Bitcoin Price Technical Analysis for 01/31/2017 – Getting Really Tight!
Bitcoin price is currently squeezing in a tight consolidation pattern as liquidity has been dampened and traders are waiting for stronger catalysts. Bitcoin Price Key Highlights. Bitcoin price continues to tread sideways, consolidating in a symmetrical triangle visible on short-term charts. Zooming out to the 4-hour time frame shows that bitcoin price is still stuck in that area of interest that held as support or resistance in the past. Technical indicators seem to be signaling a downside break. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on the 4-hour chart....
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Litecoin has advanced following the lead of Bitcoin in the anticipation of a solution to the Greek crisis. While Bitcoin has staged a breakout, Litecoin's upside potential remains capped by a resistance line. Litecoin is currently trading up 0.97% at $3.019. I had mentioned in my previous analysis that Litecoin should be shorted if the price rose to $3.020, and I reiterate that short positions should be built by placing a stop-loss (closing basis) above $3.050. Technical analysis implemented on the 240-minute LTC-USD price chart indicates that the market is awaiting a trigger to make a big....
In the previous Litecoin price technical analysis Something Big is Coming!, we touched upon the triangle pattern formation, a breakdown from which is expected to resume the downtrend that the cryptocurrency is in. Litecoin is currently trading at $2.812, barely higher than its previous observation of $2.800. As Litecoin tests the patience of the market participants for another day, I would advise them to hold tight as an immediate breakout from the pattern is imminent. Litecoin Chart Structure - Not much has changed in the chart structure except that the range has contracted even further....
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.....
Litecoin falls 1 percent as Bitcoin extended its slide over the weekend. Now at $3.899, Litecoin is in a strong downtrend and price advances can be used to go short in the counter with tight stops in place. Technical analysis of the daily LTC-USD price chart conveys that pessimism still weighs on the cryptocurrency and good profits may be made on creating short positions at extremely low risks. But practicing the stop-losses is the key! Litecoin Chart Structure - The price chart conveys that Litecoin is trading in a lower top, lower bottom structure (marked in the chart), where repeated....
Bitcoin is trading flat as market looks to consolidate after a big fall. We discussed in our previous Bitcoin price analysis An Expected Decline that market participants should look to cover their short positions near $260. The cryptocurrency can be seen sustaining above this level. Bitcoin is now trading at $264.91, down 0.05 percent from yesterday. Technical analysis of the daily BTC-USD price chart once again reiterates that short covering may be the viable option at the current levels. 2 leading indicators are conveying that price may rise in the coming sessions. Bitcoin Chart....