Bitcoin to consolidate more towards the 100 day moving average?

19 апр. 2017 г.

BTCUSD Bitstamp daily chart showing bitcoin bouncing off its 100 day moving average after forming a batman cowl top formation. Bitcoin has formed another symmetrical triangle (upper blue triangle) and marginally breached to the upside. Waiting to see what happens around this triangle, but downward momentum could continue in the form of a dead cat bounce, taking us back to blue trend line 1 and to the 38% retracment (~1120 USD). Much stronger support in zone 3(red circle) at the 100 day MA (pink line) which is currently about 1070 USD. If we break below the zone 2 triangle, we could see the price fall all the way to the 62% retracement (980 USD), which is currently below the 100 day MA.