Will the Channel Hold?
Technical indicators suggest that bitcoin price might bounce off the top of the range, as RSI is starting to turn down from the overbought zone. Stochastic still seems to be on the move up but has just landed in overbought territory, indicating that buying pressure might fade soon.
In addition, the 100 SMA is below the 200 SMA, suggesting that the path of least resistance is to the downside. However, an upward crossover appears to be brewing, which could mean that the uptrend might still carry on.
http://www.newsbtc.com/2016/02/29/bitcoin-price-technical-analysis-for-29022016-slow-crawl/
Topic: [2016-02-29] Bitcoin Price Technical Analysis – Slow Crawl for Bulls (Read 238 times)
February 29, 2016, 12:31:26 AM
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