BitCoin soars – Technical Analysis – 30-10-2015

Bitcoin price soared after breaching the medium term bearish trend line previously, supported by the positive moving average 50, to breach 303.16 resistance level that represents 50% Fibonacci of the medium term bearish wave from 453.92 to 152.56.

Our positive outlook will continue for the coming trading, targeting 382.76 that represents 76.4% Fibonacci of the above mentioned wave, especially after breaching 338.74 resistance level.