Investing.com - Bitcoin prices traded near a one-month low on Wednesday, as bearish chart signals weighed.
Bitcoin (BTC/USD) slumped $6.66, or 1.44%, on Slovenia-based BitStamp to trade at $457.34 during U.S. morning hours. Prices fell to a session low of $456.00 earlier in the day, a level not seen since August 19.
Bitcoin prices were likely to find support at $444.40, the low from August 18, and resistance at $490.74, the high from September 10.
Elsewhere, the price of a bitcoin on Bulgaria-based BTC-e shed $3.58, or 0.79%, to trade at a four-week low of $452.55, while prices on Singapore-based itBit declined $4.72, or 1.01%, to trade at $461.00.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency slipped 0.85% to trade at $459.79.
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.
Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) lost €3.80, or 1.06%, to trade at €355.72 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.
Elsewhere, yuan-denominated Bitcoin prices on Beijing-based OKCoin dipped CNY15.09, or 0.53%, to trade at CNY2,845.53, while prices on Shanghai-based BTC China fell CNY15.89, or 0.56%, to trade at CNY2,839.01
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.