31 Aug '15, 3am

Bitcoin Price Technical Analysis for 31/8/2015 – Another Failed Attempt Analysis

Bitcoin Price Technical Analysis for 31/8/2015 – Another Failed Attempt Analysis

In the previous Bitcoin price technical analysis titled Indicators Turning Positive , we discussed that the market participants should remain short on the cryptocurrency. Since then, Bitcoin has touched a high of $235.93 and a low of $226.31 very recently. This was another failed attempt by the bulls, and a further 3-4 percent cut will complete jeopardize their plans. Image: https://www.tradingview.com/x/XHPwVVph/ Take a look at the latest technical indications provided by the daily BTC-USD price chart. Bitcoin Chart Structure – There was another reason that made the recent jump unimpressive: Bitcoin failed to head above its previous high of $237.66. However, things will change significantly in favor of the longs if Bitcoin pierces above $235 (marked as the resistance) in quick time. Moving Averages – This is one very bearish crossover that the market participants must tak...

Full article: http://www.newsbtc.com/2015/08/31/bitcoin-price-technical...

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