Bitcoin Price Technical Analysis for 11/24/2016 – Eyes on This Triangle

Bitcoin price is moving inside a symmetrical triangle consolidation pattern and is on track towards testing the resistance. The 100 SMA is below the longer-term 200 SMA, confirming that the path of least resistance is to the downside and that the triangle resistance near $450 is likely to hold. In addition, the 200 SMA lines up with the top of the triangle as a dynamic resistance level. For now, price is encountering some resistance at the 100 SMA and if this holds, another test of the support could take place. Stronger selling momentum might even trigger a downside breakout. Stochastic....

Bitcoin price broke below its triangle support to indicate that the selloff isn’t over yet. Bitcoin Price Key Highlights. Bitcoin price was trading inside an ascending triangle pattern as illustrated in a previous article. Price broke below support, indicating a pickup in bearish momentum and a likely drop to the triangle lows around $580. Technical indicators are also suggesting that further declines are possible. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is still to the downside. In addition, these moving averages held as dynamic....

Bitcoin price is hovering around the top of its descending triangle and the top-tier market catalysts could determine if it will hold as resistance. Bitcoin Price Key Highlights. Bitcoin price has been forming lower highs and finding support near $560, creating a descending triangle formation visible on its 4-hour chart. Price is back to the triangle resistance once more, still deciding whether to make a bounce or a break. Technical indicators are giving mixed signals so far, which means that direction could hinge on market catalysts. Technical Indicators Signals. The 100 SMA is below the....

Bitcoin price is still moving inside a triangle consolidation pattern but seems to be having trouble pushing for another upside breakout. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle visible on its 1-hour chart. Zooming further back shows that price previously formed a triangle formation then broke to the upside. However, technical indicators are hinting that bitcoin price is having a tough time repeating this bullish performance this time. Technical Indicators Signals. The 100 SMA is below the 200 SMA for now so the path....

Bitcoin price is still inside its long-term triangle consolidation pattern and might make another test of the resistance. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $470 level, creating an ascending triangle pattern on its daily chart. Price just bounced off the triangle support and is due for a test of resistance once more. Technical indicators are signaling that further gains are possible. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is still to the upside. A sharp move lower could find....