Investing.com - Bitcoin prices consolidated below the $470-level in range bound trade on Tuesday, as market players were reluctant to enter the market amid bearish chart signals.
Bitcoin (BTC/USD) slumped $6.79, or 1.43%, on Slovenia-based BitStamp to trade at $469.20 during U.S. morning hours. Prices held in a narrow range between $465.00 and $478.90.
Bitcoin prices were likely to find support at $456.30, the low from September 8, and resistance at $490.74, the high from September 10.
Elsewhere, the price of a bitcoin on Bulgaria-based BTC-e shed $4.58, or 0.98%, to trade at $462.63, while prices on Singapore-based itBit rose $3.35, or 0.72%, to trade at $470.15.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency slipped 0.33% to trade at $469.80.
Investors hesitated to open fresh positions after prices failed to close above a key resistance level near the $490-mark last week, indicating bearish chart signals.
Prices of the virtual currency remained supported after United Way Worldwide announced on Monday that it would begin accepting bitcoin for donations.
The United Way is the world’s largest non-profit organization.
Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) tacked on €3.71, or 1.03%, to trade at €364.72 on U.S.-based Kraken Exchange.
Bitcoin exchange Coinbase announced on September 10 that it was expanding into 13 European countries, allowing users with European bank accounts to now buy and sell bitcoins in exchange for euros.
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.