Bitcoin Price Technical Analysis for 2/4/2015 - Uncoiling Upwards

Bitcoin Price Technical Analysis for 2/4/2015 - Uncoiling Upwards

Yesterday, we noted that bitcoin started to coil within a consolidation range between roughly 236 and 256 as we can see in the 1H chart. Bitcoin (BTCUSD) 1H Chart 2/4/2015. During the first session of April, btcusd first extended a dip that cracked 240, but rebounded quickly back above the session high. More, importantly, the technical picture is shifting from neutral-bearish, to neutral in the near-term (1H chart). 1) BTCUSD is now crossing above the 200-, 100-, and 50-hour SMAs, which shows at least a loss of the prevailing bearish bias. 2) The RSI has pushed above the 60 level, which....


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