Bitcoin Price Technical Analysis for 13/01/2016 - Sellers Unite!
Bitcoin price could undergo stronger bearish momentum in the coming days after it broke below the ascending triangle support. With this downside break, bitcoin price could eventually make its way towards the $400 area of interest. The triangle chart pattern spans $350 to $465 so the resulting breakdown could last by the same amount, although there are near-term support areas visible. The short-term 100 SMA is currently holding as a dynamic support level but it is below the longer-term 200 SMA so the path of least resistance is to the downside.
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