Bitcoin Price Technical Analysis for 11/15/2016 – Wait for a Breakout

Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins.
Bitcoin Price Key Highlights
Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle on its 4-hour time frame. Price is currently testing the triangle resistance and waiting for more bullish momentum to trigger an upside break. Technical indicators are giving mixed signals at the moment but a breakout could provide longer-term direction for bitcoin trading. Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins.

This post was published at NewsBTC on November 15th, 2016.