Bitcoin Price Technical Analysis for 02/03/2017 – Watch Out for Profit-Taking!
Bitcoin price looks poised for more gains but upcoming market events could spur profit-taking ahead of the weekend. Bitcoin Price Key Highlights. Bitcoin price continues to push higher after signaling strong upside momentum. Price is testing the key resistance area around $1000 but has formed a bullish continuation pattern. Technical indicators are showing mixed signals but market catalysts suggest that profit-taking is possible. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the short-term time frames so the path of least resistance is to the upside. On the....
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Action has been a bit choppy in the bitcoin price over the last few days, but it hasn't stopped us drawing a profit from the market. Here's what we are looking at in today's European markets and beyond. Yesterday afternoon, our bitcoin price watch article highlighted a bunch of key levels, and in the article, we were able to define a classical pattern that suggested – from a technical perspective, at least – we were set for a continuation of the downside break we saw a little earlier in the day. A look at the action that succeeded our analysis shows a mixed response to our predictions. We....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s Thursday morning, and we are about to head into a fresh session out of Europe. In last night’s bitcoin price analysis, we noted that price had broken to the upside and that – as a result – things looked good for some further upside momentum. We tentatively slated 800 as a level to watch on the horizon, with that being the next major psychological target, but we also pinned a couple of nearer term levels as being ones to watch, with the goal of taking out a few profit targets on the way up to the big eight oh....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s bitcoin price watch analysis, our primary intent was to get across the importance of keeping things tight during the European session. Price has struggled to make any sort of sustained moves over the last few days, and while we have seen the odd spike, there has been no real trend momentum. The only way we are able to draw a profit from these sorts of market conditions is through a tight scalp strategy – that is, jumping in and out of the markets on the spikes and taking advantage of the action as....
Bitcoin price is retreating upon reaching its yearly highs but bulls could be ready for another push higher after this pullback. Bitcoin Price Key Highlights. Bitcoin price reached the yearly highs around $780 and profit-taking happened as predicted in the previous article. Price is now making a pullback from its recent rally and could encounter more bulls who are waiting at the next area of interest. Technical indicators are confirming that the uptrend could resume once the correction is completed. Technical Indicators Signals. The 100 SMA just crossed above the longer-term 200 SMA to....
Bitcoin Price Key Highlights. Bitcoin price has been on a steady decline, erasing most of its sudden gains from earlier in the month. Although bears still seem to be in control, selling pressure could fade once bitcoin price hits support at the $300 mark. Bitcoin price could be due for a quick bounce if profit-taking takes place around the nearby major support zone. Breakdown Possible? Technical indicators seem to be indicating that bearish momentum could stay in play for much longer, as the short-term 100 SMA is below the longer-term 200 SMA. Stochastic is pointing down once more, after....