Published on August 16th, 2015 | by bitcoin0
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.