Bitcoin Price Technical Analysis for 05/12/2016 – Bearish Flag Pattern?
The 100 SMA is still above the longer-term 200 SMA so the path of least resistance could still be to the upside. However, the gap between the moving averages is narrowing so a downward crossover could take place and allow bears to jump in. A break below the short-term rising trend line connecting the lows since May 10 could be an early signal that bearish pressure is back. On the other hand, a move past the $456 near-term resistance could indicate that a bounce to the channel resistance around $465-470 is in the cards...
http://www.newsbtc.com/2016/05/12/bitcoin-price-technical-analysis-05122016-bearish-flag-pattern/
Topic: [2016-05-12]Bitcoin Price Technical Analysis – Bearish Flag Pattern? (Read 207 times)
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