Bitcoin Price Technical Analysis for 01/18/2017 – Bullish Channel Intact!
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....
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Bitcoin price could keep going for gains as the bullish channel on the short-term charts is staying intact. Bitcoin Price Key Highlights. Bitcoin price is still trending higher, moving inside a short-term bullish channel on its 15-minute time frame. Price is hovering around the middle of the channel, still deciding whether to make a test of support or climb back to the resistance. Technical indicators are suggesting that the uptrend could carry on. Technical Indicators Signals. The 100 SMA is above the 200 SMA on this time frame, confirming that the path of least resistance is to the....
Bitcoin price is slowly crawling higher with the rising channel still intact, but a downside break and reversal might be looming. The 100 SMA is below the 200 SMA for now so the path of least resistance might be to the downside. However, an upward crossover appears to be taking place to show a pickup in bullish strength. If so, bitcoin price could make a stronger attempt to rally towards the channel resistance. Stochastic is making its way down from the overbought level to show a return in bearish pressure. RSI is also heading south so bitcoin price might follow suit. In that case, price....
Bitcoin price might encounter near-term resistance at the top of the rising channel but the overall uptrend remains intact. The 100 SMA is above the 200 SMA so the path of least resistance is to the upside. If bullish pressure is strong enough, bitcoin price could even go for an upside break of the channel resistance, spurring a stronger rally for the virtual currency. RSI is treading sideways, indicating that consolidation could carry on and that buyers and sellers are still undecided. However, stochastic is already indicating overbought conditions so a selloff might take place sooner or....
Bitcoin price could be ready for another bounce off the channel support as the bullish trend goes on. Bitcoin Price Key Highlights. Bitcoin price is still inside that ascending channel on its 1-hour time frame, bouncing off support as suggested in the earlier article. Price just got rejected on its test of the channel resistance once more, putting it back on track towards testing support. Technical indicators are suggesting that a pullback could take place but that the bullish trend could continue. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of....
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....