Bitcoin Price Technical Analysis for 08/26/2016 – More Bearish Signals?

Bitcoin price could be due for more losses once it breaks below the double top neckline around $560.
Bitcoin Price Key Highlights Bitcoin price recently broke below a short-term uptrend formation, signaling that a selloff was in order. On the 4-hour time frame, bitcoin is showing more reversal signals after it failed in its last two attempts to break past the $590 area. A small double top pattern can be observed on this chart, with price still gearing up to test the neckline support. Bitcoin price could be due for more losses once it breaks below the double top neckline around $560.

This post was published at NewsBTC on August 26, 2016.