Bitcoin Price Technical Analysis for 11/30/2016 – The Battle Heats Up!

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Bitcoin Price Key Highlights

  • Bitcoin cost has been on an uptrend and is relocating above a rising trend line manifest on a 4-hour time frame.
  • Price has been consolidating really tighten to a trend line recently, signaling that sellers are perplexing to pull for a downside break.
  • Price has also shaped reduce highs so offered vigour is mounting.

Bitcoin cost is consolidating firmly right on a rising trend line support so a dermatitis competence occur sincerely soon.

Technical Indicators Signals

The 100 SMA is still above a longer-term 200 SMA so a trail of slightest insurgency is to a upside, that suggests that bitcoin cost could mangle aloft and substantially make a run for a prior highs around $780. Also, a 100 SMA lines adult with a rising trend line, adding to a strength as a floor.

However, stochastic is branch reduce but even reaching a overbought zone, that means that bears are fervent to bound in. RSI is on center ground, hardly charity any directional clues during a moment.

A downside mangle could confront a bit of support during a 200 SMA energetic rhythm point. A pierce next this indicator could endorse that bears are gaining movement and that a downward SMA crossover would follow, sketch even

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