Bitcoin Price Technical Analysis for 09/27/2016 – Bullish Momentum Returning?

Bitcoin price looks ready to resume its climb as the ascending channel support is still holding.
Bitcoin Price Key Highlights
Bitcoin price is still hovering around the bottom of the ascending channel on its 4-hour time frame. Bullish momentum seems to be returning as price made a more convincing bounce and is in a continuation pattern. A bullish flag pattern has formed after the recent sharp rally, and a break past this formation could seal in more gains. Bitcoin price looks ready to resume its climb as the ascending channel support is still holding.
Technical Indicators Signals
The 100 SMA is still above the longer-term 200 SMA, indicating that the path of least resistance is to the upside. The short-term moving average is holding as dynamic resistance for now but a break past this $605 level could confirm that bulls are taking control of bitcoin price action.

This post was published at NewsBTC on 4:37 am September 27, 201.