Bitcoin Forum
May 29, 2022, 03:13:54 AM *
News: Bitcoin Pizza bake-off contest
   Home   Help Search Login Register More  
Pages: [1]
Author Topic: [2016-10-12]Bitcoin Price Technical Analysis - Aiming Higher!  (Read 271 times)
Hero Member
Offline Offline

Activity: 504
Merit: 500

View Profile
October 12, 2016, 10:36:16 PM

Bitcoin Price Technical Analysis for 10/12/2016 – Aiming Higher!

The 100 SMA is crossing above the longer-term 200 SMA to show that buyers are taking control of bitcoin price action. These moving averages are in line with the 4-hour bullish channel support at $610, adding to its strength as a floor. Bitcoin seems to have its sights set on the $650-655 area from here.

However, bearish pressure could be returning as stochastic has already reached the overbought region. The oscillator has yet to turn down to indicate that sellers are gaining control of bitcoin price action...
Pages: [1]
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!