Bitcoin Price Technical Analysis for 09/30/2016 – Another Test of Range Support?
The 100 SMA is above the longer-term 200 SMA on this time frame, hinting that the path of least resistance is still to the upside. In fact, bitcoin price has formed higher lows so bulls could be trying harder to keep it afloat. Apart from that, the 200 SMA is currently holding as dynamic support and the gap between the moving averages is widening to reflect stronger buying pressure.
Stochastic is on its way up from the oversold region, also suggesting that buyers are regaining control of bitcoin price action. In that case, another test of the resistance at $608 might even be possible in the near-term...
http://www.newsbtc.com/2016/09/30/bitcoin-price-technical-analysis-09302016-another-test-range-support/
Topic: [2016-09-30]Bitcoin Price Technical Analysis – Another Test of Range Support? (Read 264 times)
September 30, 2016, 04:04:17 PM
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