Bitcoin Price Technical Analysis for 3/30/2016 – Testing Channel Support

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Bitcoin Price Key Highlights

  • Bitcoin cost has been trending aloft recently, relocating above a rising channel on a 1-hour time frame.
  • Price is now contrast a channel support nearby $410 and a rebound could take it behind to a tip during $430.
  • Technical indicators are suggesting that serve gains are in a cards and that a uptrend could lift on.

Bitcoin cost competence be prepared to resume a stand if more bulls come into movement during this latest exam of a rising channel support.

Technical Indicators Signals

bitcoin price, bitcoin trading, btcusd

bitcoin price, bitcoin trading, btcusd

The 100 SMA is still above a 200 SMA so a trail of slightest insurgency is to a upside, confirming that a channel support would hold. In addition, both RSI and stochastic are indicating adult to uncover that bullish vigour is present.

Apart from that, a new exam of support led to a arrangement of a long-wicked candle, that means that buyers put adult a clever quarrel to forestall a span from descending further. A bit of converging took place shortly after, that suggests that bulls and bears are still battling it out for now.

A rebound off

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