Bitcoin Price Technical Analysis for 01/12/2017 – Bears Gaining Traction

Bitcoin price made a downside break from its ascending channel pattern, signaling that a reversal is about to take place. Bitcoin Price Key Highlights. Bitcoin price was previously trading inside an ascending channel before making a break lower, indicating a reversal from the short-term uptrend. Price also broke below the nearby inflection points, which means that sellers are gaining traction. For now, technical indicators are suggesting that the uptrend might still carry on but that could change soon. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA so the....

Bitcoin price looks ready for a selloff but a quick correction from the breakdown might take place first, giving bears a better entry point. Bitcoin Price Key Highlights. Bitcoin price recently broke below the ascending channel support, signaling that a reversal from the uptrend is about to take place. Price bounced off the $660 area and appears to be making a correction from here. Bitcoin could retest the broken support around the $670-675 levels before resuming its slide. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA for now so the path of least....

Bitcoin price is establishing a new downtrend after breaking below an area of interest. More bears are waiting at this retest of the broken support. Bitcoin Price Key Highlights. Bitcoin price recently broke below an area of interest marked in an earlier article, indicating that a downtrend might be due. Price is now pulling back up to this area for a retest before gaining more traction in its selloff. If the near-term resistance holds, bitcoin price could make its way back down to the recent lows at $685. Technical Indicators Signals. The 100 SMA is still above the 200 SMA for now but the....

Neucoin Price Key Highlights. Neucoin price has been moving sideways both on its short-term and long-term time frames, as buyers and sellers can't establish a strong direction. Zooming in to the short-term time frame reveals a tight range from 0.0000210 to 0.0000225. Neucoin price could be due for a breakout soon, as technical indicators favor further downside. Bears to Gain Traction? Stochastic is already indicating oversold conditions for quite some time, signaling that bearish pressure is building up. Once the oscillator starts turning south, neucoin price could follow suit and break....

Potcoin Price Key Highlights. Potcoin price has been gradually trending lower, breaking below a short-term consolidation pattern and area of interest. This breakdown suggests that new lows are in sight, potentially leading to a test of the floor at 0.00000200. Potcoin price doesn't seem to have bottomed out yet, as the recent breakdowns indicate that bears are very much in control. Bearish pressure piling up. The 100 SMA is below the 200 SMA, which confirms that the downtrend is likely to carry on. Furthermore, the short-term moving average is edging further away from the longer-term SMA,....