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Author Topic: [2016-04-15]Bitcoin Price Technical Analysis – Daily Triangle Holding  (Read 162 times)
Blawpaw
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April 15, 2016, 07:44:07 PM
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Bitcoin Price Technical Analysis for 04/15/2016 – Daily Triangle Holding

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside, suggesting that a break above the triangle top could be possible. However, the gap between these moving averages is narrowing, indicating a possible downward crossover.

Meanwhile, stochastic is indicating overbought conditions so buyers are already feeling exhausted from propping bitcoin price up. Once the oscillator turns down from the 80.0 level and starts heading further south, bitcoin price might follow suit...

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