Bitcoin Price Technical Analysis for 04/06/2016 – Nearing Channel ResistanceThe 100 SMA is above the 200 SMA so the path of least resistance is to the upside. If bullish pressure is strong enough, bitcoin price could even go for an upside break of the channel resistance, spurring a stronger rally for the virtual currency.
RSI is treading sideways, indicating that consolidation could carry on and that buyers and sellers are still undecided. However, stochastic is already indicating overbought conditions so a selloff might take place sooner or later...
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