Bitcoin Price Technical Analysis – BTC/USD Trend Overwhelmingly Bullish
Bitcoin price posted heavy gains against the US Dollar, and it looks like the current trend for the BTC/USD pair is super bullish. Key Points. Bitcoin price surged higher against the US Dollar to challenge the $850-60 area (data feed from SimpleFX). Once there was a break above the $800 handle, the BTC buyers took control and took the price higher by $50. If the price corrects lower, then there is a bullish trend line on the hourly chart (data feed from SimpleFX) of BTC/USD waiting at $850 to act as a support. Bitcoin Price Uptrend. Recently, we saw how there was a crucial break in Bitcoin....
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Bitcoin’s price action throughout the past 24 hours has been overwhelmingly bullish Following a prolonged period of range-bound trading between $10,200 and $11,200, the benchmark cryptocurrency was finally able to buck this trend and rally up to $11,400 Its ascent has been slowing as it pushes further into the $11,000 region, but it still remains overwhelmingly strong at the moment Analysts are now noting that this latest move higher broke the cryptocurrency’s multi-week downtrend This […]
Bitcoin price is pulling up from its slide but might be ready to trend lower upon testing the resistance. Bitcoin Price Key Highlights. Bitcoin price is trading in a downtrend, moving below a descending trend line on its daily time frame. Price is gearing up for a test of the trend line and could be ready to resume the selloff soon. However, technical indicators are suggesting that buying pressure might still be present. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance could still be to the upside. In that case, a break past....
Litecoin price continued rising yesterday and earlier today to record a high of $1.95 on Bitfinex today, as we predicted during yesterday's analysis. As the resistance level at the 62% Fibonacci retracement has been already been broken, litecoin price is likely to continue rising as the market's buying volume continues to increase. By studying the 4 hour Bitfinex (LTC/USD) chart from tradingview.com, keeping the Fibonacci retracement levels we plotted throughout yesterday's analysis and plotting the William's Alligator indicator accordingly (look at the below chart), we can conclude the....
Bitcoin price could be ready for another bounce off the channel support as the bullish trend goes on. Bitcoin Price Key Highlights. Bitcoin price is still inside that ascending channel on its 1-hour time frame, bouncing off support as suggested in the earlier article. Price just got rejected on its test of the channel resistance once more, putting it back on track towards testing support. Technical indicators are suggesting that a pullback could take place but that the bullish trend could continue. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of....
Bitcoin price continued rising, emphasizing the bullish wave that started earlier this week. Yesterday, the price pushed upwards until it touched the $256 resistance line. The price reached a high of around $259 yesterday, before falling to $249 at the time of writing of this article. Basic and technical analyses are in favor of continuation of the bullish trend to push the price even higher. By studying the 1 day Bitfinex (BTC/USD) charts from tradingview.com, we can notice a reversal of the bearish trend on the 14th of January. By plotting the Relative Strength Index (RSI) on the same....