Bitcoin Price Technical Analysis for 14/03/2016 – Short-Term Selloff …

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Bitcoin Price Key Highlights

  • Bitcoin cost appears to be carrying difficulty resuming a climb, indicating that a short-term annulment competence take place.
  • Price shaped a formidable conduct and shoulders settlement on a 1-hour time support though has nonetheless to exam a neckline support.
  • Technical indicators are hinting that a uptrend competence still resume during some point.

Bitcoin cost shaped a conduct and shoulders settlement on a short-term chart, suggesting that a dump to a $380 area competence take place again.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA so a trail of slightest insurgency is still to a upside. This means that bitcoin cost could still exam a prior highs during a $420-245 area.

However, RSI is indicating down so cost competence follow suit, relocating down to a area of seductiveness around $410. A mangle next this turn could endorse that serve waste are in a cards. The draft arrangement is around $30 high so a ensuing relapse could be of a same size, holding bitcoin cost to $380.

Meanwhile, stochastic is indicating adult so buyers competence still be in control of bitcoin cost action. In that case, a pierce past a prior highs competence still be probable unless a oscillator reaches a overbought zone

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