Bitcoin Price Technical Analysis for 27/11/2015 – Potential Correction Levels

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Bitcoin Price Key Highlights

  • Bitcoin cost recently done a strong upside break from a converging pattern, indicating that shopping vigour is building adult and that an uptrend competence take place.
  • A bit of perplexity can be seen right now, though, so a improvement to a short-term Fib levels competence be indispensable before some-more bulls come out to play.

Bitcoin cost could shelter to any of a Fibonacci retracement levels noted on a 1-hour time support before resuming is stand to a prior highs or beyond.

Technical Signals Favor Rallies

Even yet a bit of offered vigour could come into play as traders book increase off a latest rally, a Fib levels competence still reason as support and pull some-more buyers to a mix. Price is already contrast support during a 50% retracement turn or $350 and competence be due for a stand behind to a latest highs during $370.

A incomparable improvement to a 61.8% Fib competence still be possible, holding bitcoin cost down to $335. RSI is on a pierce down so buyers competence still be holding a mangle and vouchsafing sellers take it from here.

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