Bitcoin Price Technical Analysis for 08/30/2016 – Eyes on Range Resistance!

Bitcoin price is stuck in consolidation, stalling at the middle of its range and still deciding whether to make a test of resistance or not.
Bitcoin Price Key Highlights
Bitcoin price has been moving sideways recently, bouncing off support at $565 and finding resistance at $585. Price is in the middle of its range for now and may be encountering a bit of resistance at the area of interest. A break above the moving averages could put it on track towards testing the range resistance once more. Bitcoin price is stuck in consolidation, stalling at the middle of its range and still deciding whether to make a test of resistance or not.
Technical Indicators Signals
The moving averages are oscillating, which suggests that the range-bound bitcoin price action could continue. At the moment, price is treading around the dynamic inflection points, still trying to find momentum in either direction.

This post was published at NewsBTC on 5:04 am August 30, 201.

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