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Topic: [2016-08-01] newsbtc.com-Bitcoin Price Technical Analysis for 08/01/2016 (Read 226 times)

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Bitcoin Price Technical Analysis for 08/01/2016 – Breakdown Alert!

Bitcoin Price Key Highlights

    1.Bitcoin price was trading inside a symmetrical triangle pattern before a strong breakdown ensued.
    2.An early signal for this selloff materialized on the 1-hour time frame when price broke below a head and shoulders pattern.
    3.Economic reports released last Friday seemed to be the main catalyst for the big move.

Bitcoin price made a sharp breakdown from consolidation recently, signaling that a longer-term downtrend could take place.

READ MORE >>> http://www.newsbtc.com/2016/08/01/bitcoin-price-technical-analysis-08012016-breakdown-alert/
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