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, 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 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....
Unlike last week, when we tried to incorporate a range of technical charting patterns into our bitcoin price trading strategy, this week’s strategy has been pretty straightforward. When we see s sustained directional bias (in this case, to the upside) it’s often just a matter of stepping up the key levels with each new formation swing high, and rerunning the same approach – similar distance targets, tights stops, nothing too aggressive. In yesterday’s analysis we set up against a potential upside break, and overnight we got the break – not without a brief downside correction, however, but....