100 4-h SMA continues to provide cushion – Bitcoin touched a low of $433 yesterday, a level which we specifically mentioned as the key support for the cryptocurrency. The cryptocurrency should now tackle the immediate resistance from the 20 4-h SMA of $442.
Momentum – We also pointed out earlier that the Momentum has hit a bottom and that its value may cross 0 soon. The current value of Momentum indicator is 6.0700; a drastic improvement over its previous value of -12.7900.
Money Flow Index – The MFI has also seen a strong appreciation in its value to 46.3961.
Relative Strength Index – The latest RSI reading of 43.8706 does not lend much confidence to the buyers but do watch out for a sharp jump.
http://www.newsbtc.com/2015/12/23/bitcoin-price-technical-analysis-for-23112015-strong-positive-indications/
Topic: [2015-12-23] Bitcoin Price Technical Analysis – Strong Positive Indications (Read 254 times)
December 23, 2015, 10:51:34 AM
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