Bitcoin Price Technical Analysis for 12/07/2016 – Short-Term Consolidation Breakout
Bitcoin price is stuck in consolidation on its short-term time frames but could be poised for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has been treading sideways recently and has formed a symmetrical triangle formation on its 15-minute chart. A breakout could be due sooner or later since price is approaching the triangle’s peak. Technical indicators are giving mixed signals on this time frame but longer-term charts suggest that the uptrend could remain intact. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on this chart so the path of least....
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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 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 is still moving in tight consolidation, but this appears to be a continuation signal from the previous strong move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, as traders are waiting for bigger market catalysts before deciding which direction to take. Keep in mind that bitcoin just recently made a strong rally, which makes the consolidation pattern a bullish flag. Technical indicators seem to be suggesting that an upside breakout is likely. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame,....
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 stuck in consolidation as a potential breakout looms with top-tier catalysts on deck. Bitcoin Price Key Highlights. Bitcoin price is still treading sideways as traders wait for more market clues after the recent selloff. Price seems to be trending slightly higher on the short-term time frames, hinting that bulls are intent to keep losses in check. Technical indicators on the 15-min chart also suggest that further gains are possible. Technical Indicators Signals. The 100 SMA crossed above the longer-term 200 SMA on the 15-minute time frame, indicating short-term upside....