Bitcoin Price Technical Analysis for 01/03/2017 – Closing in on $1100

Bitcoin price is enjoying upside momentum for now and might be on track towards testing the next ceiling at $1100. Bitcoin Price Key Highlights. Bitcoin price made a strong upside break from consolidation, signaling strong bullish momentum. Price continued its climb past the $1000 mark and could be aiming for the next resistance from here. Technical indicators are showing mixed signals so a pullback could be due before bitcoin price heads further north. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA on the 4-hour time frame so the path of least resistance....

Bitcoin price is in the middle of a pullback from its longer-term climb but might be ready to resume the uptrend if support holds. Bitcoin Price Key Highlights. Bitcoin price has been selling off in the past couple of days after breaking below a short-term rising trend line. The longer-term uptrend is still intact and bitcoin price is on its way to test a major support area. Technical indicators are suggesting that the uptrend could resume after this correction. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the....

Bitcoin price seems unstoppable in its climb as it kicked off 2017 on a strong bullish note with these candlestick formations. Bitcoin Price Key Highlights. Bitcoin price was off to a good start for the year, as three long green candles are forming on the weekly time frame. This reflects strong bullish pressure onto the first trading week of January, perhaps an omen of how price action could turn out for the rest of the month. Price has taken out the long-term resistance at the $1000 mark and is setting its sights on the next ceiling at $1100. Technical Signals. The 100 SMA is still above....

Bitcoin price seems to be aiming higher as bulls keep pushing it past one upside barrier after another. Bitcoin Price Key Highlights. Bitcoin price continues to rally, taking out one resistance level after another in the past few days. Bullish pressure is still strong and seems enough to carry price past the nearby ceiling at $1080-1100. In that case, the path is open for a move up to the January highs close to $1300. Technical Indicators Signals. The 100 SMA recently crossed above the longer-term 200 SMA on the 4-hour chart, confirming that the uptrend is more likely to carry on than to....

Bitcoin price could be ready to resume its rally now that price is testing a support area seen on the short-term chart. Bitcoin Price Key Highlights. Bitcoin price sold off in the past few hours as profit-taking took place off the near-term resistance. Price is still trading safely inside an ascending channel visible on the 1-hour chart and is currently testing support. A bounce off this support area could take bitcoin price back up to the channel resistance at $1100. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this chart so the path of least resistance is....