Bitcoin Price Technical Analysis for 05/12/2016 – Bearish Flag Pattern?
Bitcoin price is consolidating inside a bearish flag formation, coming from a previous sharp selloff and possibly indicating another drop. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance could still be to the upside. However, the gap between the moving averages is narrowing so a downward crossover could take place and allow bears to jump in. A break below the short-term rising trend line connecting the lows since May 10 could be an early signal that bearish pressure is back. On the other hand, a move past the $456 near-term resistance could indicate that....
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A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Potcoin Price Key Highlights. Potcoin price continued to trade inside a flag pattern as highlighted in one of the recent technical analysis. Both buyers and sellers seem to be struggling to take the price in one particular direction, which created a range inside the flag pattern. A few technical indicators are pointing towards more losses and a break below the flag pattern. Potcoin price is trading inside a range and it looks like heading towards a break, waiting for a catalyst. Break Down? As mentioned in the previous analysis, there was a sharp decline noted in the Potcoin price which....
The Bitcoin price crash to $91,000 was unexpected, driven by diminishing market dominance and rising volatility. Despite this setback, an analyst predicts an even bleaker outlook for the leading cryptocurrency. The formation of a bearish flag pattern suggests further price declines could be on the horizon, with the analyst projecting a steeper price plunge towards $90,000. Bearish Flag Pattern Signal Bitcoin Price Crash Pejman Zwin, a TradingView crypto analyst, released a chart analysis predicting a significantly bearish outlook for the Bitcoin price. The analyst based this gloomy....
Litecoin price may trade higher in the near term. However, it won’t be a wise call to buy Litecoins as the trend still remains down. Intraday Support Level (HitBTC) may be at $3.00. Intraday Resistance Level can be around $3.10. Litecoin price was under a lot of bearish pressure recently, as it traded down and even spiked below the $3.0 handle. The price started a minor recovery yesterday, and there was a flag pattern formed on the 2-hours chart with the data feed from HitBTC, as highlighted in yesterday’s post. The best part is that the price managed to spike above the highlighted flag....
Potcoin Price Key Highlights. Potcoin price is still consolidating on the short-term time frames and zooming out to the daily chart shows that a bearish flag formation has formed. Sellers are hesitating to push price below the current support levels, as this lines up with the bottom of a longer-term triangle formation visible on the daily time frame. Potcoin price could make a move towards the actual triangle support on a break below the current bearish flag pattern. Bounce still possible? A break above the bearish flag pattern is still possible, though, potentially spurring a large....