Bitcoin Price Technical Analysis for 02/20/2017 – Waiting for More Bulls

Bitcoin Price Technical Analysis for 02/20/2017 – Waiting for More Bulls

Bitcoin Price Key Highlights Bitcoin price recently broke past the resistance at $1000, signaling that it’s ready to resume its climb. Price is pulling back to this area of interest, at which plenty of buy orders might be located. Technical indicators are also signaling that more gains are in the cards. Bitcoin price seems to be regaining its ground as it traded back above $1000 and is gearing up for a pullback from its climb. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. In addition, bitcoin price is nearing the 100 SMA, which might already hold as dynamic support keep losses in check. A larger correction could last until the 200 SMA dynamic inflection point, which is closer to...

Bitcoin Price Technical Analysis for 02/17/2017 – The Bullish Struggle is Real

Bitcoin Price Technical Analysis for 02/17/2017 – The Bullish Struggle is Real

Bitcoin Price Key Highlights Bitcoin price recently broke past the symmetrical triangle consolidation resistance visible on its short-term time frames. Price made a push higher but bulls still seem to be struggling to maintain the momentum. This could be indicative of bitcoin price action from here as the lack of liquidity has yielded lower volatility. Bitcoin price is struggling to establish its uptrend but the lack of market liquidity is preventing it from gaining stronger bullish traction. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA on this time frame so the path of least resistance is to the downside, but the gap between the moving averages is narrowing so an upward crossover might be due. In that case, bulls could step up their...

Bitcoin Price Technical Analysis for 02/16/2017 – Upside Breakout and Pullback

Bitcoin Price Technical Analysis for 02/16/2017 – Upside Breakout and Pullback

Bitcoin Price Key Highlights Bitcoin price recently broke above a short-term consolidation pattern, possibly signaling its intention to head further north. However, price pulled back to the broken resistance just as quickly so the breakout may have been a result of a squeeze rather than a directional catalyst. Scrolling further back reveals that bitcoin price could be ranging between $960 to $1000. Bitcoin price made an upside breakout from its symmetrical triangle but failed to sustain the climb, which suggests that consolidation could still stay in play. Technical Indicators Signals The moving averages are oscillating on this time frame, which means that ranging market conditions could persist. In the event that a downward or upward crossover materializes,...

Bitcoin Price Technical Analysis for 02/15/2017 – Consolidation Alert!

Bitcoin Price Technical Analysis for 02/15/2017 – Consolidation Alert!

Bitcoin Price Key Highlights Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle consolidation pattern on its 1-hour time frame. Price is approaching the peak of the pattern so a breakout could be due soon. Technical indicators are giving mixed signals at the moment, but fundamentals suggest that the path of least resistance is to the downside. Bitcoin price is consolidating pretty tightly in a symmetrical triangle and a breakout in either direction could take place soon. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA on the 1-hour time frame so the path of least resistance is to the downside. In addition, the 100 SMA seems to be holding as a dynamic inflection point for the time being, although a move...

SimpleFX – Tread Forex Waters Using Bitcoin

SimpleFX is one of the most popular and advanced Forex trading website which offers the biggest leverage options on the market. It is amongst the many Forex brokers accepting Bitcoin, giving the Bitcoin holders protection against Bitcoin volatility . SimpleFX is also one of the best trading platforms for crypto users. The site features a total of 60 currency pairs, alongside instruments from indices, commodities, and precious metals market. There are 15 base currencies out of the said currency pairs, which also includes Bitcoin and Litecoin. The platform relies on award-winning third-party companies like MetaTrader 4 and WebTrader for an amazing trading experience for all its clients. SimpleFX  in a bid to meet the varying requirements of traders when it comes to...