Technical Indicators Signals
Technical indicators are suggesting a potential bounce for now, with the 100 SMA above the 200 SMA and oscillators moving out of the oversold levels. Both RSI and stochastic are also showing slight bullish divergences, hinting that buyers could come back in the game and trigger a pullback or rally for bitcoin price.
A pullback could lead to a test of the broken triangle support near $430 and the moving averages, which might hold as dynamic inflection points. A larger rally could lead to a move up to the tops around $440-450 or the previous year highs at $500.
Meanwhile, a continued selloff could lead to a drop to the next support around $380-400 and all the way down to $300. The triangle is approximately $50 tall so the resulting drop could last by the same amount.
http://www.newsbtc.com/2016/03/03/bitcoin-price-technical-analysis-for-03032016-breakdown-alert/
Topic: [2016-03-03] Bitcoin Price Technical Analysis– Breakdown Alert! (Read 252 times)
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