Tag: triangle

Bitcoin Technical Analysis for 04/16/2016 – Broken Triangle

BTC has emerged from a broken triangle to the upside, which we had previously written about. Here is the long term picture on the daily chart: We are above all the downward sloping trendlines connecting the previous highs. On a shorter timeframe 4 Hr chart we also broke out of our recent triangle (see below). Using the height of the triangle the bulls target would be $500 see blue lines …
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Bitcoin Technical Analysis for 03/28/2016 – Triangle Pattern

In BTC/USD we have a triangle pattern holding us in a range pattern, it stretches back to November 2015. Unfortunately this pattern isn’t directional so traders shouldn’t establish bearish or bullish bias solely on this pattern. For example we have held the upper end of the triangle 4 times, which can be bearish or bullish depending on your analysis. The bears can say that price was held by the upper …
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Bitcoin Technical Analysis for 3/25/16 – Big Moves Ahead

The bears have been trying to push the price down all day, however, the support at $415 proved to be quite resilient as it handled dump after dump. After a low of $412 Bitcoin’s price quickly rebounded to the $416 levels, however another sell wave caused support to dip once again to theĀ $412 level. Currently Bitcoin is trading at $414 and is currently on a rebound from the support line. …
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