Bitcoin Price Technical Analysis for 01/06/2017 – Finally, a Pullback to $950!
Bitcoin price suffered a sharp crash upon hitting a strong ceiling, inspiring a major pullback that could revive bullish interest. Bitcoin Price Key Highlights. Bitcoin price made a sharp much-needed tumble after price hit record highs around the $1200 area. As predicted in an earlier article, that long-term resistance level is likely to inspire a lot of profit-taking that might unwind the cryptocurrency’s gains. Price is still trending higher on the daily chart, though, and bulls might be eager to hop in the climb at these bargain prices. Technical Indicators Signals. The 100 SMA is....
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Bitcoin price has its sights set much higher and is making another push past the ascending channel resistance for a sharper climb. Bitcoin Price Key Highlights. Bitcoin price is still trading inside the ascending channel illustrated in an earlier article, signaling that bullish momentum is in play. Traders have been waiting for a decent pullback to reestablish long positions but it seems that the correction was pretty shallow. Price found support at $1050 before making another attempt to break past the channel resistance. Technical Indicators Signals. The 100 SMA is still on the 200 SMA on....
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 zoomed up to the $1000 area after breaking above consolidation, signaling a return in bullish momentum. Bitcoin Price Key Highlights. Bitcoin price finally made a break out of its tight consolidation pattern highlighted in the previous article. Price made an upside break and went all the way up to the next ceiling at $1000 as expected. Weakness in US markets is starting to take effect on bitcoin price as talks of currency devaluation swirled. Technical Indicators Signals. The 100 SMA is still above the 200 SMA on the 1-hour time frame, narrowly avoiding a downward crossover.....
Rubycoin Price Technical Analysis. Rubycoin price is in the middle of a correction but it looks like the pullback is already over, as the 50% Fibonacci retracement level is holding as strong resistance. This retracement level lines up with a former support level, making it an area of interest and likely resistance. Rubycoin price has made a sharp selloff recently and might be done with its retracement from the move, allowing sellers to regain control. Spinning top at resistance? A spinning top reversal candlestick has formed on the latest pullback, hinting that price could turn a corner. A....
Bitcoin price appears to be pulling back to the broken channel support before carrying on with its downtrend. Bitcoin Price Key Highlights. Bitcoin price recently broke below an ascending channel support visible on the 4-hour time frame and a pullback is happening. Price could make a retest of the broken channel support before heading further south and resuming its selloff. Bitcoin price fell sharply last week when top exchanges in China halted client withdrawals following a meeting with authorities. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the....