Bitcoin Price Technical Analysis for 07/11/2016 – Still Stuck in Consolidation!

Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later.
Bitcoin Price Key Highlights
Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later.
Technical Indicators Signals
The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to the downside.

This post was published at NewsBTC on 4:18 am July 11, 201.