Bitcoin Price Technical Analysis for 08/09/2016 – Short-Term Uptrend FormingThe 100 SMA is above the longer-term 200 SMA, which confirms that the path of least resistance is to the upside and that the rally could resume. In addition, the 200 SMA lines up with the rising trend line, adding to its strength as a floor. For now, bitcoin price has dipped below the 100 SMA dynamic inflection point, signaling a bit of bearish pressure. Stochastic is pointing up on its way out of the oversold region, which means that buyers are regaining control of price action...
http://www.newsbtc.com/2016/08/09/bitcoin-price-technical-analysis-08092016-short-term-uptrend-forming/
