Bitcoin Price Technical Analysis for 11/21/2016 – Don’t Miss This Correction!

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Bitcoin Price Key Highlights

  • Bitcoin cost retreated on contrast a yearly highs, permitting a improvement to manifest as expected in a previous post.
  • An descending channel can be seen on a 4-hour bitcoin chart, and cost is coming a floor.
  • Technical indicators are display that a stand is expected to resume rather than reverse.

Bitcoin cost is pulling behind from a ongoing uptrend, charity bulls a possibility to go prolonged during cheaper levels.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA on a 4-hour chart, confirming that a trail of slightest insurgency is to a upside. The opening between a relocating averages has been some-more or reduction maintained, reflecting solid bullish momentum.

The 100 SMA lines adult with a channel support around $720 and is now holding as a energetic rhythm point. The 200 SMA is somewhat next a channel support and competence be a line in a silt for a near-term correction. After all, a $720 turn lines adult with a former insurgency area as well.

Stochastic is creation a approach down, that means that a improvement is still holding place for now. However, a oscillator is creation an ceiling crossover and appears to be branch higher, indicating a participation of


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