Bitcoin Price Technical Analysis for 11/23/2016 – Gunning for $800?
Bitcoin price is safely inside its ascending channel on the 4-hour time frame and is making a run for the resistance again. Bitcoin Price Key Highlights. Bitcoin price gained further upside traction upon bouncing off the ascending channel support highlighted in earlier articles. Price is now making its way towards the top of the channel near the $780 highs or onto the $800 handle. Technical indicators are confirming that bulls are still in control of bitcoin action. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA still, which means that the path of least....
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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 remains at the same price level from last week, reinforcing the $600 support area for the entire new cycle. Meanwhile, technical analysis indicates that bullish consensus is getting stronger, increasing the likelihood of a rally from $650 to $820. 5th Elliott Wave forecasting, based on Fibonacci numbers, could be calculated to the technical objective around the $820 area, where several theories point to the delayed next stage. From there, a technical correction should send prices back to $700, giving stragglers a second chance to recalculate their strategies to join. After another....
Ethereum price gained heavy bids against the US Dollar, and moved higher. It looks like the ETH/USD pair is now bullish and set for more upsides. Key Highlights. ETH price surged higher against the US Dollar and broke the $9.20 resistance. Yesterday’s highlighted bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD was broken to clear the way for more gains. The price looks set for a test of the $10.00 handle if the current trend remains intact. Ethereum Price Buy. Yesterday, we saw how ETH price was struggling to break the $8.40 level against the US Dollar. There....
Bitcoin price seems poised for more declines, putting it on track towards testing a major support zone visible on the longer-term time frames. However, technical signals are looking mixed for now. At the moment, risk appetite appears to be waning once more, as the IMF recently decided to lower their global growth forecasts for 2016 and 2017. The institution highlighted the risks stemming from the slowdown in China and the slump in commodity prices, particularly to emerging economies. With that, the safe-haven US dollar is reigning supreme against most of its counterparts, particularly the....
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....