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Topic: [2016-06-08] Bitcoin Price Technical Analysis – Rising Channel or Double top? (Read 266 times)

legendary
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Bitcoin Price Technical Analysis for 06/08/2016 – Rising Channel or Double Top?

The 100 SMA is above the 200 SMA and is around the channel support, which might hold as a dynamic support level. However, a move below this area could lead to the creation of a double top formation with the neckline around $540-550. Further selling pressure could lead to a downside break of the neckline and a continuation of the longer-term drop to the visible support at $450-500...

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