Bitcoin Price Technical Analysis for 08/02/2016 – Aiming for Long-Term Support?

Bitcoin price could be due for a test of the longer-term rising trend line visible on the daily chart.
Bitcoin Price Key Highlights Bitcoin price recently made a strong break from a short-term consolidation pattern, signaling that sellers have taken control. However, the longer-term uptrend remains intact and price could be ready for a test of the key support. A rising trend line can be drawn to connect the lows on the daily time frame and bitcoin price seems to be headed towards this area. Bitcoin price could be due for a test of the longer-term rising trend line visible on the daily chart.

This post was published at NewsBTC on August 2, 2016.

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