TA: Here’s Why Bitcoin Price is Signaling Upside Continuation To $65K

Bitcoin price is showing positive signs above the $40,000 level against the US Dollar. BTC is likely to continue higher above $41,000 and $41,500 in the near term. Bitcoin started a fresh increase above the $38,500 and $40,000 resistance levels. The price is currently well above $38,500 and the 100 hourly simple moving average. There […]

Bitcoin Price Key Highlights. Bitcoin's price is stuck in a consolidation pattern once more, as bulls are taking a break from their recent strong rally. This type of consolidation pattern has already been seen in the past, with Bitcoin's price making an upside breakout from the bullish continuation signal. The Bitcoin price has formed a bullish flag pattern on its 1-hour time frame, which suggests that more buyers could join the game once an upside breakout occurs. How High Can It Go? The mast of the bullish flag continuation pattern is approximately $30 in height, spanning from $395 to....

Following a breakout over $700 last week, the market has since been on a tear to the upside as late longs struggle to re-enter below $1000. This is not to say that it has been smooth sailing considering we have seen a few 5 percent pullbacks since the rally began, however, these have been quickly brought up and thus have been short-lived. As Bitcoin continues to push to new highs this December, we can’t help but think about what we mentioned in our previous update. In addition to what appears to be a demand spike caused by global macro worries, the price action since the breakout above....

Bitcoin price looks ready continue is dive on a break of this bearish continuation pattern, with technicals signaling further declines. Bitcoin Price Key Highlights. Bitcoin price recently made a sharp break below a short-term consolidation pattern, which means that sellers have taken control. Price seems to have formed a bearish continuation signal as more sellers could take it down. Technical indicators are also confirming that selling pressure is mounting. Technical Indicators Signals. The 100 SMA is moving below the longer-term 200 SMA, confirming that the path of least resistance is....

Bitcoin price climbed higher this past week. And, looking at the current market sentiment there is a chance of more upsides in the short term. Major Support Level may be $422. Major Resistance Level can be $435. Bitcoin price enjoyed a decent upside move this past week, as buyers were successful in taking it above the $400 resistance area. The stated level acted as a hurdle for them on many occasions, and a weekly close above it means a lot of optimism. The price traded a few points above the $430 level, and it looks like the price may trade down or correct in order to gain bids in the....