, bitcoin is testing the area of interest at $700, which is a major psychological level. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside, even on this daily chart. However, the....
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Bitcoin price seems to be set for one more push higher before the end of the year as it successfully took out the $800 barrier. Bitcoin Price Key Highlights. Bitcoin price finally made a convincing break past the $800 barrier, opening the path for further upside targets. Zooming out to the weekly time frame of bitcoin shows the next resistance levels. On a short-term perspective, bitcoin price made it up to the top of the channel illustrated in a previous article. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on the weekly time frame so the path of least....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
Bitcoin price is, at the time of writing, breaking out of a consolidation above $600. The market has noticed and the chatrooms are speculating if this is a time to buy. Technical analysis confirms the corrective rally proposed in yesterday’s analysis. Bitcoin price had been sticking to the Fib line near $633 (Bitstamp) and the 4hr 200MA (not shown) has risen up into the area of price action to provide additional support. After a period of consolidation, MACD Bollinger Band compression confirms the onset of price volatility. This is the typical configuration prior to a breakout, and....
Bitcoin price is enjoying upside momentum for now and might be on track towards testing the next ceiling at $1100. Bitcoin Price Key Highlights. Bitcoin price made a strong upside break from consolidation, signaling strong bullish momentum. Price continued its climb past the $1000 mark and could be aiming for the next resistance from here. Technical indicators are showing mixed signals so a pullback could be due before bitcoin price heads further north. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA on the 4-hour time frame so the path of least resistance....
Bitcoin price has shown strong upside momentum over the past few weeks and might be eyeing a test of these next ceilings. Bitcoin Price Key Highlights. Bitcoin price made another break higher over the weekend, indicating strong bullish momentum. Price is now testing another long-term area of interest around $700, at which either profit-taking or another upside breakout might be seen. Technical indicators are hinting that the rallies could pause but it would be helpful to look at the next potential resistance levels. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now so....