Bitcoin Price Technical Analysis for 11/03/2016 – Unstoppable Climb?

Bitcoin price followed through with its consolidation breakout and sustained its climb. Bitcoin Price Key Highlights. Following the recent upside breakout from the symmetrical triangle pattern, bitcoin price continued to climb as predicted in the earlier post. Price has now made its way to the triangle highs around $780 and is showing increased buying pressure to form new highs. Technical indicators are giving mixed signals at the moment, but it looks like the odds are in favor of more bullish action. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least....

Bitcoin price could be in for more gains past $1000 as long-term candles show no signs of reversal just yet. Bitcoin Price Key Highlights. Bitcoin price seems unstoppable in its climb, as strong bullish candles have formed on the weekly chart. The $1000 handle held as near-term resistance as predicted in the previous article since short-term traders likely booked some profits there. Still, the strength of the rally on the longer-term charts indicates that bulls have enough energy left in them. Technical Indicators Signals. The 100 SMA remains above the 200 SMA on the weekly chart,....

Bitcoin price is testing a long-term support area, with technical indicators hinting at a continuation of the climb. Bitcoin Price Key Highlights. Bitcoin price is in the middle of a sharp selloff but it seems to have found support at the rising trend line as predicted in the previous post. Price spiked off the $500 level, as plenty of buy orders were likely waiting in that area of interest, which held as resistance in the past. Technical indicators seem to be suggesting that the longer-term climb could resume from here. Technical Indicators Signals. The 100 SMA is above the longer-term....

Bitcoin price seems unstoppable in its climb as it is gunning for the $1000 level, which could be a profit-taking point. Bitcoin Price Key Highlights. Bitcoin price continued its ascent yesterday, taking out the $950 psychological barrier and setting its sights on $1000 next. A rising trend line can be drawn to connect the recent lows of price action, illustrating potential support levels in the event of a pullback. Profit-taking could ensue at the $1000 level since this represents a major psychological number. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 1-hour....

Bitcoin price has given way to dollar strength after the FOMC statement but could be ready to resume its climb. Bitcoin Price Key Highlights. Bitcoin price seems to be forming a new short-term rising channel visible on the 1-hour chart. Price was weighed down by dollar strength after the FOMC sounded more hawkish than expected in its latest statement. Bitcoin price still looks intent to carry on with its climb as technical indicators hint that a bounce is due. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. In....