Key Points Bitcoin price surged higher during the past session against the US Dollar and broke a major resistance area. There is a major bullish trend line formed on the hourly chart (data feed from Bitstamp), which can act as a buy zone for the bulls moving ahead. If the price corrects from the current levels or moves down, then one may consider buying near the $420-415 support area. Bitcoin price is showing a lot of positive signs. If the current break in BTC/USD is not false, then more upsides are possible in the short term. Bitcoin Price Sighting Gains? Bitcoin price finally managed to pop higher, and the biggest positive was the fact that BTC/USD moved above a major resistance area of $420. Once the price broke the stated level, there was a spike towards…
Key Points Bitcoin price stayed in the bullish zone, and rebounded successfully after a minor dip towards the $413-412 support area. BTC/USD is currently attempting to break a bearish trend line on the hourly chart (data feed from Bitstamp). A break above the trend line and resistance area might set BTC for more gains against the USD. Bitcoin price remained above the 100 moving average, which a positive sign. Now can it gain pace and move above the $416-418 resistance area? Bitcoin Price Sighting Gains? Bitcoin price as stated in yesterday’s post showed a lot of positive signs and it continued to remain above a key support area of $410-415. As long as the price is above the stated levels, there is a chance of it gaining ground for a move towards $425 or may be…
Key Points Bitcoin price gained bids intraday and traded higher to settle above the $415 resistance area. The price is currently facing a major hurdle near the all-important $420 resistance area. There are many support areas formed on the downside on the hourly chart of the BTCUSD pair (data feed from Bitstamp). Bitcoin price gained intraday to trade near $418-420. Now, can BTCUSD continue trading higher as there are many supports formed on the downside? Bitcoin Price – Trend Lines Support Bitcoin price showed a lot of positive signs during the past few hours, and if we look at the short-term view, then BCTUSD was all bullish. However, can we consider it a change in the trend from bearish to bullish? Only time can tell, but looking at the higher timeframe chart,…
Key Points Bitcoin price may be forming a bearish structure against the US dollar in the near term. March outlook looks negative for the BTCUSD pair, as there is a contracting triangle pattern forming on the daily chart (data feed from Bitstamp) calling for a major break. The price is currently in the 5th wave and may complete near the triangle resistance area. Bitcoin price is eyeing for a break in March 2016. Let us see how it may trade during the remaining part of the week. Bitcoin Price – Break Down? Bitcoin price is trading in a range for the past couple of weeks, but if we look at the weekly chart, then we will know that BTCUSD is actually forming a breakout structure. There is a contracting triangle pattern forming on the daily chart (data feed from…
Key Points Bitcoin price dived yesterday against the US Dollar, but found support near the $405-03 levels. BTCUSD is currently moving higher, and attempting to break a short-term resistance near $412. There is a bullish trend line pattern formed on the hourly chart (data feed from Bitstamp), which can be seen as a support area for the bulls. Bitcoin price broke down yesterday, but managed to hold the $405-00 support area. Now can it recover or challenge $420 once again? Bitcoin Price – Buying favored Bitcoin price broke a channel pattern, which was highlighted in yesterday’s post. However, as I kept saying the $405-00 support area is a major barrier for the bears. The price found support around the same area yesterday, and recovered. The price managed to clear…