Bitcoin Price Technical Analysis for 7/12/2015 – Where Will Bulls Take This Next?

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Bitcoin Price Key Highlights

  • Bitcoin cost is now on an uptrend, with bulls entrance out to play after a visual call was completed.
  • As remarkable in the prior article, a area of seductiveness around $350 hold as support and bitcoin cost was means to make a approach past a prior highs during $380.

Using a Fibonacci prolongation on a latest incentive call suggests that bitcoin cost has adequate room to go north, presumably over a $400 mark.

Another Pullback?

So far, a relocating averages have been holding as flattering clever energetic support areas. In addition, an ceiling crossover appears to be underway, with a 100 SMA relocating closer to a 200 SMA to prove a pickup in bullish momentum.

However, if profit-taking continues to take place around a stream levels, bitcoin cost competence confirm to shelter to a trend line joining a latest lows given mid-November. Stochastic is already indicating overbought conditions after all and is branch lower, that suggests that buyers competence need to take a mangle right now.

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Aside from that, RSI is showing

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