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Bitcoin Price Action Fulfills Bullish Antipation

I recently took a look at bitcoin's price action since late August, as the virtual currency consolidated after a sharp decline. In the previous breakdown of the consolidation, we began to see some clues of bullish bias:
Stalking the Choppy Bitcoin Price Action

Since the article, we have gotten another bullish sign.

Bitcoin (BTCUSD) 4H Chart 9/28

(click to enlarge)

Bullish Slingshot: 
Tthe bullish sign I am talking about is price bouncing off the cluster of 200-, 100-, and 50-period simple moving averages in the 4H chart. The crossover and the bounce is called a slingshot.

Price rebounding above 230 also confirmed respect for a price bottom above 222.50, and puts pressure on the high around 246. The short-term upside risk above this high would be around 260.