Bitcoin Price Technical Analysis for 11/27/2017 – Thanksgiving Rally Puts $10,000 In Sight?

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. The short-term moving average also lines up with the ascending trend line, adding to its strength as a floor around $8400.

Stochastic has been indicating overbought conditions for quite some time, and so has RSI. This means that buyers are already feeling exhausted from the climb and might be looking to book profits soon.

However, bitcoin price action at the start of this week suggests that more investors are rushing to reopen their positions after paring risk ahead of the Thanksgiving holidays…

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