Bitcoin Price Technical Analysis for 08/04/2016 – Bears Revving Up!The 100 SMA is below the longer-term 200 SMA, signifying that the path of least resistance is to the downside and that further losses are likely. In addition, the gap between the moving averages is widening to show that bearish pressure is getting stronger. However, stochastic is heading north so bitcoin price could follow suit. In that case, price could keep pulling up higher, possibly until the dynamic resistance at the moving averages around $640-660, which is also within the vicinity of the broken symmetrical triangle support visible on the 4-hour time frame...
http://www.newsbtc.com/2016/08/04/bitcoin-price-technical-analysis-08042016-bears-revving/
