Bitcoin Price Technical Analysis for 05/24/2016 – Retracement Opportunity!The 100 SMA is above the 200 SMA for now but the moving averages have inched close together, indicating that a downward crossover is looming. This could be interpreted as a signal for more sellers to short bitcoin, taking it back down to the recent lows around $437. In addition, the moving averages could hold as dynamic inflection points, possibly holding as resistance up to the $450.50 mark. A descending trend line can be drawn to connect the latest highs of price action since May 5, with the falling resistance level coinciding with the area of interest...
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