Bitcoin Price Technical Analysis for 04/12/2016 – Finally Some Volatility!As mentioned in the previous update, the moving averages added strength to the support at the bottom of the channel near $415. In addition, the 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside and the uptrend is likely to carry on.
Right now, bitcoin price is encountering a bit of resistance at the mid-channel area of interest at $425. A break past this level could allow it to set its sights on the range resistance but if the current levels keep gains in check, price could make another test of support at $420...
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