Bitcoin Price Technical Analysis for 08/18/2016 – Bears in Control

Bitcoin price is pulling up from its slide but might be ready to trend lower upon testing the resistance.
Bitcoin Price Key Highlights
Bitcoin price is trading in a downtrend, moving below a descending trend line on its daily time frame. Price is gearing up for a test of the trend line and could be ready to resume the selloff soon. However, technical indicators are suggesting that buying pressure might still be present. Bitcoin price is pulling up from its slide but might be ready to trend lower upon testing the resistance.

This post was published at NewsBTC on 7:28 am August 18, 201.