Bitcoin Price Technical Analysis for 17/12/2015 – Reversal Signal Forming?

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Bitcoin Price Key Highlights

  • Bitcoin cost appears to be carrying difficulty nutritious a climb, as it is contrast a roof during a latest highs.
  • If this area continues to reason as resistance, bitcoin cost could finish a double tip settlement with a neckline during $400.

Bitcoin cost is undergoing weaker bullish momentum, with a lapse in offered vigour expected to coax a continued selloff.

Potential Downtrend

A mangle subsequent a probable double tip neckline could set off a longer-term downtrend for bitcoin price, expected holding it down to a subsequent area of seductiveness around $300-350.

For now, a 100 SMA appears to be holding as support. This short-term relocating normal is also above a longer-term relocating average, indicating that a trail of slightest insurgency is to a upside.

However, bitcoin cost competence need to accumulate adequate movement to mangle past a latest highs around $465 before confirming that a uptrend is set to lift on. Stochastic and RSI are both on a pierce down, that suggests that sellers are still in control during a moment.

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Once a oscillators reach

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