Bitcoin Price Technical Analysis for 01/11/2017 – Bullish Channel Forming
Bitcoin price is stuck in consolidation but a small bullish channel can be seen on its short-term time frames, offering opportunities to catch the climb. Bitcoin Price Key Highlights. Bitcoin price is slowly treading higher, following a small bullish breakout seen earlier. Buyers seem to be putting up a strong fight but are still hesitant to pile on large positions due to potential Chinese government regulation. Price is currently testing support and might be due for a quick bounce to the resistance. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of....
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Litecoin Price Key Highlights. Litecoin price has been gradually trending higher against the U. S. dollar, mostly due to the latter's selloff in recent trading sessions. Price is currently testing the bottom of the ascending channel visible on its short-term time frame and might be due for a bounce. Litecoin price is on a steady uptrend these days and could be in for a much stronger bounce, as it is testing the rising channel support. Bullish divergence forming. Litecoin price has been forming higher lows while technical indicators drew lower lows, creating bullish divergence for both RSI....
Bitcoin price could be due for a bounce off this support zone and technical indicators appear to be in agreement. Bitcoin Price Key Highlights. Bitcoin price underwent additional volatility and sold off yesterday but it appears to be testing another support area. Price is forming an ascending channel pattern on its 1-hour time frame and might be due for a bounce towards the resistance. Technical indicators are also suggesting that buyers could regain control. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to confirm that the uptrend could carry on. In....
Bitcoin price seems to be exhausted from its climb and might need to pull back to the channel support before heading further north. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, trading inside an ascending channel pattern on its 4-hour time frame. Price is still consolidating close to the channel resistance with a bullish continuation pattern forming. An upside break from this flag formation could lead to a sharper climb while a downside move could lead to a test of the channel support. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on....
Bitcoin price could be due for a test of the ascending channel resistance visible on its 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price recently sold off but found support around the $650 area as predicted in an earlier article. This was in line with the 200 SMA, which held as a dynamic support level. Bullish pressure seems to be building up again as an ascending channel is forming. Technical Indicators Signals. Bitcoin price made a quick spike on its test of the channel support, indicating that buyers are putting up a fight and ready to push price back up to the top of the....
Bitcoin price is still safely inside its ascending channel, with technical indicators confirming that the climb could carry on. Bitcoin Price Key Highlights. Bitcoin price continues to tread higher slowly, moving inside an ascending channel pattern visible on its 1-hour chart. Price just tested the channel resistance on a new wave higher and might be on its way towards testing support. Technical indicators also seem to be warming up to the idea of an uptrend in bitcoin price. Technical Indicators Signals. The 100 SMA is attempting to cross above the longer-term 200 SMA to indicate that the....