Technical Indicators Show Strong Bitcoin Bullishness – New ATH On The Horizon?
Bitcoin has definitely performed on the bullish side for the past three weeks. Many investors are now convinced of the full return of bullish price actions, and various technical indicators support this surge in optimism. One such indicator is the hash ribbon, which highlights a positive price momentum for Bitcoin. Related Reading: Solana Set For 900% Rally With Breakout From This Pattern — Analyst The hash ribbon provides a compelling view of on-chain activity by tracking the behavior of miners, who are known to have a direct influence on the cryptocurrency’s price. Price Momentum....
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As the bitcoin price rally gets into high gear, technical indicators at the long, mid and short term levels suggest that there could be corrections on the horizon, after a continued rise to $820 USD. Let’s take a look at the indicators in the first installment of Bitcoinist.net’s new technical analysis series by Ramiro Burgos. Prices are breaking at every resistance placed by Gann Angles Theory, and also had left back the big triangle accomplishing all the technical objectives. Taking on all the historical prices data, Fibonacci numbers at the 50% zone would be reached at $670, and the....
Bitcoin price could be due for a bounce off this support zone and technical indicators appear to be in agreement. Bitcoin Price Key Highlights. Bitcoin price underwent additional volatility and sold off yesterday but it appears to be testing another support area. Price is forming an ascending channel pattern on its 1-hour time frame and might be due for a bounce towards the resistance. Technical indicators are also suggesting that buyers could regain control. Technical Indicators Signals. The 100 SMA is crossing above the longer-term 200 SMA to confirm that the uptrend could carry on. In....
Bitcoin price has been crawling slowly higher as bulls are looking exhausted but are refusing to let up. Bitcoin Price Key Highlights. Bitcoin price is still on its uptrend, moving inside what appears to be either a rising wedge or an ascending channel on its 1-hour chart. Price is in the middle of the formation but looks ready for a test of support. Technical indicators are suggesting that the climb could carry on. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. Also, the gap between the moving averages is....
Bitcoin price is consolidating inside a symmetrical triangle formation, possibly gearing up for a strong breakout. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle pattern visible on its short-term chart. Price is currently testing support and might be due for a bounce back to the resistance. Technical indicators are giving mixed signals, although a downside break seems possible. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the....
Bitcoin price is stalling at a strong area of interest visible on the long-term charts, with indicators suggesting that the resistance could hold. Bitcoin Price Key Highlights. Bitcoin price is consolidating on its short-term time frames and for good reason. Price is actually testing a major area of interest at $645-650, as this held as support in the past and could keep holding as a ceiling. Technical indicators on the longer-term charts are giving mixed signals at the moment. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the daily time frame, showing that....