Bitcoin Price Hits Resistance
Bitcoin price breached the 4-hour 200MA in most exchange charts today as buyers eagerly piled into advance. At the time of writing, the market has become quiet, and if a larger decline will grip the market, then the time is now. The decline target remains at the previous low near $365 and 2450 CNY. If the market trades yet another wave to the upside and fails to breach the resistance ceiling, then we will have an indication that trend will turn back down. Bear in mind that a final corrective wave (such as this) typically resembles advance right up to the moment of decline.
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