Bitcoin Price Technical Analysis for 04/26/2016 – Catching Small Pullbacks

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Bitcoin Price Key Highlights

  • Bitcoin cost has been trending higher, gaining some-more bullish movement after violation out of a long-term converging pattern.
  • On a 1-hour time frame, a short-term descending trend line can be drawn to bond a latest lows of cost action.
  • Catching a pullback to this trend line could be a good approach to bound in a ongoing climb.

Bitcoin cost has been on a solid stand following a clever upside breakout, charity opportunities to join a convene on retracements.

Technical Indicators Signals

The 100 SMA is safely above a longer-term 200 SMA on this time frame, confirming that a trail of slightest insurgency is to a upside and that a trend is expected to lift on. In addition, a opening between a relocating averages is widening, indicating that bulls are gaining traction.

The trend line coincides with a 100 SMA, that could supplement to a strength as a support area. Also, that segment lines adult with a former insurgency incited support section around $455-460.

Bitcoin cost appears to be attack insurgency around $470 during a impulse and oscillators are suggesting that profit-taking competence take place. Stochastic is on a pierce down from a overbought segment so sellers are holding a top palm while RSI is

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