Bitcoin Price Technical Analysis for 09/29/2016 – Sitting on Resistance Turned SupportThe 100 SMA just recently crossed above the longer-term 200 SMA on this time frame, suggesting that the path of least resistance is to the upside. Also, the 100 SMA is holding as dynamic support and keeping losses in check, with the next potential floor at the 200 SMA just close by.
However, stochastic is pointing down to suggest that sellers are still in control of bitcoin price action for now. In that case, a downside break of this consolidation pattern could be in the cards, taking the cryptocurrency down to the next support at $595...
http://www.newsbtc.com/2016/09/29/bitcoin-price-technical-analysis-09292016-sitting-resistance-turned-support/
