Weekly Analysis Shows Bitcoin in Decline – Bitcoints

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Published on August 16th, 2015 | by bitcoin

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Weekly Analysis Shows Bitcoin in Decline

Bitcoin Price Key Highlights
Bitcoin price continued to move lower as buyers faced a lot of hurdles on the upside.
Bitcoin price continued to struggle to trade higher, and there is a chance of a break lower in the near term.
We highlighted this past week that the price might continue to trade lower, as there was a major resistance formed around 275.00.
The price did move lower, and tested a critical support area of 260.00.
A break above highlighted trend line resistance area could take the price towards the 100 hourly SMA, which is sitting around the 61.8% Fib level.

Source: News.google.com



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