Bitcoin Price Technical Analysis for 09/14/2016 – Long-Term Climb Gaining Steam?

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Bitcoin Price Key Highlights

  • Bitcoin cost has been trending aloft on a longer-term time frames, relocating above a rising trend line manifest on a daily chart.
  • Price recently tested a trend line support and done a bounce, that suggests that bulls are vigilant on gripping a uptrend intact.
  • The convene is still anticipating legs though there are technical arguments for a delay of a climb.

Bitcoin cost is still hovering tighten to a long-term rising trend line though could be perplexing to resume a rally.

Technical Indicators Signals

The 100 SMA is above a longer-term 200 SMA on this time frame, indicating that a trail of slightest insurgency is to a upside. Also, a opening between a relocating averages is widening and this reflects strengthening bullish pressure. The 200 SMA is tighten to a rising trend line support, adding to a strength as a building and expected portion as a line in a silt for this uptrend.

For now, bitcoin cost is anticipating near-term insurgency during a 100 SMA and could be due for another exam of support if this area keeps gains in check. Stochastic is on a pierce down to prove that sellers are in control for now, though a oscillator is stalling on middle

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