Bitcoin Price Technical Analysis for 15/12/2015 – Approaching Long-Term Hurdle

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Bitcoin Price Key Highlights

  • Bitcoin cost has been trending aloft on a short-term time frames, though it looks like a cryptocurrency is attack a roof during an area of interest.
  • Price is impending a support incited insurgency level, where several take-profit levels are substantially located.

Bitcoin cost could spin on attack a $500 level, as this lines adult with a yearly highs and a long-term area of interest.

Pause in Bull Run?

As seen on a daily time support of bitcoin price, a span is stalling around a $450 spin though competence still have adequate appetite for a spike aloft to $500. The 100 SMA only crossed above a longer-term 200 SMA, indicating that serve gains are possible.

If bullish vigour is clever enough, bitcoin cost competence even be means to mangle above a area of interest, holding it adult to a subsequent insurgency around $600. However, RSI is already relocating down from a overbought zone, that suggests that bulls competence need to take a mangle and let sellers take over.

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Similarly, stochastic is also on a move

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