Bitcoin Price Technical Analysis for 09/23/2016 – Another Bearish Flag?

Bitcoin price is stalling but appears to simply be pausing from its recent dive to gather more momentum.
Bitcoin Price Key Highlights
Bitcoin price is still stuck in tight consolidation for now in what appears to be a bearish continuation pattern. Price is hovering safely above several support levels but another push lower could be due, given the recent trend. A change in market sentiment, however, could spur a bounce back to the near-term resistance. Bitcoin price is stalling but appears to simply be pausing from its recent dive to gather more momentum.
Technical Indicators Signals
The 100 SMA is still above the longer-term 200 SMA on this time frame, suggesting that bulls could still push bitcoin price back up. After all, price is still finding support at the longer-term ascending channel bottom and the dynamic inflection point at the 200 SMA.

This post was published at NewsBTC