BitCoin - Technical Analysis: Friday, 15/08/2014 11:22 GMT

Negative effect provided by double top pattern on the four hours time frame might push bitcoin price downwards, and a continuous negative pressure from the exponential moving average 50.

 

Stochastic loses the bullish momentum to enter the overbought area, and an attempt to confirm drawing a minor bearish pennant flag by breaking 510.00 level.

 

The full targets for the mentioned negative formation located around 395.00.