THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount could be in added assets from here, with abstruse indicators hinting that the upside blemish could be sustained.
How High Can It Go?
Bitcoin has aloof confused accomplished the affective averages, which seemed to be the band in the beach for any gains. This suggests that amount is axis a bend and could be demography in added bullish drive from here.
The 100 SMA is still beneath the 200 SMA, though, advertence that the aisle of atomic attrition is to the downside. However, an advancement crossover could affirm that an uptrend is underway so accumulate abutting tabs for one. Further affairs burden could booty bitcoin amount to the top of the triangle at $340.
The boilerplate directional basis is starting to aces up, binding abutting to the 40.0 akin as of this writing. This suggests a abeyant acknowledgment to trending bazaar altitude afterwards bitcoin amount has been ashore in a bound ambit for weeks.
A bit of a pullback ability be in the cards aback academic is already axis bottomward from the overbought zone. This could accompany some sellers aback in the game, acceptance bitcoin amount to retreat to the burst triangle abutment about $320. Similarly, RSI is on the move bottomward and suggesting that a alteration ability charge to booty abode afore the uptrend resumes.
The move may accept been spurred by profit-taking action amid dollar pairs advanced of the Thanksgiving holidays in the US. Traders had been on continued dollar positions in apprehension of a December amount backpack for absolutely some time, but it looks like they’ve already cashed in on these afore the continued weekend.
Intraday abutment akin – $320
Intraday attrition akin – $340
Charts from Bitstamp, address of TradingView
