• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin
Nexo Logo

Bitcoin Price Analysis for 01/30/2017 – Triangle Breakout Due

newsbtc by newsbtc
5 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

Bitcoin Price Key Highlights

  • Bitcoin price consolidation has been getting tighter in the past few days as traders remain wary of ongoing industry changes.
  • On the 1-hour time frame, a symmetrical triangle can be seen with price approaching the peak of the formation.
  • A break past the triangle resistance around $930 could spur a longer-term climb while a move below support at $920 could trigger a selloff.

Bitcoin price is stuck in a symmetrical triangle consolidation pattern for now and its breakout could set the tone for long-term action.

Technical Indicators Signals

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The 100 SMA is below the 200 SMA for the time being so the path of least resistance is to the downside, but an upward crossover is brewing so buyers could regain control. However, these moving averages have also been oscillating for the past few days while consolidation has been in play.

Stochastic is on the move up to signal that buyers are in control of bitcoin price action for now. In that case, an upside breakout might have stronger probability compared to a break lower. Meanwhile, RSI is treading sideways and barely offering strong directional clues at the moment.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Market Events

Investors are still feeling anxious about developments in the Chinese bitcoin arena, which is the largest component of the market. Over the past few weeks, authorities have been cracking down on exchanges and clients, leading some firms to introduce restrictions on their products in order to make traders more aware about the risks involved and to dampen activity to some extent.

Further action from Chinese officials could weigh on bitcoin volumes in the country, which could exert additional downside pressure on prices. After all, investors have been gradually booking profits from their long positions from late last year and early this year for fear of being subject to government investigation.

Still, traders are also shying away from the dollar due to the ongoing uncertainty surrounding the Trump administration. With that, more consolidation could be expected in the coming days ahead of market catalysts such as the FOMC statement and US NFP release later this week.

Charts from SimpleFX

Tags: bitcoin pricebitcoin signalsbitcoin technical analysisbitcoin tradingbtcusd price
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

bitcoin

Outflows Rock Bitcoin As Institutional Investors Pull The Plug, More Downside Coming?

1 hour ago
Ethereum

TA: Ethereum Turns Red, Why ETH Must Hold This Key Support

14 hours ago
Bitcoin

TA: Bitcoin Dips Further, Why BTC Could Revisit $20K

15 hours ago
bitcoin bollinger bands

Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

21 hours ago
Bitcoin

First In History: Bitcoin Mayer Multiple Records Lower Value Than Last Cycle’s Low

23 hours ago
crypto

Crypto Liquidations Settle As Bitcoin Recovers Above $21,000

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

When Marketplaces Meet Predictions: The Curious Case Of Fair Prediction Launches

June 28, 2022

Globiance Goes Live on CoinMarketCap And 6 Exchanges (CEX)

June 28, 2022

Why is Klein Finance so important to KCC (KuCoin Community Chain)?

June 28, 2022

LBank Exchange Will List SENSO on June 28, 2022

June 28, 2022

LBank Exchange Will List LOOT on June 29, 2022

June 28, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.