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Bitcoin under the negative pressure – Analysis - 01-08-2016
Bitcoin price fell under negative pressure that pushed trading to break 637.00 level and holding below it, which stops the recently suggested positive scenario and lead the price to begin bearish wave on the intraday basis, followed by targeting areas that begin at 538.45 then 495.00.
The EMA50 move above the price puts additional negative pressure that supports the expectations to decline, which will remain valid unless the price managed to breach 669.00 level and hold above it.
Expected trading range for today is between 538.45 support and 669.00 resistance
Expected trend for today: Bearish
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