Bitcoin Price Technical Analysis for 08/26/2016 – More Bearish Signals?

The 100 SMA is below the longer-term 200 SMA on this time frame, confirming that the path of least resistance is to the downside. However, the gap between the moving averages is narrowing, which suggests that an upward crossover and return in bullish pressure could be possible. Stochastic is also on the move up, hinting that buyers could take control of price action. A bit of bullish divergence can be seen since stochastic made lower lows since mid-August while price had higher lows then. In that case, bitcoin price could head up to the...

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