Bitcoin Price Technical Analysis for 11/14/2016 – New Trend Forming!

Bitcoin price is establishing a new downtrend after breaking below an area of interest. More bears are waiting at this retest of the broken support.
Bitcoin Price Key Highlights
Bitcoin price recently broke below an area of interest marked in an earlier article, indicating that a downtrend might be due. Price is now pulling back up to this area for a retest before gaining more traction in its selloff. If the near-term resistance holds, bitcoin price could make its way back down to the recent lows at $685. Bitcoin price is establishing a new downtrend after breaking below an area of interest. More bears are waiting at this retest of the broken support.

This post was published at NewsBTC on November 14, 2016.

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