Bitcoin Price Technical Analysis for 06/30/2016 – End-of-the-Quarter Profit-Taking?

Bitcoin Price Key Highlights

  • Bitcoin cost has combined after a clever convene and improvement in a past month.
  • But with a finish of a month AND entertain on us, there’s a clever possibility that traders would book increase off their new positions.
  • At a moment, bitcoin cost appears to be display a bearish dwindle pattern, that is typically deliberate a selloff delay signal.

Bitcoin cost could be in for another turn of flighty movement during a finish of this month and quarter.

Technical Indicators Signals

On a daily time frame, it can be seen that bitcoin cost is still in a center of a pullback from a new rally. The 100 SMA is above a 200 SMA so a trail of slightest insurgency is to a upside, that suggests that bitcoin could have a shot during contrast a prior highs only next a $800 symbol or streamer most serve north.

However, a most incomparable pullback could be possible, as a bearish dwindle has formed. A candle shutting next a $600 symbol could be adequate to endorse that sellers are convalescent control, nonetheless bitcoin cost could still pull support from a daily rising trend line that lines adult with a 100 SMA energetic rhythm point.

RSI is still pointing



Read more ... source:

Advertise on the Bitcoin News

NO COMMENTS