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Title: [2016-06-21]Bitcoin Price Technical Analysis – Watch These Correction Levels Post by: BTCBinary on June 21, 2016, 01:32:34 PM Bitcoin Price Technical Analysis for 06/21/2016 – Watch These Correction Levels
On the daily time frame, the 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. However, the gap between these moving averages is narrowing so bullish pressure might be weakening. Stochastic is turning down from the overbought zone, which means that buyers are taking a break and allowing sellers to take over from here. RSI is also heading south so bitcoin price might follow suit. A larger correction could last until the 50-61.8% Fib levels, which are close to another area of interest at $600... http://www.newsbtc.com/2016/06/21/bitcoin-price-technical-analysis-06212016-watch-correction-levels/ |