Bitcoin Price Technical Analysis for 06/15/2016 – Another Weekend Breakout?

Bitcoin Price Key Highlights

  • Bitcoin cost is stranded in converging once more, following a clever upside dermatitis final week.
  • Looking behind during a prior breakouts shows that it occurs towards a finish of a week and sustains a movement until Monday.
  • Upcoming eventuality risks could keep this report in play, nonetheless a arriving FOMC matter could make a conditions some-more complex.

Bitcoin cost could keep adult a settlement of weekend breakouts unless a FOMC matter formula to a clever swell in dollar demand.

Technical Indicators Signals

The 100 SMA is above a 200 SMA so a trail of slightest insurgency is to a upside, and a opening between a dual relocating averages is widening so bullish movement is strengthening.

However, stochastic and RSI are both relocating south from a overbought zones, indicating that profit-taking is happening. For now, a near-term support around $655 is gripping waste in check, and a mangle next this turn could coax a larger correction.

As mentioned earlier, a breakouts occurred on May 26 (Thurs), Jun 3 (Fri), and Jun 11 (Sat) so there’s a good possibility that another upside pierce could be seen around a weekend onto Monday, generally with a EU referendum scheduled a small over a week from today.



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