TA: Bitcoin Prints Bullish Pattern, Why Break Above $16K Could Be Significant

Key Highlights. Litecoin's price continued to move higher intraday, and our buying idea yesterday was successful. Now, a bullish flag pattern is forming on the hourly chart (data feed from HitBTC), which may ignite another upside rally. A break above the flag resistance area could take the price higher towards $4.00-05 in the near term. Litecoin's price is trading with a bullish bias, and there is another pattern forming which may help buyers to take it even higher. Break Higher? Litecoin price followed a nice uptrend on the 1-hour chart, and it looks like there is more upside left moving....

Ethereum is gaining bullish momentum above $375 against the US Dollar. ETH price is showing positive signs and it might even climb above the $385 resistance. Ethereum started a fresh upward move after forming a support base near $368. The price is now trading well above the $375 level and the 100 hourly simple moving […]

Ethereum corrected lower below $1,750 against the US Dollar. ETH remained well bid above $1,680 and is eyeing a fresh surge above $1,750. Ethereum is trading in a bullish zone above the $1,680 and $1,700 levels. The price is now trading near $1,720 and the 100 hourly simple moving average. There is a key bullish flag pattern forming with resistance near $1,730 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $1,750 to continue higher towards $1,850 in the near term. Ethereum Price Aims Higher Ethereum gained pace above the $1,700 and $1,720 levels. ETH even....

Bitcoin Price Key Highlights. Bitcoin'a price came from a strong rally then moved sideways in a tight consolidation pattern, indicating that bulls are taking a break before regaining momentum. Price is stuck inside a flag pattern for now and-given how the previous rally has been pretty strong and sustained-another break higher might be seen. Bitcoin's price could resume its climb once it is able to break above the bullish flag pattern on its short-term time frame. Where To Next? At the moment, the major psychological resistance at $400 holding really well, as several take-profit orders....

In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....