Bitcoin Price Technical Analysis for 09/02/2016 – Make or Break

Bitcoin price is still deciding whether to bounce from or break above the descending trend line, depending on how U. S. data turns out.
Bitcoin Price Key Highlights Bitcoin price is still in a downtrend on its longer-term time frames and today’s market catalyst could allow it to resume its selloff. Price has yet to test the descending trend line connecting the highs of price action on the 4-hour chart. Technical indicators seem to be hinting that an upside breakout is possible. Bitcoin price is still deciding whether to bounce from or break above the descending trend line, depending on how U. S. data turns out.

This post was published at NewsBTC on September 2, 2016.