Bitcoin Price Technical Analysis for 10/25/2016 – Bulls Back in Action!

Bitcoin price seems to be regaining bullish momentum after breaking above this short-term consolidation pattern.
Bitcoin Price Key Highlights
Bitcoin price recently made a strong rally but fell back in consolidation as bulls struggled to keep the momentum going. Buying pressure seems to be returning since price broke to the upside of the consolidation pattern and appears to have completed a quick pullback. Price could head back to the previous highs from here or carry on with a larger retracement. Bitcoin price seems to be regaining bullish momentum after breaking above this short-term consolidation pattern.

This post was published at NewsBTC on October 25th, 2016.