Bitcoin Price is Straddling Key Resistance and Support Here
We haven’t looked at Bitcoin in a few days, so today let’s look again at the daily chart, to get a look at the medium-term environment. Here is the bull setup we looked at in the recent past: As you can see, pricetime is meandering it’s way through the 3rd arc pair. Longer term this is bullish because when it gets out of the arc pair it is likely to rise again. But until it gets to the other side, with a strong close above the arc, it’s not so clear what will happen while its in the pair itself. The red vertical line shows that tomorrow is 120 degrees since the spike low of 6/22. So we are....
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Ethereum price remained below the $8.40 resistance area against the US dollar, and ETH/USD is currently testing the $7.80-90 support area. Key Highlights. ETH price made another attempt to break the $8.40 resistance area against the US Dollar, but failed. There is a bullish trend line formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which is currently holding the downside move. The price need to stay above the $7.80 support area, else there can be more declines. Ethereum Price Support. There was an upside move in ETH price against the US Dollar to trade near the $8.40....
Ethereum price popped above a major resistance area of $11.80. Now, can it provide support and push ETH higher versus the USD? Ethereum price kept struggling near the $11.80 resistance area, as highlighted in yesterday’s post. However, the ETH bulls finally managed to take the price above the stated level, and there was an hourly close above it. Now, the price is moving down, and the same resistance area is currently acting as a support and helping the bulls to regain ground. There is an ascending channel pattern formed on the hourly chart (data feed via Kraken) of ETH/USD, which may play....
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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....