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Author Topic: [2016-08-15]Bitcoin Price Technical Analysis – Support Turned Resistance  (Read 177 times)
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August 15, 2016, 06:59:47 PM

Bitcoin Price Technical Analysis for 08/15/2016 – Support Turned Resistance

The 100 SMA is making a downward crossover from the 200 SMA to show that bearish pressure is getting stronger. Once this downtrend signal is completed, more sellers could jump in the game and push for a test of the recent lows at $565. Bitcoin price could find resistance at the descending trend line connecting the latest highs of price action since August 10, as this lines up with a former support zone around $580. A move past this area could still draw resistance from the dynamic inflection points around the moving averages...
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