Bitcoin Price Technical Analysis for 12/08/2016 – Small Channel Sighted!
Bitcoin price is treading sideways in a narrow and shallow ascending channel visible on the short-term charts. Bitcoin Price Key Highlights. Bitcoin price is still moving in tight consolidation as traders might be holding out for stronger directional clues. Price is trading inside a narrow ascending channel visible on its 1-hour chart. Bitcoin is going for a test of the channel support and might be in for a climb back to the top, unless a breakout happens. Technical Indicators Signals. The 100 SMA is moving close to the 200 SMA and could be in for a downward crossover to show that sellers....
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Bitcoin price is trading inside an ascending channel pattern and might be due for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price is trending higher once more, forming higher lows and higher highs inside an ascending channel pattern on the 1-hour chart. Price is currently testing the channel resistance and might be due for a slide back to support. Volatility has picked up again recently so stronger moves and potential breakouts could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, signaling that the path of least....
Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....
Bitcoin price could be due for a bounce off the channel support, with technical indicators reflecting the presence of buying momentum. Bitcoin Price Key Highlights. Bitcoin price has been steadily climbing on its 1-hour chart, moving inside an ascending channel pattern. Price bounced off the top of the channel once more and is now making a move towards support. If this area holds as a floor once more, bitcoin price could make its way back up to the channel resistance. Technical Indicators Signals. The 100 SMA just crossed above the 200 SMA to indicate that the path of least resistance is....
Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....
Bitcoin price could be due for either a bounce or a break of the channel resistance, depending how the top-tier catalysts today turn out. Traders are waiting for Fed Chairperson Janet Yellen's testimony today, as this might contain clues on when the Fed's next rate hike might be. Bitcoin price has been slowly trending lower on the short-term time frames, with a descending channel connecting the latest highs and lows of price action since last week. Price is currently testing the top of the channel which lines up with the 100 SMA dynamic resistance. Technical indicators are showing mixed....