Bitcoin Price Technical Analysis for 02/07/2017 – Another Consolidation Breakout?

Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....

Bitcoin price is still moving in tight consolidation, but this appears to be a continuation signal from the previous strong move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, as traders are waiting for bigger market catalysts before deciding which direction to take. Keep in mind that bitcoin just recently made a strong rally, which makes the consolidation pattern a bullish flag. Technical indicators seem to be suggesting that an upside breakout is likely. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame,....

A technical analysis chart of bitcoin prices suggests that the digital currency’s value is likely to shoot higher. Technical Analysis Shows A Pennant. The technical analysis chart of Bitstamp’s recent closing prices, originally published on Sober Look, shows that a triangular pattern known to technical analysts as a pennant has formed. Can a Pennant....

Bitcoin price made an upside breakout from its symmetrical triangle but failed to sustain the climb, which suggests that consolidation could still stay in play. Bitcoin Price Key Highlights. Bitcoin price recently broke above a short-term consolidation pattern, possibly signaling its intention to head further north. However, price pulled back to the broken resistance just as quickly so the breakout may have been a result of a squeeze rather than a directional catalyst. Scrolling further back reveals that bitcoin price could be ranging between $960 to $1000. Technical Indicators Signals.....

Bitcoin price is stuck in a symmetrical triangle consolidation pattern for now and its breakout could set the tone for long-term action. Bitcoin Price Key Highlights. Bitcoin price consolidation has been getting tighter in the past few days as traders remain wary of ongoing industry changes. On the 1-hour time frame, a symmetrical triangle can be seen with price approaching the peak of the formation. A break past the triangle resistance around $930 could spur a longer-term climb while a move below support at $920 could trigger a selloff. Technical Indicators Signals. The 100 SMA is below....