Bitcoin Price Technical Analysis for 09/19/2016 – Bulls Staying Strong!

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Bitcoin Price Key Highlights

  • Bitcoin cost recently done an upside dermatitis from a short-term converging pattern, signaling that bulls are putting adult a fight.
  • Price is behind in converging for now, presumably watchful for some-more catalysts to fuel it higher.
  • Technical indicators are suggesting that serve gains are in a cards.

Bitcoin cost is still pulling higher, though these gains could hinge on this week’s top-tier marketplace catalysts.

Market Events

The 100 SMA seems to be attempting an roof crossover from a longer-term 200 SMA, signaling that a trail of slightest insurgency is to a upside again. Stochastic is also branch aloft even on a approach down, that suggests that bulls are perplexing to recover control of bitcoin cost action.

If so, cost could continue to pierce higher, presumably environment a sights on a subsequent roof around a $625-630 area, that hold as insurgency progressing this month. Continued gains past that indicate could put bitcoin cost on lane towards a $660 area.

On a other hand, a lapse in bearish vigour could trigger a discerning pullback to a damaged insurgency during $610 or reduce until a $600 psychological support. A pointy mangle next this area could vigilance that sellers are expected to stay on tip of a game

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