Bitcoin Technical Analysis 2/1/16 – bears are in control

Bitcoin Watch Shop

This weekend has been zero though tedious in terms of cost action. After a Sunday bear trap for a second time this weekend Bitcoin’s cost forsaken to trhe low $360 customarily to rebound right behind adult to a $370 levels. In a final technical analysis we analyzed a certain dissimilarity that was combining between a OBV and the price. This dissimilarity signaled vital cost transformation and a probable trend reversal, while no vital marketplace transformation occurred only nonetheless does not meant that it won’t occur any time soon.

bitcoin-21-breakdown
Chart from bitcoinwisdom.com

The draft above shows a relapse of a final support level, that was right around $375. The final dump from $375 is poignant given it signals that a bears are in control given a support section did not hold. When such technical indicators form, traders will customarily brief a confidence in doubt and additional sell vigour is expected. At this indicate it is doubtful that we will see a cost stand most aloft as support is hardly holding.

TReano from tradingview points out an engaging idea


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