Bitcoin Price Technical Analysis for 02/16/2017 – Upside Breakout and Pullback
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.....
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Bitcoin price followed through with its consolidation breakout and sustained its climb. Bitcoin Price Key Highlights. Following the recent upside breakout from the symmetrical triangle pattern, bitcoin price continued to climb as predicted in the earlier post. Price has now made its way to the triangle highs around $780 and is showing increased buying pressure to form new highs. Technical indicators are giving mixed signals at the moment, but it looks like the odds are in favor of more bullish action. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least....
Bitcoin price broke out of its triangle consolidation pattern, indicating that bulls are ready to take control once more. Bitcoin Price Key Highlights. Bitcoin price was previously stuck inside a symmetrical triangle consolidation pattern as bulls and bears were in a tight race. Bulls eventually won out as price made another upside breakout, following the previous break higher on an earlier triangle formation. This puts bitcoin price on track towards testing the $800 handle, which might spur profit-taking once more. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
Since making a low on the month just above 216 bitcoin rebounded to 230 and start coiling as we can see in the 1H chart. Towards the end of April 21st session, btcusd started to uncoil upwards. Let's take a look at the charts: Bitcoin (BTCUSD) 1H Chart April 22. As we can see in the 1H chart, bitcoin not only broke above a triangle, it also charged above the 230 resistance. There was strong volume, and the 1H RSI popped up above 80. The price action suggests that the bullish breakout is very likely to extend. In the very near-term however, the RSI is overbought, so we can expect some....
Bitcoin price has shown strong upside momentum over the past few weeks and might be eyeing a test of these next ceilings. Bitcoin Price Key Highlights. Bitcoin price made another break higher over the weekend, indicating strong bullish momentum. Price is now testing another long-term area of interest around $700, at which either profit-taking or another upside breakout might be seen. Technical indicators are hinting that the rallies could pause but it would be helpful to look at the next potential resistance levels. Technical Indicators Signals. The 100 SMA is above the 200 SMA for now so....