Bitcoin Price Key Highlights
Bitcoin price finally made the much-needed correction from its stellar rally, retreating upon hitting the $500 area as predicted in an earlier article.
Price seems to have already found support at the 61.8% Fibonacci retracement level based on the swing low and high on the 1-hour time frame.
Bitcoin price might be ready to resume its climb from here, potentially heading back up to the previous highs and beyond.
Indicators Support Another Bounce
Technical indicators are suggesting that the bull run could carry on, with the 100 SMA safely above the longer-term 200 SMA. In addition, the short-term moving average successfully held as a dynamic support level, as bitcoin price promptly bounced after testing it as well.
http://www.newsbtc.com/2015/11/05/bitcoin-price-technical-analysis-correction-500-called/