Investing.com -
Investing.com - Bitcoin prices declined on Tuesday to remain
below the key $600-level as market participants were hesitant to
buy into the market amid bearish chart signals.
BTC/USD declined 1.01%, or $5.94, on Slovenia-based BitStamp to
trade at $581.70 during U.S. morning hours.
Bitcoin prices were likely to find support at $555.90, the low
from July 31, and resistance at $607.20, the high from August
1.
Elsewhere, the price of a Bitcoin on Bulgaria-basedBTC-e dropped
0.92%, or $5.40, to trade at $579.00.
According to the CoinDesk Bitcoin Price Index, which averages
prices from the major exchanges, prices of the crypto-currency shed
0.63% to trade at $583.10.
Sentiment remained shaky as a wave of technical selling kicked
last week after prices dropped below key support levels, triggering
fresh sell orders amid bearish chart signals.
Bitcoin is digital cash and is not backed by a government or
central bank to regulate or issue it. It can be used to purchase
goods and services from stores and online retailers.
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