Bitcoin Price Technical Analysis for 04/04/2016 – Slow Crawl!

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Bitcoin Price Key Highlights

  • Bitcoin cost has been solemnly trending higher, relocating inside a rising channel manifest on a 4-hour chart.
  • Price only done a exam of support around $410 and bounced, though it appears to be carrying difficulty nutritious a bullish momentum.
  • Price is still hovering only next a mid-channel area of seductiveness so another exam of support competence be in a cards.

Bitcoin cost is solemnly crawling aloft with a rising channel still intact, though a downside mangle and annulment competence be looming.

Technical Indicators Signals

The 100 SMA is next a 200 SMA for now so a trail of slightest insurgency competence be to a downside. However, an ceiling crossover appears to be holding place to uncover a pickup in bullish strength. If so, bitcoin cost could make a stronger try to convene towards a channel resistance.

Stochastic is creation a approach down from a overbought turn to uncover a lapse in bearish pressure. RSI is also streamer south so bitcoin cost competence follow suit. In that case, cost could try a mangle next a channel support around $410-415 and go for some-more waste until a channel lows during $380.

Bitcoin Price Technical Analysis for 04/04/2016 - Slow Crawl!
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