Bitcoin Price Technical Analysis for 11/17/2016 – Yearly Highs in Sight!

Bitcoin Price Key Highlights

  • Bitcoin cost staged a remarkably clever convene yesterday after a brief pullback to an area of seductiveness highlighted in a prior article.
  • Price is only a few points divided from a yearly highs around $780, during that profit-taking could take place.
  • Technical indicators are display that a convene could lift on.

Bitcoin cost is environment a sights on a yearly highs during $780 as bulls continue to benefit traction.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA so a trail of slightest insurgency is still to a upside. The opening between a relocating averages narrowed a bit when it seemed as yet a downward crossover was about to take place. However, it looks like a MAs avoided this unfolding and could continue to prove a participation of bullish momentum.

Stochastic is also branch aloft before even reaching a oversold area, also indicating that buyers are fervent to get behind in a game. RSI is also relocating adult so bitcoin cost could follow fit all a approach adult to a $780 highs. Stronger bullish vigour could trigger a mangle past that turn though there’s a outrageous possibility that traders could book increase off those levels.

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