Bitcoin Price Technical Analysis for 04/22/2016 – Upside Breakout Pullback?
The 100 SMA is still above the longer-term 200 SMA, confirming that the path of least resistance is to the upside. Also, the 100 SMA lines up with the broken triangle resistance, which might hold as support moving forward. Applying the Fibonacci retracement tool on the latest swing high and low shows that the 61.8% level lines up with the 100 SMA and triangle resistance. A large pullback could last until that area but a shallow correction could find support at the 38.2% Fib or $435 level...
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Topic: [2016-04-22]Bitcoin Price Technical Analysis – Upside Breakout Pullback? (Read 301 times)
April 22, 2016, 02:23:30 PM
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