Bitcoin Price Technical Analysis for 11/18/2016 – Joining a Bulls?

Bitcoin Price Key Highlights

  • Bitcoin cost reached a yearly highs around $780 and profit-taking happened as likely in a previous article.
  • Price is now creation a pullback from a new convene and could confront some-more bulls who are watchful during a subsequent area of interest.
  • Technical indicators are confirming that a uptrend could resume once a improvement is completed.

Bitcoin cost is retreating on reaching a yearly highs though bulls could be prepared for another pull aloft after this pullback.

Technical Indicators Signals

The 100 SMA only crossed above a longer-term 200 SMA to prove that the trail of slightest insurgency is to a upside. The opening between a relocating averages is widening, that means that bullish vigour is removing stronger and that bitcoin cost could revisit a new highs earlier or later.

Stochastic is branch aloft from a oversold area, also to prove that profit-taking competence be over and that buyers could lapse to a game. RSI is also starting to bottom out so cost could follow suit. However, a incomparable pullback to a damaged insurgency around $720-735 could confront some-more bulls watchful with their prolonged orders.

161118_bitcoin

161118_bitcoin

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