Bitcoin Price Technical Analysis for 04/13/2016 – Another Channel Within a Channel!

Bitcoin Price Key Highlights

  • Volatility seems to have calmed down for bitcoin cost once more, as it is now stalling around a mid-channel area of seductiveness seen on longer-term time frames.
  • Zooming in to a 1-hour draft shows that bitcoin is relocating inside a short-term channel once some-more and is contrast resistance.
  • If this roof holds, another exam of a long-term channel support nearby $420 could be seen.

Bitcoin cost is carrying difficulty nutritious a stand past this short-term insurgency area, though a mangle aloft could meant a pierce to a longer-term channel top.

Technical Indicators Signals

Technical indicators on a 1-hour time support are suggesting that a selloff competence take place. The 100 SMA is next a 200 SMA so a trail of slightest insurgency is to a downside, nonetheless these relocating averages are also oscillating to prove consolidation.

Meanwhile, RSI is indicating down, that means that bearish vigour is present. Similarly, stochastic only done a approach down from a overbought section so cost competence follow suit. Near-term support could also be found around a relocating averages.

Bitcoin Price Technical Analysis for 04/13/2016 - Another Channel Within a Channel!

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