Bitcoin Price Technical Analysis for 09/09/2016 – Break and Retest?

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Bitcoin Price Key Highlights

  • Bitcoin cost recently done an upside mangle from a bullish delay pattern, signaling that buyers are prepared for some-more gains.
  • Price seems to be pulling behind to a damaged short-term insurgency before convalescent momentum.
  • There are copiousness of support levels located circuitously and these competence be adequate to keep a uptrend intact.

Bitcoin cost is pulling behind from a new dermatitis though a circuitously rhythm points could reason as support.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA so a trail of slightest insurgency is to a upside and a stand could lift on. In addition, a rising trend line can be drawn to bond a lows of bitcoin cost movement given early this month and it appears to be holding as support so far.

A incomparable improvement from a stand could find a building during a damaged dwindle insurgency around $615, that is tighten to a 100 SMA energetic support. Note that bitcoin cost has been creation bullish breakouts so distant though it is stalling during a longer-term area of interest during a moment.

Stochastic is streamer south for now so bitcoin cost competence follow suit. This could take it all a approach down to a 200 SMA

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