Bitcoin Price Technical Analysis for 11/02/2016 – Buying on the Dips

Bitcoin price is in for another dip to the ascending trend line support, offering an opportunity to buy on dips.
Bitcoin Price Key Highlights
Bitcoin price made a strong rally after its bounce off the rising support, as indicated in an earlier article. The $740 area is holding as resistance, possibly spurring another potential correction to the ascending trend line support. Technical indicators are suggesting that the uptrend could continue but that profit-taking is due. Bitcoin price is in for another dip to the ascending trend line support, offering an opportunity to buy on dips.

This post was published at NewsBTC on November 2nd, 2016.