Bitcoin touches the previous top – Technical Analysis – 27-05-2016

Bitcoin price rallied strongly upwards to touch the recently recorded top at 470.00, as it gets good positive support by the exponential moving averages 50 and 100 after breaching them by the beginning of this week.

On the other hand, breaching the intraday resistance line that appears on chart supports achieving more gains in the coming period, and the next destination is 500.00 areas.

The stability above 436.30 remains the main condition to continue the expected rise.