Bitcoin Price Technical Analysis for 10/12/2016 – Aiming Higher!
The 100 SMA is crossing above the longer-term 200 SMA to show that buyers are taking control of bitcoin price action. These moving averages are in line with the 4-hour bullish channel support at $610, adding to its strength as a floor. Bitcoin seems to have its sights set on the $650-655 area from here.
However, bearish pressure could be returning as stochastic has already reached the overbought region. The oscillator has yet to turn down to indicate that sellers are gaining control of bitcoin price action...
http://www.newsbtc.com/2016/10/12/bitcoin-price-technical-analysis-10122016-aiming-higher/
Topic: [2016-10-12]Bitcoin Price Technical Analysis - Aiming Higher! (Read 312 times)
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