Bitcoin Price Technical Analysis for 04/01/2016 – Short-Term Area of InterestThe 100 SMA is above the 200 SMA for now but a downward crossover looks ready to take place, signaling a potential turn lower. In addition, stochastic is heading south so bitcoin price might follow suit. If so, price could head back to the previous lows around $407-410.
RSI is treading sideways, suggesting that the consolidation could carry on. Bitcoin price appears to have encountered a weak support zone at $412, which might continue to keep further losses in check.
Still, if bullish pressure returns, bitcoin price could break past the 50% Fib and go for a test of the next level at $420, which also lines up with a near-term support zone.
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