Technical Indicators Signals
So far, technical indicators don’t seem to have caught up with the sudden upside break yet, although the moving averages are edging closer to make a potential upward crossover. For now, the 100 SMA is still below the 200 SMA and is close to the triangle support at $360.
Meanwhile, stochastic is indicating overbought conditions at the 80.0 level and is starting to turn lower, suggesting that selling pressure might pick up. Similarly, RSI is turning down from the overbought region, hinting at a possible return in bearish momentum.
In that case, bitcoin price could still pull back to the triangle resistance, which might now hold as near-term support. If price breaks below this area, though, it might still find a floor at the $360 triangle support to carry on with the consolidation.
http://www.newsbtc.com/2016/02/18/bitcoin-price-technical-analysis-for-18022016-finally-a-breakout/
