Bitcoin Price Technical Analysis for 03/31/2016 – Symmetrical Triangle Intact

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Bitcoin Price Key Highlights

  • Bitcoin cost is still consolidating on a aloft time frames, relocating inside a exquisite triangle settlement on a daily and 4-hour chart.
  • Price only bounced off a triangle support and competence be prepared for a exam of resistance.
  • Technical indicators are suggesting that a converging competence lift on from here.

Bitcoin cost competence keep combining reduce highs and aloft lows, staying inside a long-term converging pattern.

Technical Indicators Signals

btcusd, bitcoin price

btcusd, bitcoin price

The 100 SMA is next a 200 SMA so a trail of slightest insurgency is to a downside. However, an ceiling crossover appears to be brewing and a indicators could keep oscillating, indicating that converging competence continue.

RSI is on a pierce up, confirming that buyers are perplexing to recover control and pull bitcoin cost adult to a triangle insurgency around $420-430. Stochastic is also indicating adult to prove that shopping vigour is resuming. If buyers are clever enough, they could even pull for an upside dermatitis and a longer-term stand for bitcoin price.

On a other hand, a downside mangle next support could coax a enlarged downtrend, expected holding bitcoin cost down to the

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