Bitcoin Price Technical Analysis for 07/15/2016 – Still Testing Channel Support!

Bitcoin price is testing the ascending channel on the 1-hour time frame, still deciding whether to go for a continuation or a reversal.
Bitcoin Price Key Highlights Bitcoin price has been edging lower recently but the overall uptrend on the short-term chart seems intact. Price is still inside its ascending channel and is currently testing the support. A bounce could confirm that bulls are still in control of bitcoin price action while a breakdown would suggest that a downtrend is in order. Bitcoin price is testing the ascending channel on the 1-hour time frame, still deciding whether to go for a continuation or a reversal.

This post was published at NewsBTC on July 15, 2016.