[2016-09-12]Bitcoin Price Technical Analysis – Saved by the Bulls

[BTCBinary]

Bitcoin Price Technical Analysis for 09/12/2016 – Saved by the Bulls!

The 100 SMA is still above the longer-term 200 SMA on the 4-hour chart, indicating that the path of least resistance is to the upside and that a rally is in the cards. These moving averages also held as dynamic support near the bottom of the rising channel at $575. The gap between the moving averages is widening to show that bullish pressure is getting stronger. In that case, bitcoin price could make its way back up to the channel resistance at $630...

http://www.newsbtc.com/2016/09/12/bitcoin-price-technical-analysis-09122016-saved-bulls/