Bitcoin Price Technical Analysis for 27/01/2016 – Breakout Looming!
Bitcoin price has been unable to pick a clear direction lately, with market participants holding out ahead of the top-tier market events this week. Perhaps the biggest market catalyst this week might be the FOMC statement, although no actual monetary policy changes are expected for now. Perhaps the biggest market catalyst this week might be the FOMC statement, although no actual monetary policy changes are expected for now. After all, the Fed just hiked interest rates by 0.25% in December and might be keen on preventing additional market volatility for now. Instead, market watchers will be....
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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....
Bitcoin price might be in for another sharp breakout since it is approaching the peak of its short-term triangle consolidation pattern. Bitcoin Price Key Highlights. Bitcoin price has been stuck in consolidation once more, as traders are waiting for more directional clues. Today’s top-tier events and potential profit-taking ahead of the weekend could spur stronger moves. Price has formed higher lows on the 1-hour time frame and found resistance around $550, creating a short-term ascending triangle pattern. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 1-hour time....
Bitcoin price could be due for a strong break out of its consolidation pattern, but traders still seem to be undecided which way to push. Bitcoin Price Technical Analysis. Bitcoin price is still stuck in its consolidation pattern visible on the 4-hour time frame. Price is already at the peak of the symmetrical triangle formation, which means that a breakout could take place anytime now. Technical indicators and market sentiment appear to be hinting at a downside break. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. A....
Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....