28 Oct '16, 6am

Bitcoin Price Technical Analysis: Strong Drive Continues

Bitcoin Price Technical Analysis: Strong Drive Continues

Bitcoin Price Technical Analysis: Strong Drive Continues Bitcoin price is enjoying stronger bullish pressure that’s pushing it up on a much steeper climb lately. Bitcoin Price Key Highlights Bitcoin price has been making one upside breakout after another, indicating the presence of strong bullish momentum. A steeper rising trend line can be drawn to connect the latest lows of price action on the 1-hour time frame. Price could be in for a shallow pullback to this rising trend line or a larger correction to the nearby area of interest. Technical Indicators Signals The 100 SMA is safely above the longer-term 200 SMA so the path of least resistance is still to the upside, confirming that the uptrend is likely to carry on. The gap between the moving averages is widening, which means that bullish momentum is strengthening. A pullback to the trend line around $685 could be in the...

Full article: http://www.altcointoday.com/bitcoin-price-technical-analy...

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