Bitcoin Price Technical Analysis for 21/1/2015

Bitcoin Price Technical Analysis for 21/1/2015

During the past 48 hours, we observed the sideways movement of bitcoin price, which reflects the market's attempt to correct the price. As per our analysis yesterday, the bitcoin price was oscillating between $203-205 and $213-217 creating a slightly downward sloping trend line as the price is attempting to break out of the $220 resistance line. The day started with a rise in bitcoin price that broke out of the trend line we plotted yesterday on the 1 hour Bitfinex Bitcoin/USD chart (look at the above chart). At the time of writing of this article, the price reached $216, which is above....


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