[2016-08-16] Bitcoin Price Technical Analysis – Short-Term Reverse Pattern ?

[a7mos]

Bitcoin Price Key Highlights

Bitcoin price has sold off sharply recently but it looks like bears may be tired from the dive.
A small double bottom pattern has emerged after price failed in its last two attempts to break below $565.
Price has yet to break past the neckline at $575 before confirming the potential rally.

read the Analysis

[Kaneki]

If bitcoin price does break past the double bottom neckline, it could find dynamic resistance at these moving averages, which are around $580 to $585. A break past these levels could confirm that bullish momentum is underway.