Bitcoin Price Technical Analysis for 04/25/2016 – Aiming for $500?
Bitcoin price could make its way to the 2015 highs near $500 if bulls continue to stay in control even with this week's event risks. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. However, the gap between the moving averages is narrowing so a crossover might still be possible later on. In that case, the resistance could hold and push bitcoin price back to the area of interest around $400. Also, stochastic is indicating overbought conditions and appears ready to head lower. Once it moves below the 80.0 level, sellers could step up their game....
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