Bitcoin Price Technical Analysis for 04/19/2016 – Still Stuck in a Wedge!

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Bitcoin Price Key Highlights

  • Bitcoin cost has been gradually trending aloft though it seems that bulls are using out of steam.
  • Price has been stranded inside a rising crowd converging settlement for utterly some time and a dermatitis competence take place soon.
  • Bitcoin cost got deserted on a exam of insurgency and is on a approach to exam support nearby a relocating averages.

Bitcoin cost could be due for a rebound off a bottom of a rising crowd as a converging carries on.

Technical Indicators Signals

The 100 SMA is still above a longer-term 200 SMA so a trail of slightest insurgency is to a upside. In addition, a opening between a relocating averages seems to be widening, indicating stronger bullish momentum.

Meanwhile, stochastic has incited aloft even though reaching a oversold region. This could be demonstrative of a lapse in shopping pressure, presumably permitting bitcoin cost to make another try during violation past a crowd insurgency around $435.

Also, RSI appears to be relocating behind adult though is now on center ground. This could be a pointer that a converging competence simply lift on, gripping bitcoin cost safely inside a crowd formation.

Bitcoin Price Technical Analysis for 04/19/2016 - Still Stuck in a<p><br><a href=Read more ... source:

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