Author

Topic: [2016-08-16]Bitcoin Price Technical Analysis – Short-Term Reversal Pattern? (Read 235 times)

hero member
Activity: 504
Merit: 500
Bitcoin Price Technical Analysis for 08/16/2016 – Short-Term Reversal Pattern?

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In addition, the gap between the moving averages is widening, which reflects stronger bearish pressure. If bitcoin price does break past the double bottom neckline, it could find dynamic resistance at these moving averages, which are around $580 to $585. A break past these levels could confirm that bullish momentum is underway...

http://www.newsbtc.com/2016/08/16/bitcoin-price-technical-analysis-08162016-short-term-reversal-pattern/
Jump to: