Bitcoin Price Technical Analysis for 08/09/2016 – Short-Term Uptrend Forming

Bitcoin price is currently testing the rising trend line visible on its 1-hour time frames and could be ready to resume its climb.
Bitcoin Price Key Highlights
Bitcoin price is slowly climbing, moving above a rising trend line on its 30-minute and 1-hour time frames. Price is currently testing this rising trend line support, with technical indicators suggesting that a bounce could take place. A return in bullish pressure could take bitcoin price back up to the previous resistance at $590 or higher. Bitcoin price is currently testing the rising trend line visible on its 1-hour time frames and could be ready to resume its climb.

This post was published at NewsBTC on 4:47 am August 9, 201.