Credit: 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
