[2016-08-21] Bitcoin Price Weekly Analysis –BTC/USD Poised For Gains

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NEWS BTC - Bitcoin Price Weekly Analysis –BTC/USD Poised For Gains

Key Points

    1. Bitcoin price after trading in a range for some time against the US Dollar started moving higher.
    2. There was a crucial contracting triangle pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which was broken during the recent upside.
    3. The price is also above the 100 simple moving average, which is a positive sign for buyers.

Bitcoin price broke a major resistance zone versus the US Dollar, and currently looks poised for more gains in the near term.

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