Bitcoin Price Technical Analysis for 11/11/2016 – Resistance Turned Support
Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. SPONSORED ARTICLE: Tech Analysis articles are sponsored by SimpleFX - Simple as Never Before, SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers and trading conditions simple and transparent. Bitcoin Price Technical Analysis Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Technical Indicators Signals The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former res...