Analysis: Bitcoin Price Stair-Stepping Down

Analysis: Bitcoin Price Stair-Stepping Down

Trade during yesterday's US session had pulled the Bitcoin price up towards the upper channel trendline, only to sell it off to near the day's low. The sense is that the bulls and the bears had spent themselves in yesterday's battle for control resulting in today's muted trade. However, a lot is at stake since the outcome of today's trading sessions will show the shape of things to come. The Bitstamp chart was sold back down to the low $460s without making a new low, whereas BTC-China's BTC/CNY price was traded to a marginal new low of 2,860 CNY. This is not a new decline low, but it did....


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