Bitcoin Price Technical Analysis for 20/01/2016 – Aiming for Next Area of Interest?
Bitcoin price seems poised for more declines, putting it on track towards testing a major support zone visible on the longer-term time frames. However, technical signals are looking mixed for now. At the moment, risk appetite appears to be waning once more, as the IMF recently decided to lower their global growth forecasts for 2016 and 2017. The institution highlighted the risks stemming from the slowdown in China and the slump in commodity prices, particularly to emerging economies. With that, the safe-haven US dollar is reigning supreme against most of its counterparts, particularly the....
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Bitcoin price could make a correction from its recent rally then resume the climb since bulls are waiting at the area of interest. Bitcoin Price Key Highlights. Bitcoin price recently broke past an area of interest around $642 then rallied to the $675 area. From there, price retreated and is showing signs of a potential pullback to the broken resistance. Technical indicators are showing that the climb could resume at some point. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to show that the path of least resistance is to the upside and that the rally....
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....
Bitcoin price could turn upon hitting the resistance at the top of the rising channel, possibly making its way towards support again. Technical indicators are giving mixed signals but it looks like the short-term uptrend might carry on. The 100 SMA is below the 200 SMA so the path of least resistance might be to the downside, signaling that the mid-channel area of interest could still keep gains in check. If so, bitcoin price could drop back to the channel support around $370-372. Stochastic is on the way up so there may be some buying pressure left enough to trigger a test of the....
Bitcoin price is having trouble breaking past this area of interest visible on the daily time frame as technical indicators are giving mixed signals. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation on its short-term time frames and looking at the daily chart shows why. Price is actually stalling below a former support zone around the $600-620 area, which might continue to hold as resistance. Price is also encountering a bit of a ceiling around its 100 SMA on the longer-term chart. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this....
Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Bitcoin Price Technical Analysis. Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former resistance around $715, adding....