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Title: [2016-10-11]Bitcoin Price Technical Analysis – New Channel to Watch! Post by: BTCBinary on October 11, 2016, 04:57:06 PM Bitcoin Price Technical Analysis for 10/11/2016 – New Channel to Watch!
Bitcoin price is trading inside an ascending channel pattern and might be due for a breakout soon. The 100 SMA is above the longer-term 200 SMA on this time frame, signaling that the path of least resistance is to the upside. Also, the gap between the moving averages is widening so bullish pressure is getting stronger. The 200 SMA is close to the bottom of the channel at $612, which might be the line in the sand for any correction from this uptrend... http://www.newsbtc.com/2016/10/11/bitcoin-price-technical-analysis-10112016-new-channel-watch/ |