Bitcoin Price Technical Analysis for 05/01/2016 - Prime for a Breakout!

Bitcoin Price Technical Analysis for 05/01/2016 - Prime for a Breakout!

Bitcoin price is still deciding which direction to take, although it is approaching the peak of the triangle and might need to break out soon. The oscillators such as RSI and stochastic are hinting that bearish pressure could come into play, as both indicators are moving lower. Stochastic came out of the overbought zone, indicating that buyers are still taking a break and letting sellers take control. Meanwhile RSI is nearing the overbought region and ready to indicate that buying pressure is fading. On the other hand, the moving averages are showing that buyers might have enough energy....


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