Bitcoin Price Technical Analysis for 04/20/2016 – Upside Breakout, Where to Next?
Bitcoin price broke out of its short-term consolidation pattern and is eyeing further upside, possibly until the long-term channel resistance. The 100 SMA is still above the longer-term 200 SMA, confirming that the path of least resistance is to the upside. The rising wedge pattern spans $400-420 so the resulting rally could last by $20 until $455-460, which is also around an area of interest and former support. The top of the rising channel on the 4-hour chart is located around $470 so bitcoin price might need a lot of bullish pressure before reaching that level. For now, stochastic is....
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