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Author Topic: [2016-08-18]Bitcoin Price Technical Analysis – Bears in Control  (Read 159 times)
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August 18, 2016, 12:57:43 PM

Bitcoin Price Technical Analysis for 08/18/2016 – Bears in Control

The 100 SMA is still above the longer-term 200 SMA so the path of least resistance could still be to the upside. In that case, a break past the trend line resistance might be a possibility. At the same time, stochastic is still heading north, which means that bullish momentum is in play, possibly enough to carry bitcoin price up to to the trend line. Sustained bullish pressure could spur an upside break and a reversal from the downtrend, but it would take a strong market catalyst to trigger that...
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