Bitcoin (BTC) is stuck in a narrow $550 range between the key long-term moving averages today, but may be prepping for a breakout, the technical charts suggest.With the bull/bear bias now unclear, the big problem now is trying to work out in which direction the price will go.As of writing, BTC is changing hands at $8,760 on Bitfinex, and is trading between the 50-day moving … [Read more...] about Bitcoin Price Eyes Breakout as Trading Range Tightens
Breakout
Bitcoin Awaits Price Breakout As Trading Range Tightens
The trading range's lower end is $6,341, a double bottom neckline (former resistance-turned-support), which was scaled on June 30. Meanwhile, $6,754 (a 23.6 percent Fibonacci retracement of the sell-off from $9,990 to $5,755), which put brakes on BTC's rally earlier this week, marks the upper end of the trading range. Source link … [Read more...] about Bitcoin Awaits Price Breakout As Trading Range Tightens
Ethereum price risks losing $4K on ‘rising wedge’ breakout fears
A selloff in Ether (ETH) on Nov. 16 has increased the chances of ETH's price falling below $4,000.ETH plunged 10% to around $4,100 on Tuesday, amid an ongoing market correction led by Bitcoin (BTC). In doing so, Ether dropped below its fourth-quarter upward trendline support. ETH/USD daily price chart. Source: TradingViewETH/USD also tested its 50-day exponential moving average … [Read more...] about Ethereum price risks losing $4K on ‘rising wedge’ breakout fears
Bitcoin’s Bull Flag Breakout Suggests More Upside; Support at $57K
Bitcoin bounced to $66,000 on Monday, partially erasing the losses from last Wednesday. Technical charts signal an impending boost from a bullish continuation pattern.“BTC has broken out of the Flag pattern, and buying momentum is expected to continue,” MintingM, a Mumbai-based crypto asset management company, said in its weekly market report. “Bitcoin could break the … [Read more...] about Bitcoin’s Bull Flag Breakout Suggests More Upside; Support at $57K
Bitcoin Breakout May Have Further to Run, Altcoins Also to Gain, FSInsight Says
Bitcoin’s breakout above $63,300 on Monday to an all-time high is “constructive technically” and we should see prices rise to $72,000 initially and then $77,600, according to FSInsight, a markets strategy and research firm.FSInsight notes that bitcoin momentum isn’t overbought yet on daily or weekly timeframes.Read more: Bitcoin Soars Past $68K for the First Time as Ether Also … [Read more...] about Bitcoin Breakout May Have Further to Run, Altcoins Also to Gain, FSInsight Says