Bitcoin Price Technical Analysis for 01/16/2017 – Pulling Out of the Drop?
Bitcoin price seems exhausted from its dive and might be looking to start a climb once more. Bitcoin Price Key Highlights. Bitcoin price was previously trading inside a descending channel visible on its 1-hour time frame but bulls seem to be putting up a fight. Price is starting to break out of its downtrend pattern, signaling that an uptrend might be in the cards. Stronger bullish pressure could push price past the next inflection points and onto the January 5 highs. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to the....
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Bitcoin price has been pulling up recently but is still under heavy selling pressure, especially once this correction is completed. Bitcoin Price Key Highlights. Bitcoin price is pulling up from its recent selloff after breaking below a rising trend line visible on the 4-hour chart. Price could be due for a retest of the broken support area before resuming its drop, possibly creating a head and shoulders pattern. A break below this formation’s neckline around $880-900 could serve as a stronger signal for a downtrend. Technical Indicators Signals. The 100 SMA is safely below the longer-term....
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....
Bitcoin price continues to tread lower as Chinese regulators make moves to investigate cryptocurrency exchanges and clients in the country. Bitcoin Price Key Highlights. Bitcoin price is showing no signs of pulling up from its dive, as it went on another wave lower and could be in for more declines. A descending trend line can be drawn to connect the highs of price action, with the resistance level lining up with a former support area. Price could pull up to this area of interest before resuming its slide. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on the....
Bitcoin price has failed to maintain advance after putting in a strong surge two days ago. While this does not yet look like a return to decline, price may correct deeply before returning to the upside. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h00 UTC. OKCoin 3Mth 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Our xbt.social Buy trade was closed at 00h00 UTC by price pulling below the 1-hour 20MA, by more....
Bitcoin price is pulling up from its sharp drop but could encounter resistance at the nearby inflection points. Bitcoin Price Key Highlights. Bitcoin price recently made a sharp selloff, breaking below a short-term floor around $620 and bouncing off the $570 area. Bearish momentum could still be in play, although a correction to the broken support seems imminent. Technical indicators are also suggesting that the selloff could resume at some point. Technical Indicators Signals. The 100 SMA is starting to cross below the longer-term 200 SMA to show that the path of least resistance is to the....