• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
bitcoin
Sensei Inu Logo

Bitcoin Price Technical Analysis for 12/19/2016

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

Bitcoin Price Key Highlights

  • Bitcoin price broke above its short-term consolidation and is on its way to making a solid move past $800.
  • Price is still moving carefully inside a rising wedge formation visible on its 4-hour chart.
  • If the wedge resistance continues to keep gains in check, bitcoin price might be forced to break below support.

Bitcoin price is slowly treading higher, trying to muster enough energy for a strong break past $800.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. However, the gap between the moving averages is pretty narrow so a downward crossover could be possible, likely drawing more sellers to the mix.

Stochastic seems to be on its way down, also suggesting that bears are ready to regain control of bitcoin price action. RSI is turning higher to indicate that buyers will put up a strong fight.

The wedge formation spans $700 to $800 so a break in either direction could result to a move of the same magnitude. With that, bitcoin price could either head up to $900 in the long run or slide back to the $700 level.

Bitcoin Price Technical Analysis for 12/19/2016 - Breaking Past $800!

Market Events

The US central bank decided to hike interest rates by 0.25% last week and signal room for three more rate hikes next year, thereby increasing demand for US assets and the dollar. This has made it more difficult for bitcoin price to extend its gains or make a sharper climb recently.

Apart from that, volume has been considerably lower in the past few days, possibly as traders are starting to book their profits as the end of 2016 approaches. If this behavior continues for the next couple of weeks, bitcoin could be in for a few more losses.

On the other hand, if traders don’t pass up the chance to rake in more profits before the year comes to a close, bitcoin price could see further upside until the $850 area. There’s not much in the way of major market catalysts, though.

Charts from SimpleFX

Tags: bitcoin pricebitcoin signalsbitcoin technical analysisbitcoin tradingbtcusd price
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin and Ethereum

Will Ethereum Flip Bitcoin? Crypto Analyst Explains How

37 mins ago
Ripple XRP SEC

Pro-XRP Lawyer Reveals The Impact Of SEC’s Lawsuit Against Ripple

4 hours ago
XRP XRPUSDT XRP Price analysis

XRP Price Bloodbath On The Horizon? Report Casts Doubt On Recent Rally

6 hours ago
Ripple XRP price bull

XRP Price Disappoints: Crypto Analyst Reveals Why He Will No Longer Accumulate

7 hours ago
Bitcoin BTC price October

Bitcoin News: Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

10 hours ago
XRP price

Expert Predicts Staggering 760% Surge For XRP Price: Here’s The Roadmap

11 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    10 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    13 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    15 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    15 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    3 days ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.