Bitcoin Price Technical Analysis for 04/05/2016 – Low Volatility So Far…The moving averages are oscillating so the consolidation could carry on for the time being. A break past the $420 level could generate enough bullish momentum for a test of the channel resistance at $430. On the other hand, if the $420 area keeps gains in check, another test of support around $410-415 could take place.
RSI is treading sideways, also suggesting that consolidation could stay in play. Stochastic is on the move up, which means that buyers are in control, but this oscillator is already indicating overbought conditions. Once it turns lower, sellers could gain the upper hand.
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