Bitcoin Price Technical Analysis for 18/02/2016 – Finally, A Breakout!

Bitcoin Price Technical Analysis for 18/02/2016 – Finally, A Breakout!

Bitcoin price could be on track to test its previous year highs at $500 now that an upside break from the triangle consolidation pattern took place. So far, technical indicators don’t seem to have caught up with the sudden upside break yet, although the moving averages are edging closer to make a potential upward crossover. For now, the 100 SMA is still below the 200 SMA and is close to the triangle support at $360. Meanwhile, stochastic is indicating overbought conditions at the 80.0 level and is starting to turn lower, suggesting that selling pressure might pick up. Similarly, RSI is....


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