{"id":10848,"date":"2015-01-25T15:48:27","date_gmt":"2015-01-25T20:48:27","guid":{"rendered":"https:\/\/wncen.com\/?p=10848"},"modified":"2024-06-11T12:56:00","modified_gmt":"2024-06-11T12:56:00","slug":"bitcoin-price-technical-analysis-2512015","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-technical-analysis-2512015\/","title":{"rendered":"Bitcoin Price Technical Analysis for 25\/1\/2015"},"content":{"rendered":"
Bitcoin price continued rising, emphasizing the bullish wave that started earlier this week<\/a>. Yesterday, the price pushed upwards until it touched the $256 resistance line.<\/p>\n The price reached a high of around $259 yesterday, before falling to $249 at the time of writing of this article. Basic and technical analyses are in favor of continuation of the bullish trend to push the price even higher. By studying the 1 day Bitfinex (BTC\/USD) charts from tradingview.com<\/a>, we can notice a reversal of the bearish trend on the 14th<\/sup> of January. By plotting the Relative Strength Index (RSI) on the same charts (look at the below chart), we can observe an upward sloping RSI which is synchronizing with the current price movement. Lack of a bearish divergence using RSI analysis of the trading charts of the past 14 days indicates that the price is likely to continue rising throughout the next few days.<\/p>\n