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Bitcoin is stable – Analysis - 02-08-2016
Bitcoin price shows weak trading since yesterday settling near 600.00 barrier, and as long as the price is below 670.00, the negative pressure will remain valid for the upcoming sessions, supported by the EMA50, waiting to resume the bearish bias that its main targets located at 538.45 then 495.00.
Breaching 670.00 level will motivate the price to achieve gains that mainly begin by testing the most important resistance for the short term and medium term trading at 776.95.
Expected trading range for today is between 495.00 support and 670.00 resistance
Expected trend for today: Bearish
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