[2016-04-28]Bitcoin Price Technical Analysis – Bears Are Back!

[Blawpaw]

Bitcoin Price Technical Analysis for 04/28/2016 – Bears Are Back!

The oscillators fell from the overbought regions to indicate a return in bearish momentum. RSI is nearing the oversold area so profit-taking might happen but stochastic has a long way to go, which suggests that sellers could be in control for a long while.

However, the 100 SMA is still above the longer-term 200 SMA so a bounce is still possible. Bitcoin price is still on top of the trend line drawn to connect the lows since late January this year so the uptrend could resume from here...

[urlhttp://www.newsbtc.com/2016/04/28/bitcoin-price-technical-analysis-04282016-bears-back/]read more[/url]