Bitcoin Price Technical Analysis for 05/10/2016 – Uptrend Channel Forming
The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. The gap between the moving averages is widening so bullish momentum is strengthening.
However, stochastic is on the move down so bitcoin price could follow suit, supporting the idea that a test of the channel support at $450 is possible. Similarly, RSI is pointing down and making its way out of the overbought area to show that profit-taking off the recent rallies is in play...
http://www.newsbtc.com/2016/05/10/bitcoin-price-technical-analysis-05102016-uptrend-channel-forming/
Topic: [2016-05-10]Bitcoin Price Technical Analysis – Uptrend Channel Forming (Read 199 times)
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