Bitcoin Price Technical Analysis for 12/29/2016 – Setting Its Sights on $1,200?
Bitcoin price could be in for more gains past $1000 as long-term candles show no signs of reversal just yet. Bitcoin Price Key Highlights. Bitcoin price seems unstoppable in its climb, as strong bullish candles have formed on the weekly chart. The $1000 handle held as near-term resistance as predicted in the previous article since short-term traders likely booked some profits there. Still, the strength of the rally on the longer-term charts indicates that bulls have enough energy left in them. Technical Indicators Signals. The 100 SMA remains above the 200 SMA on the weekly chart,....
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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 is setting its sights on the yearly highs at $780 as bulls continue to gain traction. Bitcoin Price Key Highlights. Bitcoin price staged a remarkably strong rally yesterday after a brief pullback to an area of interest highlighted in the previous article. Price is just a few points away from the yearly highs around $780, at which profit-taking could take place. Technical indicators are showing that the rally could carry on. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. The gap between the....
Bitcoin price is starting an uptrend on its 1-hour time frame and bulls could keep this rally going after a test of support. Bitcoin Price Key Highlights. Bitcoin price is slowly starting to trend higher on the short-term time frames once more, creating an ascending channel formation on its 1-hour chart. Price just came off a test of the channel resistance and is setting its sights back on support. Technical indicators are suggesting that the channel support could hold and allow bitcoin price to resume its climb. Technical Indicators Signals. The 100 SMA just crossed above the longer-term....
Bitcoin price continues to consolidate in a tight range as traders wait for stronger market catalysts to set direction. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving between resistance at $646 and support around $637. Price just came off a test of resistance and could have its sights set back on support. A pickup in volatility could lead to a break in either direction, setting the tone for longer-term price action. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least resistance could be to....
Bitcoin price is still pushing higher, but these gains could hinge on this week’s top-tier market catalysts. Bitcoin Price Key Highlights. Bitcoin price recently made an upside breakout from a short-term consolidation pattern, signaling that bulls are putting up a fight. Price is back in consolidation for now, possibly waiting for more catalysts to fuel it higher. Technical indicators are suggesting that further gains are in the cards. Market Events. The 100 SMA seems to be attempting an upward crossover from the longer-term 200 SMA, signaling that the path of least resistance is to the....