Bitcoin Price Technical Analysis for 11/08/2016 – Careful of US Election Breakouts!
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....
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Bitcoin price could keep up its pattern of weekend breakouts unless the FOMC statement results to a strong surge in dollar demand. Bitcoin Price Key Highlights. Bitcoin price is stuck in consolidation once more, following a strong upside breakout last week. Looking back at the previous breakouts shows that it occurs towards the end of the week and sustains its momentum until Monday. Upcoming event risks could keep this schedule in play, although the upcoming FOMC statement could make the situation more complex. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of....
It’s election season and now it’s time to get active: betting on the 2016 Presidential election in bitcoins is a thing! It’s going to be a wild one, so buckle up. There are still numerous events forthcoming before the election on November 7. Things could change. In the meantime, we laid out the best places on the web to profit off the US election by placing bets in bitcoins. We should note: don’t gamble away more than you afford to lose. Read on to see the insights given by the current odds for the 2016 presidential election. Fairlay – This prediction market for Bitcoin offers an enticing....
Bitcoin price is trading inside an ascending channel pattern and might be due for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price is trending higher once more, forming higher lows and higher highs inside an ascending channel pattern on the 1-hour chart. Price is currently testing the channel resistance and might be due for a slide back to support. Volatility has picked up again recently so stronger moves and potential breakouts could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, signaling that the path of least....
Bitcoin price decided to pick the northbound route, spurred by uncertainty gripping the financial markets so far. Bitcoin Price Key Highlights. Bitcoin price was previously stuck in consolidation but eventually broke to the upside as the US election results are coming in. Risk aversion is clearly favoring bitcoin at the moment, with the US dollar giving up ground as Trump takes the lead. Price could be in for more gains now that bullish momentum has picked up, but technical indicators say otherwise. Technical Indicators Signals. The 100 SMA is still below the 200 SMA on this short-term....
The weekend brought pain for Bitcoin, but that was always on the cards. My Friday's Bitcoin price technical analysis Palpable Strain concluded on a bearish note saying that a close below $286 could bring in further decline, and as can be seen, the cryptocurrency did slump intraday to $276.57 before taking support from near the previous consolidation level of $275. Bitcoin is currently trading at $281.26. Now, the important question that must concern the trading community is: Is this relief from the support level for real or is it a trap? This analysis will aim to provide some answers.....