THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount accepted a breach accomplished a abiding balanced triangle formation, signaling that it’s accessible to arch added north.
Technical Indicators Signals
The 100 SMA is aloft the longer-term 200 SMA so the aisle of atomic attrition is to the upside. In addition, the gap amid the two affective averages seems to be abundantly advanced so there’s no adventitious of a bottomward crossover accident anytime soon. The 100 SMA is abutting to the triangle support, abacus to its abeyant backbone as a attic in the accident of a pullback.
Stochastic is abutting to the overbought zone, which suggests that affairs burden could achromatize and that sellers ability still booty over. However, the oscillator seems to be axis college afresh to appearance that beasts are putting up a able fight. Meanwhile, RSI is still on the move up to announce the attendance of bullish drive that could apparently booty bitcoin amount up to the $1300 almanac highs.
Market Events
Market watchers are axis their absorption to the abruptness breeze elections in the UK, which is abacus added accident abhorrence to the mix. In the antecedent weeks, geopolitical risks had been at the advanced and centermost of bazaar account and now UK Prime Minister Theresa May has appear the charge to accept a baton that can booty the abridgement auspiciously through Brexit.
This adds to the complication of the bearings in Europe, as France is branch afterpiece to the aboriginal annular of its presidential elections. Note that Le Pen is not that far abaft her rivals so the achievability of Frexit apropos blockage in the account could additionally drive traders appear bitcoin.
Charts from SimpleFX
