Bitcoin Price Technical Analysis for 27/8/2015 - The Bears Have Not Gone Away

Bitcoin Price Technical Analysis for 27/8/2015 - The Bears Have Not Gone Away

In the conclusion of the previous Bitcoin price technical analysis And Here Comes the Rebound, I stated that the current relief rally in Bitcoin will fizzle out very soon and that the market participants should be prepared to create short positions. We have seen this happen in yesterday's trading session where attempts made by the bulls to scale higher were undone by profit booking and renewed selling pressure. Bitcoin is currently trading flat at $224, after racing to an intraday high of $231.09 and is now expected to trend lower in the coming sessions. Bitcoin will witness a greater....


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