Bitcoin Price Analysis: BTC/USD Bullish Continuation Signal?

MinerGate is a multicurrency mining pool with the easiest mining software, reliable 24/7 support service and helpful community at your disposal. Start mining now from your PC

Bitcoin recently busted through the top of the descending triangle on the 4-hour time frame and is forming a bullish flag pattern to signal that a continuation of the climb is due.

The 100 SMA crossed above the longer-term 200 SMA to indicate that the path of least resistance is to the upside or that the climb is more likely to gain traction. In addition, the 100 SMA is close to the broken triangle top to add to its strength as potential support around $11,000 in the event of a retest.


Source link

Related Posts

  • 76 BTC, ETH/ Technical analysis price forecast 29 jan Hello! I make Bitcoin, XRP (Ripple) & other crypto technical analysis price predictions based on charts.
    Tags: analysis, price, bitcoin
  • 61
    Bitcoin is still stuck inside a short-term descending channel as it trades around the middle of its symmetrical triangle on the 4-hour time frame. A break higher could confirm the bullish flag formation and take it to the triangle top around $4,000.The 100 SMA has crossed above the longer-term 200…
    Tags: bitcoin, upside, sma, triangle, resistance, top, $, crossed, longer-term, indicate
  • 60
    Bitcoin appears to have broken out of its double bottom formation visible on the 1-hour time frame as the price busted through resistance around $8,750. This could set off a climb that’s at least the same height as the chart formation. The reversal pattern spans $8,250 to $8,750 so the…
    Tags: $, sma, price, resistance, bitcoin, pattern, link, source, traction, gain
  • 58
    Bitcoin appears to have completed its bullish breakout from the symmetrical triangle pattern visible on the 4-hour time frame. Price has also bounced off a quick retest to the broken resistance.This suggests that Bitcoin could be due to resume its longer-term climb that might last at least the same height…
    Tags: bitcoin, $, triangle, sma, longer-term, price, bullish, add, source, climb
  • 58
    Bitcoin recently made a bullish break from a symmetrical triangle consolidation pattern to signal that a long-term climb is due. Price also seems to have completed a retest of the broken resistance, so bulls could take it up to the next upside targets marked by the Fib extension tool.The 100…
    Tags: bitcoin, upside, resistance, sma, price, bullish, traction, gain, longer-term, source
READ MORE  The Daily: Coffee Company to Pay Farmers in Bitcoin, Bitfurys Latest Investment

Leave a Reply

Your email address will not be published. Required fields are marked *