TA: Bitcoin Forms Bullish Pattern, Why Break Above $31.5K Is The Key
Bitcoin remained strong above the $29,500 support against the US Dollar. BTC could start a major increase if there is a clear move above the $31,500 resistance. Bitcoin started a fresh increase from the $29,500 support zone. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major upward move if there is a clear move above the $31,500 resistance. Bitcoin Price Reverses Losses Bitcoin price....
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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....
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....
It’s been a strange few days in the bitcoin price space. A number of fundamental developments seem to have reversed the negative general sentiment from the beginning of last week, and the bitcoin price looks to reflect this reversal. However, a look at the charts from a technical perspective suggests there could be some medium term weakness. We’ve detailed head and shoulders pattern before, but for our readers that haven’t come across these patterns in our analysis yet, they are a pretty common classical technical charting pattern used in more traditional financial asset trading. They come....
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....
Ethereum is holding gains above $1,750 against the US Dollar. ETH price is likely setting up for a crucial upside break above the $1,850 and $1,880 resistance levels. Ethereum is showing a few positive signs and it is trading nicely above $1,750. The price is now well above $1,750 and the 100 hourly simple moving […]