Bitcoin Price Technical Analysis

Bitcoin price creating new high all the time. The bullish moment in the cryptocurrency has been seen on a continuous scale. According to the technical analysis, it is more like to rise above rather than going back.

The price of bitcoin is on rising as per the technical indicators the 100 SMA is above the 200 SMA. If we see the bullish momentum of the bitcoin value, the gap between the average is getting wider on a chart.

The price of bitcoin currently trading at approx. 50% on the higher side. In next few days, the level could touch the $4,500. Later with its continuous surge taking a leap to 76.4% extension reaching around $ 4,700. That means it is no wonder the bitcoin price could reach to $5,000 by the end of the year 2017.

Past few days were not easy for the bitcoin after much of instability in price, the bitcoin value gets a strength after the activation of soft fork SegWit on the bitcoin network yesterday. The fork could bring good changes to the network and increase the transaction than usual.

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