Bitcoin Price Technical Analysis for 11/15/2016 – Wait for a Breakout

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Bitcoin Price Key Highlights

  • Bitcoin cost has shaped reduce highs and aloft lows, formulating a exquisite triangle on a 4-hour time frame.
  • Price is now contrast a triangle insurgency and watchful for some-more bullish movement to trigger an upside break.
  • Technical indicators are giving churned signals during a impulse though a dermatitis could yield longer-term instruction for bitcoin trading.

Bulls and bears are still fighting over where to take bitcoin cost next, as a mangle from this converging settlement would endorse that side wins.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA so a trail of slightest insurgency is to a upside. In other words, an upside dermatitis competence be some-more expected compared to a downside one. If that happens, bitcoin cost could stand to a triangle highs during $765 or higher.

On a other hand, a downside mangle could pierce it down to a triangle lows during $670. The 100 SMA is holding as energetic insurgency for now and competence continue to keep gains in check given it coincides with a tip of a triangle.

Also, stochastic is on a pierce adult to uncover that bullish vigour is still benefaction though a oscillator is impending a overbought section to prove that the

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