Bitcoin Price Technical Analysis for 9/11/2015 – Correction Isn’t Over Yet!

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Bitcoin Price Key Highlights

  • As likely in an earlier article, bitcoin cost enjoyed additional sensitivity during a recover of top-tier jobs information from a US final week.
  • Since a tangible information came in most stronger than approaching and regenerated hopes of a Fed seductiveness rate travel in December, a US dollar hold on to a gains and kept bitcoin cost in improvement mode.

Bitcoin cost could lift behind to a reduce Fibonacci retracement levels, with technical indicators suggesting that a visual call is still in play.

Area of Interest during 61.8% Fib

In particular, a 61.8% Fibonacci retracement turn coincides with an area of seductiveness or former insurgency turn around $310. Stochastic is still on a pierce south, that indicates that sellers are in control of cost action. Meanwhile, RSI is only streamer down from a overbought zone, reflecting a pickup in bearish pressure.

Note that stochastic is impending a oversold zone, with buyers prepared to bound in once a oscillator turns higher. If that happens earlier rather than later, bitcoin cost could already make a rebound off a 38.2% Fib.

The 100 SMA is above a longer-term 200 SMA, that suggests that a trail of slightest insurgency is to a upside and that the

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