Analysis: Asian Trading Session Pulls the Bitcoin Price Up

Analysis: Asian Trading Session Pulls the Bitcoin Price Up

The Asian trading session has pulled price up from last night's lows near $470. There are still few clues as to where price is heading, but at least one more low is expected as the analysis below explains. Descending Channel. As identified in yesterday's analysis a descending channel has contained price action for 11 days running. Price has respected the lower channel trendline since first hitting it during trade on Sunday 31 August. This trendline is currently overlapping with the 0.618 Fibonacci retracement level of the entire advance from April to June, and that implies strong support....


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