Bitcoin Price Technical Analysis for 02/14/2017 – Short-Term Channel Resistance
Bitcoin price is moving inside a descending channel on its 15-minute time frame and is currently testing resistance. Bitcoin Price Key Highlights. Bitcoin price volatility has been subdued these days as traders are waiting with bated breath on developments in China. A few days back, top exchanges were prompted to halt client withdrawals in compliance with the government’s anti-money laundering crackdown. Bitcoin sold off sharply and is now trending lower on short-term time frames. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on this time frame so the path of....
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Bitcoin price is slowly making its way down, moving inside a descending channel on its short-term time frames. Bitcoin Price Key Highlights. Bitcoin price seems to have broken below the descending triangle pattern illustrated in an earlier article. Price is establishing short-term downside momentum from here, creating a descending channel visible on the 1-hour chart. Price just bounced off the channel support and could be due for a test of resistance at $930. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside.....
Bitcoin price could be ready to resume its selloff upon testing the descending channel resistance visible on its short-term charts. Bitcoin Price Key Highlights. Bitcoin price is still trending lower on its short-term time frames, moving inside a descending channel on its 1-hour chart. Price is on a climb but might be due for a selloff soon since it is already near the ceiling at the channel resistance. A short-term double-top can be seen, also suggesting a reversal from the recent rally. Technical Indicators Signals. The 100 SMA is below the 200 SMA on this time frame, which means that....
Bitcoin price is hovering at the resistance of the short-term descending channel and could be in for a continuation or reversal. Bitcoin Price Key Highlights. Bitcoin price seems to be establishing a downtrend now that it’s forming a descending channel on its 1-hour time frame. Price is now testing the channel resistance, still deciding whether to make a bounce or a break. Technical indicators seem to be indicating that the selloff could resume but there are also potential arguments for a reversal. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of....
Bitcoin price could be ready to resume its rally now that price is testing a support area seen on the short-term chart. Bitcoin Price Key Highlights. Bitcoin price sold off in the past few hours as profit-taking took place off the near-term resistance. Price is still trading safely inside an ascending channel visible on the 1-hour chart and is currently testing support. A bounce off this support area could take bitcoin price back up to the channel resistance at $1100. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this chart so the path of least resistance is....
Bitcoin price staged a strong rally to break past the short-term channel top and aim for the longer-term resistance. Bitcoin Price Key Highlights. Bitcoin price enjoyed a boost in volatility yesterday, allowing it to break past the short-term channel resistance. Price is now making its way to the top of a longer-term bullish channel visible on the 4-hour time frame. Technical indicators are also suggesting that buying pressure could be in for the long run. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to show that buyers are taking control of bitcoin....