Bitcoin Price Technical Analysis for 08/29/2016 – Support Turned Resistance

Bitcoin price is trending lower but is making a correction to an area of interest before resuming the selloff.
Bitcoin Price Key Highlights
Bitcoin price recently broke below a short-term support area visible on the 1-hour time frame. Price found support around the $565 area before showing signs of pulling back. Bitcoin is now approaching the former support zone around $575, which might now hold as resistance. Bitcoin price is trending lower but is making a correction to an area of interest before resuming the selloff.

This post was published at NewsBTC on 3:30 am August 29, 201.