Bitcoin Price Technical Analysis for 10/19/2016 – Bearish Pressure …

Btchain

Bitcoin Price Key Highlights

  • Bitcoin cost is still stranded in a parsimonious operation on a short-term time frames, bouncing off support once more.
  • A exam of a near-term insurgency could be in a cards though technical signals are indicating to a downside break.
  • Buyers seem to be using out of movement or traders are simply watchful for uninformed marketplace catalysts.

Bitcoin cost could continue to connect though if a dermatitis occurs, technicals are bearing a downside move.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA for now, that suggests that buyers still might have a bit of appetite left in them. However, a opening between a relocating averages is squeezing so a downward crossover might be imminent. If it happens, some-more sellers could bound in and trigger a downside mangle of converging for bitcoin price.

Stochastic is also on a pierce adult for now so there’s some bullish movement left, substantially adequate for a exam of a operation insurgency during $646. If a roof still holds, bitcoin cost could go for another exam of support during $636 or maybe a mangle lower. If so, a cryptocurrency could go for a pierce to a subsequent building during $615.

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