Bitcoin Price Hinges on $503 - Igniting Downside Price Correction!!
Bitcoin price printed a high of $503 earlier today on Bitstamp, then a price correction wave pulled it down to $470, at the time of writing of this article. The historical bullish rally that we witnessed during the past few days will slow down during the next couple of days, as the price seems to have hinged around the $500 level to ignite a temporary reversal of this bullish wave. Bollinger Bands Signaling Price Correction Attempts: Let's examine the 1 hour (BTC/USD) charts from Bitstamp (look at the below chart); plot the "Bollinger Bands" volatility indicator and extend the Fibonacci....
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