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Title: [2016-04-29]Bitcoin Price Technical Analysis – Bears Getting Stronger? Post by: Blawpaw on April 29, 2016, 05:08:12 PM Bitcoin Price Technical Analysis for 04/29/2016 – Bears Getting Stronger?
The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is still to the upside. However, the gap between the moving averages is narrowing so a downward crossover might take place. In addition, the 200 SMA lines up with the 50% Fib while the 100 SMA coincides with the 61.8% Fib. Stochastic is heading down from the overbought area, which confirms that sellers are taking control and might push bitcoin price back to the previous lows or much lower. RSI, on the other hand... read more (http://www.newsbtc.com/2016/04/29/bitcoin-price-technical-analysis-04292016-bears-getting-stronger/) |