Bitcoin Price Technical Analysis for 15/02/2016 – Heading for Larger Triangle Top

Bitcoin price just came off a test of the triangle support and might be due for another move towards resistance. The 100 SMA is above the 200 SMA, signaling that the path of least resistance is to the upside. Stochastic is on the move up, which also confirms that buyers are in control of price action for now, likely pushing for a test of the triangle top around $420-430. RSI is also heading north so price might follow suit. Stronger bullish pressure might even lead to an upside break of the triangle resistance and a prolonged uptrend for bitcoin price. In that case, price could resume its....

Bitcoin price made an upside breakout from its long-term consolidation pattern, signaling that it's ready to go for more gains. The 100 SMA is above the 200 SMA, confirming that the path of least resistance is to the upside and that further gains are in the cards. However, the gap between the two moving averages is narrowing so a downward crossover might eventually take place. Stochastic is already indicating overbought conditions so buying pressure could weaken soon. RSI is also moving close to the overbought region, which means that buyers might need to take a break and let sellers take....

Ethereum price seems to have its sights set higher after breaking out of a descending triangle on its 4-hour chart. Technical indicators are also supporting further gains. Ethereum price had previously consolidated inside a descending triangle pattern, forming lower highs and finding support at 0.00250. At the moment, ethereum price is testing the near-term resistance at the 0.00300 level, waiting for more bulls for another leg higher. An upside break past this level could take it up to the next area of interest at 0.00330-0.00350 then onwards to the larger triangle highs at 0.00400.

Bitcoin price is still stuck inside the triangle consolidation pattern but might be gearing up for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and found support around $730, creating a descending triangle pattern. Price just bounced off support and might be ready for a test of resistance at $750-755. Technical indicators seem to be hinting that the resistance would hold, although a breakout is possible with this week’s event risks. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is still to....

Bitcoin price could be due for a breakout from the symmetrical triangle consolidation pattern, setting the next trend for price action. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to the downside. A candle closing below the $445 level could be enough to confirm that a downtrend is set to take place. The triangle spans $435-465 so the resulting selloff could last by $30 or at least until the triangle lows. Stochastic is on the move down so sellers are in control. RSI is also heading south, indicating the presence of selling pressure. However, if....