Bitcoin Price Technical Analysis for 10/18/2016 – Make or Break!

Bitcoin price seems to be exhausted from its climb and might need to pull back to the channel support before heading further north.
***
Bitcoin Price Key Highlights
Bitcoin price is still trending higher, trading inside an ascending channel pattern on its 4-hour time frame. Price is still consolidating close to the channel resistance with a bullish continuation pattern forming. An upside break from this flag formation could lead to a sharper climb while a downside move could lead to a test of the channel support. Bitcoin price seems to be exhausted from its climb and might need to pull back to the channel support before heading further north.

This post was published at NewsBTC on October 18, 2016.