Ascending channel Bitcoin price breakout possible despite OKEx scandal

Ascending channel Bitcoin price breakout possible despite OKEx scandal

Bitcoin price lost the bullish energy that took the price to $11.7K earlier this week but the current range may offer opportunities to swing traders. Earlier this week Bitcoin (BTC) price entered a bullish breakout to $11,725 following the previous week’s news that Square purchased $4,709 BTC but since then the price has slumped back into a sideways range. Several rejections near $11,500 and the recent news of OKEx halting all withdrawals as its CEO ‘cooperates’ with an investigation being carried out by Chinese authorities is also weighing on investor sentiment and Bitcoin price.....


Related News

Bitcoin Price Technical Analysis for 11/08/2016 – Careful of US Election Breakouts!

Bitcoin price is stuck in a tighter consolidation pattern, which could set the tone for an even more explosive breakout. Bitcoin Price Technical Analysis. Bitcoin price is starting to form a new ascending channel after its previous breakdown. The consolidation is noticeably tighter these days, which suggests that price could be gearing up for a strong breakout. The US elections would likely have a strong impact on financial market sentiment and dollar price action. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA so the path of least resistance is now to....

Bitcoin Price Technical Analysis for 12/08/2016 – Small Channel Sighted!

Bitcoin price is treading sideways in a narrow and shallow ascending channel visible on the short-term charts. Bitcoin Price Key Highlights. Bitcoin price is still moving in tight consolidation as traders might be holding out for stronger directional clues. Price is trading inside a narrow ascending channel visible on its 1-hour chart. Bitcoin is going for a test of the channel support and might be in for a climb back to the top, unless a breakout happens. Technical Indicators Signals. The 100 SMA is moving close to the 200 SMA and could be in for a downward crossover to show that sellers....

Bitcoin Price Technical Analysis for 10/11/2016 – New Channel to Watch!

Bitcoin price is trading inside an ascending channel pattern and might be due for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price is trending higher once more, forming higher lows and higher highs inside an ascending channel pattern on the 1-hour chart. Price is currently testing the channel resistance and might be due for a slide back to support. Volatility has picked up again recently so stronger moves and potential breakouts could be seen. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame, signaling that the path of least....

Bitcoin Price Technical Analysis for 11/01/2016 – Another Channel Bounce

Bitcoin price is resuming its climb after testing the bottom of the ascending channel visible on the 1-hour chart. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher on its 1-hour time frame, moving on a sharper ascending channel than before. Price just bounced off the channel support and seems to be setting its sights on the resistance around $740-750. Technical indicators are suggesting that further gains are in the cards. Technical Indicators Signals. The 100 SMA is safely above the longer-term 200 SMA on this time frame, confirming that the path of least resistance....

Bitcoin Price Technical Analysis for 05/16/2016 – On Track Towards Channel Resistance

Bitcoin price is still trending higher on its short-term time frames, moving inside an ascending channel on its 4-hour chart, but risk sentiment could trigger a breakout. Bitcoin Price Key Highlights. Bitcoin price is still trending higher on its short-term time frames, moving inside an ascending channel on its 4-hour chart. Price has bounced off the channel support and 100 SMA earlier on and is slowly making its way up to the top again. Sustained buying pressure could take bitcoin price back up to the channel resistance at the $465-470 levels, which line up with a longer-term ceiling.....