Bitcoin Price Technical Analysis for 28/01/2016 – Bears Taking Charge!
As predicted in the previous article, a breakout was looming for bitcoin price. It decided to take the southbound route, as bears gathered enough strength to push below the triangle support. Also, the US central bank recently decided to keep monetary policy unchanged, barely making any significant adjustments to its previous bias. Fed officials reiterated that they would continue to tighten at a gradual pace and that they’re keeping a close watch on the global economic and financial developments. This confirms that the slowdown in China and the slump in oil prices are not to be ignored and....
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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....
Bitcoin price has started a steady uptrend and might carry on, based on the new signals from technical indicators. The 100 SMA just crossed above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. However, the channel resistance appears to be holding so a pullback to these dynamic support areas near the bottom of the channel might take place. RSI is on its way down, indicating that bitcoin price bears are in control of price action for now. In that case, a quick drop to the channel bottom is indeed possible, as stochastic is also heading down from the....
Bitcoin price could pull back as low as the broken triangle resistance before resuming its climb, as technical indicators are hinting at a quick selloff. Bitcoin Price Key Highlights. Bitcoin price appears to be taking a break from its sharp climb, offering buyers an opportunity to catch the uptrend on a pullback. Bitcoin recently broke out of a symmetrical triangle formation and has surged past the previous year highs at $500. Price peaked at $600 before showing signs of a correction. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now, confirming that the longer-term....
Bitcoin price turned upon hitting the resistance at $460 as hinted by the bearish divergence. The oscillators fell from the overbought regions to indicate a return in bearish momentum. RSI is nearing the oversold area so profit-taking might happen but stochastic has a long way to go, which suggests that sellers could be in control for a long while. However, the 100 SMA is still above the longer-term 200 SMA so a bounce is still possible. Bitcoin price is still on top of the trend line drawn to connect the lows since late January this year so the uptrend could resume from here. Volatility....
Ethereum price has seen a lot of decline after hitting an all-time high above $4,900. This move saw the bears push the price back, resisting the campaign to hit $5,000. So far, the bears have remained in control, and it seems that this will be the case for a while, with technicals pointing toward a possible 10% crash that would send the price toward $4,000 again. Why Ethereum Price Is At Risk In an update to a previous analysis, Klejdi Cuni has forecasted a further decline for the Ethereum price, with bearish indicators being more prominent. The previous prediction, shared over the....