Bitcoin Price Technical Analysis for 17/11/2015 – Bears Ready for More?

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Bitcoin Price Key Highlights

Bitcoin cost competence be prepared to resume a selloff if a area of seductiveness nearby a 38.2% Fibonacci retracement turn binds as resistance.

Bearish Divergence Seen

Bitcoin cost appears to have strike insurgency during a $330 area or 38.2% Fib level, that coincides with a energetic rhythm indicate during a 100 SMA. This short-term relocating normal is next a longer-term 200 SMA, signifying that a trail of slightest insurgency is to a downside and that a selloff competence lift on.

If so, bitcoin could tumble behind to a latest lows around $315.50 or even make new ones if bearish vigour is clever enough. Stochastic is already indicating overbought conditions and a bearish dissimilarity from a highs final week, adding some-more acknowledgment that sellers could take control.

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RSI is also streamer lower, which

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